OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 28 Higher |
| SOYBEAN MEAL: | $16.30 Higher |
| LIVE CATTLE: | $1.85 Higher |
| DOW JONES: | 118 Points Lower |
| NASDAQ: | 184 Points Lower |
| CRUDE OIL: | $1.33 Lower |
MIDDAY MARKET UPDATE:
Block cheese price fell 8 cents closing at $1.88 with one load traded. price initially fell to $1.87 before an unfilled bid moved price off the low. Barrel cheese price gained 2.75 cents closing at $1.58 with six loads traded. Price initially moved down to $1.56 before buyers became more aggressive. There were 14 unfilled bids remaining at the close with 10 of those bids significantly below the market. Dry whey price declined 0.75 cents closing at 32 cents with 5 loads traded. Class III futures are 20 cents lower to 7 cents higher with the November contract showing the only gain with the trade taking place prior to spot trading. Both February and March contracts are trading below $18.00. Butter price jumped 8 cents closing at $2.3525 with two loads traded. Grade A nonfat dry milk price remained steady at $1.1525 with two loads traded. Class IV futures are mixed with only two contract months traded. March is down 15 cents with April up 4 cents. Butter futures show limited activity with contracts 0.25 cents lower to 1.00 cent higher. Dry whey futures are 0.02 cents lower to 0.25 cents higher.
