OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $4.00 Higher |
| LIVE CATTLE: | $0.02 Lower |
| DOW JONES: | 395 Points Higher |
| NASDAQ: | 192 Points Higher |
| CRUDE OIL: | $1.14 Higher |
MIDDAY MARKET UPDATE:
The block price showed further weakness, indicating the weakness on Wednesday was not an aberration. The market sentiment seems to have changed. Blocks showed further weakness today, with the price declining 1.25 cents to close at $1.5525 with one load traded. The barrel cheese price declined 1.75 cents to close at $1.5725 with no loads traded. The dry whey price remained unchanged at 70.00 cents with no loads traded. Class III futures are 15 cents lower to 2 cents higher. The butter price gained 1.00 cents to close at $1.7375 with 27 loads traded. Grade A nonfat dry milk gained 3.50 cents to close at $2.06 with two loads traded. The strength of nonfat dry milk is incredible, with new all-time highs daily. Nonfat dry milk/skim milk powder export in February was 8.0 percent above a year ago. Strong domestic and international demand continues to support the market. Class IV futures are 22-55 cents higher. Butter futures are 0.65 cent lower to 0.72 cent higher. Dry whey futures are 0.55 cent lower to 0.70 cent higher. Cheese futures are 1.60 cents lower to 0.20 cent higher.
