OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $2.90 Lower |
| LIVE CATTLE: | $0.12 Higher |
| DOW JONES: | 21 Points Lower |
| NASDAQ: | 197 Points Lower |
| CRUDE OIL: | $4.16 Higher |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained steady at $1.70 and $1.6450 respectively with no loads traded in either category. Dry whey price increased 0.50 cent, closing at 33.50 cents with 18 loads traded. Class III futures were higher early in the day then moved to mixed after spot trading only to find some strength again after traders digested spot trading activity. Butter price declined 3.50 cents closing at $3.36 with three loads traded. Price initially declined to $3.32 before buyers stepped up and became more aggressive moving it up 4 cents off the lows. This gives the impression there is no void under the market and buyers are willing to buy the break. Grade A nonfat dry milk price remained unchanged at $1.22 with no loads traded. Class IV futures are steady to a penny higher. Butter futures are steady to 2 cents lower. Dry whey futures have not yet traded.
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