OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $5.10 Lower |
| LIVE CATTLE: | $1.45 Higher |
| DOW JONES: | 96 Points Higher |
| NASDAQ: | 198 Points Higher |
| CRUDE OIL: | $0.09 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.25 cent, closing at $1.80 with no loads traded. The barrel cheese price remained unchanged at $1.79 with no loads traded. Buyers were nowhere to be found as the unfilled bids of Tuesday were not posted today. This changes the market sentiment, putting some pressure on the market. Traders are assessing whether there is much further upside price potential for the time being. The dry whey price remained steady at 56.00 cents with no loads traded. Class III futures are 3 to 15 cents lower. Surprisingly, the August contract showed the greatest loss due to it being the nearby month and much of it already having been priced by the trade. The butter price declined a penny, closing at $2.43 with five loads traded. Grade A nonfat dry milk remained unchanged at $1.28 with no loads traded. Class IV futures have only traded in the August contract, with the price unchanged. Butter futures are 1.42 cents lower to 0.75 cent higher. Dry whey futures are 1.22 cent lower to 1.27 cents higher.
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