OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $5.40 Lower |
| LIVE CATTLE: | $0.22 Higher |
| DOW JONES: | 121 Points Higher |
| NASDAQ: | 21 Points Higher |
| CRUDE OIL: | $1.16 Higher |
MIDDAY MARKET UPDATE:
Block cheese prices declined 2 cents, closing at $1.59 with no loads traded and only sellers showing up during spot trading. Barrel cheese price increased 5.75 cents, closing at $1.4850 with two loads traded. There was one unfilled bid with seven uncovered offers remaining at the close. The price initially gained 7.50 cents before selling pressure took it off the highs. This maintained a negative tone in the market along with the decline of blocks.
Dry whey price was unchanged at 39.75 cents with four loads traded. Class III futures are 9 cents lower to 8 cents higher with the only gains posted in the April and May contracts. Butter price gained 5.50 cents, closing at $2.6225 with no loads traded and only a buyer showing up during spot trading.
Grade A nonfat dry milk increased 0.50 cent, closing at $1.1950 with no loads traded. Class IV futures are steady to 28 cents higher. Butter futures are 2 to 3.87 cents higher. Dry whey futures are steady to 0.50 cent lower. USDA will release the November Federal Order class prices this afternoon.
