OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 29 Higher |
| SOYBEAN MEAL: | $3.00 Lower |
| LIVE CATTLE: | $0.50 Lower |
| DOW JONES: | 70 Points Lower |
| NASDAQ: | 69 Points Lower |
| CRUDE OIL: | $2.09 Higher |
MIDDAY MARKET UPDATE:
Butter price fell 24.50 cents during spot trading Tuesday with price settling at $2.70. There were no loads traded with no buyers even showing up to the market. There were 11 offers remaining at the close, indicating further weakness is possible. Buyers had been stocking up on supply and filling retail orders that had been heavier due to consumers stocking up to beat the potential shortage into the holiday. Recommendations were being released for consumers to stock up. That may now be done, leaving supply with no buyers. Price hit the wall and hit it hard, declining 44 cents over the past two days. Grade A nonfat dry milk price declined 3 cents, closing at $1.3950 with no loads traded. Block cheese price remained unchanged at $1.96 with no loads traded. Barrel cheese price increased 1.75 cents, closing at $1.96 with one load traded. Dry whey price remained unchanged at 44 cents. Class III futures are 10 cents to 12 cents higher. Class IV futures are 32 to 69 cents lower. Butter futures are 2.50 to 14.00 cents lower due to expanded trade limits because of the limit-down move Monday. Dry whey futures are 0.47 cent lower to 1.72 cents higher.
