Monday Midday Dairy Market Summary - Barrels Were Unable to Hold Gains

OUTSIDE MARKETS SUMMARY:

CORN:	3 Higher
SOYBEANS:	5 Lower
SOYBEAN MEAL:	$1.90 Higher
LIVE CATTLE:	$0.32 Higher
DOW JONES:	93 Points Lower
NASDAQ:	55 Points Lower
CRUDE OIL:	$1.36 Higher

MIDDAY MARKET UPDATE:

The block cheese price increased 3 cents closing at $1.73 with four loads traded. The barrels cheese price remained steady at $1.69 with six loads traded. The negativity of the market was due to barrels initially gaining 3.50 cents before selling became more aggressive and buyers backed off. Only an unfilled bid remained at the close for a load of blocks. The dry whey price increased by 0.50 cent closing at 71.50 cents with no loads traded. Class III futures are 11 cents lower to 8 cents higher. The butter price decreased 1.50 cents closing at $2.53 with eight loads traded. One unfilled bid and four uncovered offers remained at the close of spot trading. Grade A nonfat dry milk slipped 0.25 cent closing at $1.3875 with two loads traded. Class IV futures have not yet been traded. Butter futures are 0.87 cent lower to 1.00 cents higher. Dry whey futures are steady to 1.02 cents higher.