OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 14 Higher |
| SOYBEAN MEAL: | $1.80 Higher |
| LIVE CATTLE: | $2.55 Higher |
| DOW JONES: | 832 Points Higher |
| NASDAQ: | 662 Points Higher |
| CRUDE OIL: | $0.85 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.75 cents to close at $1.6150 with no loads traded. The barrel cheese price increased 2.75 cents, closing at $1.5925 with no loads traded. No sellers showed up during spot trading. The dry whey price remained steady at 69.00 cents with no loads traded. Class III futures are 8 cents lower to 19 cents higher. The butter price decreased 5.00, closing at $1.7750 with 20 loads traded. This price matches the low from March 23. Grade A nonfat dry milk increased a penny, regaining the recent loss and moving to a new high. Class IV futures are 15 to 27 cents lower. Butter futures are 1.22 to 4.50 cents lower. Dry whey futures are steady to 0.22 cent lower. Cheese futures are 0.20 to 1.20 cents higher. The average soybean meal price for February was $312.38 per ton. This was an increase of $13.13 per ton. The income of feed price was $8.48, resulting in a $1.04 per cst payment under the Dairy Margin Coverage program.
