OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $2.60 Lower |
| LIVE CATTLE: | $1.10 Lower |
| DOW JONES: | 26 Points Lower |
| NASDAQ: | 103 Points Lower |
| CRUDE OIL: | $0.29 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.25 cent, closing at $1.9475 with three loads traded. Barrel cheese price declined 1.50 cents, closing at $1.6550 with 11 loads traded. This moved the block-barrels spread to 29.25 cents. The recent movement of cheese prices leaves many in a quandary as to price direction through the end of the year. Butter price gained 4 cents, closing at $2.10 with 19 loads traded. Grade A nonfat dry milk price increased 2 cents, closing at $1.6625 with one load traded. Dry whey price remained unchanged at 71.25 cents with no loads traded. Class III futures are 14 cents lower to 16 cents higher with contracts in late 2022 showing double-digit gains. Class IV futures are 4-33 cents higher. Butter futures are 0.50 cent to 2.97 cents higher. Dry whey futures are 0.95 cent lower to 0.50 cent higher.
