OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 27 Higher |
| SOYBEAN MEAL: | $5.20 Higher |
| LIVE CATTLE: | $2.15 Higher |
| DOW JONES: | 21 Points Lower |
| NASDAQ: | 183 Points Lower |
| CRUDE OIL: | $0.83 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $2.11 with no loads traded. Barrel cheese price declined a penny closing at $2.1725 with one load traded. Dry whey price increased a penny closing at 50 cents with one load traded. This offset the decrease of barrels. However, traders did not care about keeping Class III futures under pressure in most contracts that have traded. Trading activity has been very limited with numerous contracts showing no trading activity yet today. Butter price increased 3 cents closing at $3.00 with 19 loads traded. Buyers are confident with purchasing at this level feeling downside risk is minimal. Grade A nonfat dry milk price declined 1.75 cents closing at $1.73 with one load traded. Class III futures are 24 cents lower to 13 cents higher. Class IV futures are 8 cents lower to one cent higher. Butter futures are 0.25 cents lower to 1.62 cents higher. Dry whey futures are unchanged to 0.02 cents higher.
