OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $1 Lower |
| LIVE CATTLE: | $1.52 Lower |
| DOW JONES: | 286 Points Lower |
| NASDAQ: | 150 Points Lower |
| CRUDE OIL: | $0.83 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.25 cents, closing at $1.7575 with no loads traded. There was one unfilled bid and three uncovered offers remaining. Barrel cheese price declined 4.25 cents, closing at $1.54 with seven loads traded. There were four unfilled bids and one uncovered offer at the close.
Dry whey declined 3.50 cents closing at 29 cents with 18 loads traded. This struck a blow to Class III futures with contracts unchanged at 29 cents lower. Butter exploded to the upside, moving 14 cents higher and closing at $3.18 with one load traded and two unfilled bids remaining. The price is 8.75 cents away from the record high set in October last year.
Grade A nonfat dry milk price increased 2.25 cents, closing at $1.1775 with two loads traded and adding to the bullishness. Class IV futures are steady at 42 cents higher with November showing the greatest gain. Butter futures are 1 cent lower to 7.50 cents higher. Dry whey futures are 0.25 cent lower to 0.25 cent higher.
