OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 16 Lower |
| SOYBEAN MEAL: | $16.50 Lower |
| LIVE CATTLE: | $0.97 Higher |
| DOW JONES: | 486 Points Higher |
| NASDAQ: | 119 Points Higher |
| CRUDE OIL: | $3.06 Lower |
MIDDAY MARKET UPDATE:
Block cheese price declined 1.50 cents, closing at $1.7150 with three loads traded. Price initially moved to $1.7025 before a buyer became more aggressive, bringing the price up from the low. Block cheese price declined 1.50 cents with three loads traded. Dry whey price declined 2.75 cents, closing at 37.25 with nine loads traded.
Class III futures are 12 cents lower to 1 cent higher. Butter jumped 10.75 cents, closing at $3.30 with three loads traded with an unfilled bid left on the board. This was a surprise and indicates buyers have sufficient supply purchased for end-of-the-year needs. There are always more orders coming in that need to be filled outside of what is contracted. Grade A nonfat dry milk price remained unchanged at $1.1975 with no loads traded. Class IV futures are 5 cents lower to 1 cent higher. Butter futures are 0.32 to 4.70 cents higher. Dry whey futures are 0.37 to 1.47 cents lower.
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