OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $0.80 Higher |
| LIVE CATTLE: | $0.50 Lower |
| DOW JONES: | 221 Points Lower |
| NASDAQ: | 66 Points Lower |
| CRUDE OIL: | $0.20 Higher |
MIDDAY MARKET UPDATE:
Block cheese price was able to hold for another day at the price of $1.88 with no loads traded and 2 unfilled bids remaining at the close. Both bids were way down at $1.50 and $1.51. Barrel cheese price fell 6 cents, closing at $1.66 with 8 loads traded. Price initially moved down to $1.65 before late buying interest came into spot trading bouncing it off the lows. There were 7 unfilled bids remaining in the market with no uncovered offers. This might suggest sellers might have sold what they needed, and buyers could potentially step in to purchase at the lower price tomorrow. Of course, that may change tomorrow depending on who needs to do what. Dry whey declined 0.75 closing at 28.50 cents with 3 loads traded. Class III futures are again under pressure with contracts ranging from steady to 37 cents lower. Butter price gained 6 cents closing at $2.83 with 3 loads traded and 3 unfilled bids remaining. This moved price above the previous high last week with price back to December levels. Grade A nonfat dry milk gained 0.75 cent closing at $1.12 with 3 loads traded. Class IV futures are 5 cents lower to 5 cents higher. Butter futures are 0.37-5.50 cents higher. Dry whey futures are 0.15 cent lower to 0.10 cent higher.
