OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $1.60 Lower |
| LIVE CATTLE: | $1.00 Lower |
| DOW JONES: | 978 Points Lower |
| NASDAQ: | 608 Points Lower |
| CRUDE OIL: | $0.13 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.25 cent, closing at $2.35 with two loads traded. Barrel cheese price gained 5 cents, closing at $2.38 with seven loads traded. There was one unfilled bid for a load of barrels and one uncovered offer. There were two uncovered offers for blocks remaining at the close. Class III futures posted strong gains before spot trading with gains in cheese pushing futures significantly higher. Futures were unable to hold the highs, falling back in nearby contracts. Futures are 2 cents lower to 35 cents higher. Dry whey price slipped 0.25 cents, closing at 58.50 cents with no loads traded. Butter price gained a penny, closing at $2.66 with three loads traded. Grade A nonfat dry milk price increased 0.50 cent, ending at $1.74 with one load traded. Class IV futures are 11 to 15 cents higher. Butter futures are steady to 3.85 cents higher. Dry whey futures are unchanged to 0.90 cent lower.
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