OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.90 Higher |
| LIVE CATTLE: | $0.82 Lower |
| DOW JONES: | 84 Points Higher |
| NASDAQ: | 170 Points Lower |
| CRUDE OIL: | $1.00 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.75 cent closing at $1.85 with no loads traded. There was one buyer that went home empty handed as no offer was posted. Barrel cheese price declined 1.25 cents closing at $1.68 with 1 load traded. This is the first price decline for barrels in 10 consecutive trading days. Class III futures were higher prior to and shortly after spot trading. However, contracts are all not lower due to the weakness of barrels. Butter price declined a penny closing at $2.0475 with 4 loads traded. Grade A nonfat dry milk price increased 2.50 cents closing at $1.5950 with 9 loads traded. This moves price to a new high again. Dry whey price increased 1.50 cents closing at 71.25 with no loads traded. Class III futures are unchanged to 13 cents lower. Class IV futures are unchanged to 4 cents lower. Butter futures are 0.50 cent to 1.50 cents lower. Dry whey futures are 0.02 cent lower to 0.77 cent higher. USDA estimates milk production next year at 227.7 billion pounds, down 400 million pounds from the November estimate.
