OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 21 Lower |
| SOYBEAN MEAL: | $5.80 Lower |
| LIVE CATTLE: | $1.07 Lower |
| DOW JONES: | 132 Points Lower |
| NASDAQ: | 21 Points Higher |
| CRUDE OIL: | $0.06 Higher |
MIDDAY MARKET UPDATE:
Block cheese price fell 6 cents closing at $1.9475 with one load traded. The trade did not take place until near the close of spot trading setting the low price. There were no unfilled bids or uncovered offers remaining at the close. Barrel cheese price increased 0.75 cent closing at $1.8125. Price initially gained a penny before slipping back. Dry whey price declined 0.50 cent closing at 25.50 cents with five loads traded. Class III futures are 23 cents lower to 14 cents higher. Butter price declined 5 cents closing at $2.69 with 38 loads traded. There were five unfilled bids and one uncovered offer remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.1025. There has been a lot of product changing hands recently without the need for buyers to be very aggressive. This may limit upside price potential down the road as buyers are increasing ownership of supply now. Class IV futures are 5 cents lower. Butter futures are 0.65-2.50 cents higher. Dry whey futures are 0.15-0.37 cent higher.
