Thursday Midday Dairy Market Summary - Traders Find Little Direction

OUTSIDE MARKETS SUMMARY:

CORN:	4 Higher
SOYBEANS:	2 Higher
SOYBEAN MEAL:	$1.50 Lower
LIVE CATTLE:	$0.37 Higher
DOW JONES:	148 Points Higher
NASDAQ:	165 Points Higher
CRUDE OIL:	$0.06 Lower

MIDDAY MARKET UPDATE:

The block cheese price remained unchanged at $1.92 with no loads traded. The barrel cheese price increased by 0.25 cent closing at $1.83 with no loads traded. The dry whey price decreased by 0.75 cent closing at 56 cents with no loads traded. The decrease in the dry whey price more than offset the increase in barrels. Class III futures are 15 cents lower to 13 cents higher. The butter price decreased 0.50 cent closing at $2.40 with eight loads traded. Sellers continue to offer a significant volume of loads to the spot market at lower prices. Buyers have been willing to purchase what is being offered. Grade A nonfat dry milk remained unchanged at $1.30 with no loads traded. Class IV futures are 11 to 22 cents lower with trading activity confined to the April and May contracts. Butter futures are 2.00 cents lower to 1.00 cent higher. Dry whey futures are 0.50 cent lower to 1.00 cent higher.