OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $2.20 Lower |
| LIVE CATTLE: | $1.40 Lower |
| DOW JONES: | 500 Points Lower |
| NASDAQ: | 224 Points Lower |
| CRUDE OIL: | $2.73 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 4 cents to close at $2.065 with no loads traded. There were two unfilled bids remaining at the close. Barrel cheese price increased 2.50 cents to close at $2.01 with one load traded. There was an uncovered offer remaining at the close. Dry whey price remained unchanged at 43.50 cents with no loads traded. Butter price jumped 10.25 cents, closing at $2.9025 with five loads traded. There were no unfilled bids or uncovered offers remaining at the close. This strength propelled Class III futures to limit up in the December and January contracts for a brief period but have not held there. Contracts range from 6-59 cents higher. Class IV futures have shown limited trade with contracts unchanged to 14 cents higher. Butter futures are 1.47 to 6.47 cents higher. Dry whey futures are 0.25 to 0.75 cent higher. USDA raised its milk production estimate this year 227 billion pounds, up 100 million pounds from October. USDA left 2023 milk production unchanged at 229.2 billion pounds.
