OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $4.30 Lower |
| LIVE CATTLE: | $0.12 Higher |
| DOW JONES: | 143 Points Lower |
| NASDAQ: | 6 Points Lower |
| CRUDE OIL: | $1.19 Higher |
MIDDAY MARKET UPDATE:
There was anticipation of a further rebound of block cheese prices but that was not the case. Block price slipped 0.25 cent, closing at $2.0075 with no loads traded. Barrel cheese price declined 0.50 cent, closing at $2.17 with no loads traded. There was only one offer for a load of blocks and one for a load of barrels posted during spot trading. Buyers were nowhere to be seen. Dry whey price declined 0.75 cent, closing at 44.50 cents with no loads traded. There were two unfilled bids and two uncovered offers remaining at the close. Class III futures were quite a bit higher prior to spot trading but slipped back as cheese prices showed weakness. However, contracts are holding well with futures 7 cents lower to 50 cents higher. Butter price increased 2.25 cents, closing at $3.1550 with 23 loads traded. Buyers came out of the woodwork looking for butter and sellers had it for sale. There was an offer for one load remaining at the close. Grade A nonfat dry milk price declined 1.75 cents, closing at $1.5625 with no loads traded. Class IV futures are 10 cents lower to 8 cents higher. Butter futures are 0.30 lower to 2.52 cents higher. Dry whey futures are 0.25 to 1.00 cents higher.
