Wednesday Midday Dairy Market Summary - Block Cheese Jumps to Highest Level Since February

OUTSIDE MARKETS SUMMARY:

CORN:	3 Higher
SOYBEANS:	6 Higher
SOYBEAN MEAL:	$1.00 Lower
LIVE CATTLE:	$1.70 Lower
DOW JONES:	110 Points Lower
NASDAQ:	95 Points Higher
CRUDE OIL:	$0.27 Lower

MIDDAY MARKET UPDATE:

The block cheese price jumped 6.75 cents, closing at $1.8475 with three loads traded. This moved the price above the previous high on April 17 and back to the highest since Feb. 27. The barrel cheese price increased 0.25 cent, closing at $1.7725 with three loads traded. There were two unfilled bids for blocks, with one uncovered offer remaining at the close. Barrels had one unfilled bid and three uncovered offers. The dry whey price slipped 0.50 cent, closing at 52.50 cents with one load traded. Class III futures are 7 cents lower to 1 cent higher. The butter price remained unchanged at $2.3425 with no loads traded. Nonfat dry milk gained 0.75 cent, closing at $1.2150 with eight loads traded. Class IV futures have only traded in the June contract with the price 2 cents lower. Butter futures are steady to 0.80 cent lower. Dry whey futures are 0.47 cent lower to 1.27 cents higher.