OUTSIDE MARKETS SUMMARY:
| CORN: | 11 Lower |
| SOYBEANS: | 26 Lower |
| SOYBEAN MEAL: | $5.60 Lower |
| LIVE CATTLE: | $0.27 Higher |
| DOW JONES: | 78 Points Higher |
| NASDAQ: | 193 Points Lower |
| CRUDE OIL: | $0.34 Lower |
MIDDAY MARKET UPDATE:
Block cheese came under pressure declining 5.50 cents, closing at $1.9975 with no loads traded. There were two uncovered offers remaining at the close with no buyers showing up Thursday. Barrel cheese price increased 2.25 cents, closing at $1.9275 with one load traded. After that load was traded, there was an offer that took the price down 0.25 cent into the close. It took a little while for traders to digest what took place but eventually selling pressure rippled through the market resulting in futures weakness. An uncovered offer set the closing price. Butter declined for the second day with price down 4.25 cents, closing at $2.7875 with seven loads traded. Grade A nonfat dry milk price gained 2 cents, closing at $1.78 with one load traded. Dry whey price increased 0.75 cent, closing at 77 cents with two loads traded. Class III futures are 58 cents lower to 11 cents higher with February showing the greatest loss. Class IV futures are 10 cents lower to 29 cents higher. Butter futures are 1.50 to 6.02 cents lower. Dry whey futures are 1.00 cent lower to 1.20 cents higher.
.jpg)
