OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Higher |
| SOYBEANS: | 17 Higher |
| SOYBEAN MEAL: | $6.30 Higher |
| LIVE CATTLE: | $0.40 Lower |
| DOW JONES: | 163 Points Higher |
| NASDAQ: | 70 Points Higher |
| CRUDE OIL: | $0.84 Lower |
MIDDAY MARKET UPDATE:
The block cheese price retraced today with a decline of 1.75 cents to close at $1.5475, with one load traded. The barrel cheese price increased a penny to close at $1.5600 with 2 loads traded. The dry whey price increased 0.50 cent to close at 69.00 cents with one load traded. The decrease in the block price quickly turned Class III futures mostly lower, reversing the earlier double-digit gains. The butter price remained unchanged at $1.6500 with no loads traded. There was one unfilled bid and 28 uncovered offers remaining with no one willing to change to accomplish business. Grade A nonfat dry milk increased 0.50 cent to close at $1.5550 with 12 loads traded. Class IV futures have not yet traded. Butter futures are 0.02 cent lower to 1.50 cents higher in very light trade. Dry whey futures are 0.22 cent lower to 1.55 cents higher. Cheese futures are 1.30 cents lower to 0.50 cent higher. Nonfat dry milk futures are 0.75 cent lower to 2.17 cents higher. USDA raised milk production this year to 236.6 billion pounds and next year to 238.1 billion pounds.
