OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $2.90 Higher |
| LIVE CATTLE: | $0.57 Higher |
| DOW JONES: | 321 Points Lower |
| NASDAQ: | 356 Points Lower |
| CRUDE OIL: | $1.26 Higher |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $1.88 with no loads traded. No buyers are sellers showed up during spot trading. Either buyers and sellers are comfortable with the current price, or each side is waiting to see what the other will do. Barrel cheese price increased 1.25 cents, closing at $1.8525 with one load traded. There was an unfilled bid remaining at the close. Butter price remained unchanged at $2.4525 with no loads traded. Grade A nonfat milk price increased 1.25 cents, settling at $1.81 with seven loads traded. There were four unfilled bids and one uncovered offer remaining at the close. Dry whey remained unchanged at 65.75 with no loads traded. Class III futures are 18 cents lower to 10 cents higher. The only gain is in the February contracts as it needs to remain right in line with underlying cash. Class IV futures are 18 to 26 cents with trading activity confined to the June and July contracts. Butter futures are 0.95 to 2.65 cents lower. Dry whey futures are 0.05 cent lower to 0.65 cent higher.
