OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 17 Higher |
| SOYBEAN MEAL: | $4.80 Higher |
| LIVE CATTLE: | $0.02 Lower |
| DOW JONES: | 596 Points Lower |
| NASDAQ: | 341 Points Lower |
| CRUDE OIL: | $0.42 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $2.38 with no loads traded. An offer was placed above the market and lowered to the closing price without a buyer showing up. Barrel cheese price moved steadily lower, closing down 5.25 cents, ending at $2.3475 with five loads traded. Dry whey price increased 0.75 cent, ending at 50.75 cents with two loads traded. Class III futures could not shrug off the weakness of barrels as they did Thursday, succumbing to the pressure Friday. Futures are still overpriced based on the calculation of the past two days as contracts really should not have increased Thursday with further weakness again Friday. Futures through the end of the year are 36 cents lower to 7 cents higher. Contracts in 2023 are mixed. Butter price increased 2.25 cents, closing at $2.85 with eight loads traded. Grade A nonfat dry milk price increased a penny, closing at $1.80 with one load traded. Class IV futures are steady to 25 cents higher. Butter futures are 0.27 cent lower to 4.00 cents higher. Dry whey futures are steady to 0.75 cent higher.
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