OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $0.30 Lower |
| LIVE CATTLE: | $0.32 Higher |
| DOW JONES: | 11 Points Lower |
| NASDAQ: | 25 Points Higher |
| CRUDE OIL: | $0.11 Lower |
MIDDAY MARKET UPDATE:
Block cheese price fell 5 cents, closing at $1.52 with two loads traded. Barrel cheese price declined 4.50 cents, ending at $1.45 with 11 loads traded. There was an unfilled bid for a load of blocks and two unfilled bids for barrels at close, unfortunately, the bids were lower than the closing prices. The number of barrels traded suggested sellers want to move supply rather than hold it for a possible price bounce that may not materialize.
Dry whey price remained unchanged at 39.50 cents with no loads traded. Class III is under pressure with prices 30 cents lower to 4 cents higher. February shows the largest decline, falling below $16. Butter price increased 3 cents, closing at $2.49 with two loads traded. Grade A nonfat dry milk price slipped 0.50 cent, ending at $1.16 with one load traded. Class IV futures are mixed from 16 cents lower to 6 cents higher. Butter futures are $1 to $4 4 higher. Dry whey futures are 0.05 to 0.25 cent higher. USDA will release the October milk production report on Monday.
