OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $2.00 Lower |
| LIVE CATTLE: | $0.32 Higher |
| DOW JONES: | 124 Points Higher |
| NASDAQ: | 2 Points Lower |
| CRUDE OIL: | $1.61 Lower |
MIDDAY MARKET UPDATE:
Block cheese price slipped 0.25 cents closing at $1.9875 with no loads traded. Barrels cheese price declined 0.50 cents closing at $1.6650 with no loads traded. Sellers did not step up very aggressively but tested the market to see if buyers needed to still purchase cheese even though prices moved up substantially yesterday. Buyers are likely to continue to hold back now there has been some weakness. Dry whey slipped 0.25 cents closing at 32.50 cents with seven loads traded. Class III futures were higher posting double-digit gains prior to spot trading but have turned and are now 2-14 cents lower except for the November contract which is a penny higher and has not traded for quite some time. Butter price declined 1.50 cents closing at $2.2675 with one load traded. Grade A nonfat dry milk price declined 0.50 cents ending at $1.1675 with one load traded. Class IV futures are 2 cents higher to 14 cents lower. Butter futures are 0.47–0.50 cents higher. Dry whey futures are steady to 0.50 cent lower.
