OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $2.60 Lower |
| LIVE CATTLE: | $2.87 Higher |
| DOW JONES: | 66 Points Higher |
| NASDAQ: | 33 Points Higher |
| CRUDE OIL: | $1.80 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 4.50 cents, closing at $1.58 with six loads traded. Barrel cheese price declined 3.50 cents, closing at $1.5550 with two loads traded. There was an unfilled bid for a load of barrels with two uncovered offers for barrels and one for blocks. Dry whey remained unchanged at 39.50 cents with no loads traded. Class III futures are 21 cents lower to 4 cents higher. Butter price remained unchanged at $2.67 with no loads traded. No buyers showed up to the spot market with only a seller that was unwilling to lower the price. Grade A nonfat dry milk price declined 0.75 cent, closing at $1.1650 with one load traded. Class IV futures have not yet traded. Butter futures are 1 cent to 3.95 cents lower. Dry whey futures are 0.15 cent to 2.72 cents higher. USDA lowered its estimate for milk production this year to 226.9 billion pounds this year and 229.0 billion pounds next year.
