OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 25 Higher |
| SOYBEAN MEAL: | $6.20 Higher |
| LIVE CATTLE: | $0.22 Lower |
| DOW JONES: | 188 Points Higher |
| NASDAQ: | 149 Points Higher |
| CRUDE OIL: | $2.23 Higher |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $1.60 with no loads traded. Barrel cheese prices declined 5 cents, closing at $1.51 with four loads traded. Dry whey prices slipped 0.75 cent, closing at 40.25 with no loads traded. Class III futures are mixed but mostly lower with prices ranging from 19 cents lower to 2 cents higher. Butter price increased 2.75 cents, closing at $2.5175 with two loads traded. Grade A nonfat dry milk price remained unchanged at $1.1925 with no loads traded.
Class IV futures are 7 to 10 cents lower. Butter futures are 0.50 to 3.50 cents lower. USDA will release the October Milk Production report this afternoon. I estimate milk production to be about even with a year ago and cow numbers to be up 2,000 head from September.
