OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $2.50 Lower |
| LIVE CATTLE: | $0.42 Lower |
| DOW JONES: | 308 Points Higher |
| NASDAQ: | 245 Points Higher |
| CRUDE OIL: | $0.24 Lower |
MIDDAY MARKET UPDATE:
Cheese prices did not do much of anything with further weakness unfolding. Block price declined a penny to $1.59 with no loads traded. Barrel cheese price declined 1.50 cents, closing at $1.4950 with one load traded. There were six unfilled bids for barrels below the closing price, indicating to sellers that they will need to lower offers to move supply. There was one uncovered offer which set the closing price.
Dry whey price declined 0.50 cent, closing at 39.75 cents with two loads traded. Class III futures are 8 cents lower to 5 cents higher. Butter price increased for the second consecutive day, posting a gain of 1.25 cents at closing at $2.53 with eight loads traded. Sellers remain adamant at moving product. Grade A nonfat dry milk price declined 2 cents, ending at $1.1725 with one load traded. Class IV futures have not yet traded with wide bid and offers placed and held. Butter futures are 1 cent lower to 1.25 cents higher. Dry whey futures are steady to 0.90 cent lower.
