OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $1.10 Higher |
| LIVE CATTLE: | $2.42 Lower |
| DOW JONES: | 253 Points Higher |
| NASDAQ: | 412 Points Higher |
| CRUDE OIL: | $0.46 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 3 cents to close at $1.3675 with no loads traded. An unfilled bid and an uncovered offer remained. Clearly, the recent buying interest has been filled. The barrel cheese price remained unchanged at $1.40 with no loads traded. The dry whey price declined 1.50 cents, closing at 70.50 with four loads traded. Class III futures are 26 cents lower to 2 cents higher, with only the July contract posting a gain. The butter price declined 2.75 cents, closing at $1.44 with three loads traded. This eliminates all of the gains since Dec. 1. Grade A nonfat dry milk slipped 0.25 cent to close at $1.1550 with seven loads traded. Class IV futures have traded 26 cents lower in the December contract and 3 cents higher in the June contract. Those are the only two months traded so far today. Butter futures are 0.10-3.50 cents lower. Dry whey futures are 0.85 cent lower to 0.95 cent higher. Cheese futures are steady to 2.50 cents lower.
