OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 21 Higher |
| SOYBEAN MEAL: | $7.00 Higher |
| LIVE CATTLE: | $0.17 Higher |
| DOW JONES: | 112 Points Lower |
| NASDAQ: | 324 Points Lower |
| CRUDE OIL: | $0.20 Higher |
MIDDAY MARKET UPDATE:
Block and barrel cheese price remained unchanged at $1.8575 and $1.6025, respectively. There were no loads traded in either category. There were no buyers or sellers showing up to do any business for blocks. Butter price increased 2 cents with 10 loads traded. Grade A nonfat dry milk remained unchanged at $1.5625 with four loads traded. Dry whey price increased 1.25 cents, closing at 69.75 with no loads traded. The stability of cheese prices and the increase of dry whey triggered buying in Class III futures. Current prices are 7 to 44 cents higher with January showing the greatest gain. Class IV futures are 9 to 30 cents higher due to the increase of butter. Butter futures are 0.90 to 3.97 cents higher. Dry whey futures are steady to 0.50 cent higher. USDA will release the October Dairy Products report Friday afternoon, providing an indication as to the level of production of dairy products during the month in comparison to the previous year. This report is not a market mover but does provide an indication of what we can expect for inventory through the end of the year.
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