Thursday Midday Dairy Market Summary - Cheese Prices Push Higher

OUTSIDE MARKETS SUMMARY:

CORN:	1 Higher
SOYBEANS:	30 Lower
SOYBEAN MEAL:	$2.80 Higher
LIVE CATTLE:	$2.40 Lower
DOW JONES:	166 Points Higher
NASDAQ:	45 Points Higher
CRUDE OIL:	$1.57 Lower

MIDDAY MARKET UPDATE:

The block cheese price increased 5 cents, closing at $1.8975 with one load traded. This is the highest price since Feb. 21. There were eight unfilled bids with no offers remaining at the close. The barrel cheese price increased 4.75 cents, closing at $1.82 with no loads traded and no sellers showing up during spot trading. There were three unfiled bids remaining at the close. The dry whey price increased 2 cents, closing at 54.50 cents with five loads traded. Class III futures are steady to 53 cents higher, with all contracts from June through October above $19.00. The June and July contracts have nearly eliminated the entire losses since October. The butter price decreased a penny to close at $2.3325 with three loads traded. Grade A nonfat dry milk increased 1.25 cents, closing at $1.2275 with five loads traded. Class IV futures have not yet been traded. Butter futures are 2.00 cents lower to 0.50 cent higher. Dry whey futures are 0.40 cent lower to 0.80 cent higher.