OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $3,90 Higher |
| LIVE CATTLE: | $0.92 Higher |
| DOW JONES: | 108 Points Lower |
| NASDAQ: | 58 Points Lower |
| CRUDE OIL: | $0.73 Higher |
MIDDAY MARKET UPDATE:
The three-day price increase came to an end with cheese prices slipping back. Blocks declined a penny, closing at $1.55 with four loads traded. Barrel cheese price declined 3 cents, closing at $1.45 with eight loads traded. There was an uncovered offer for one load of blocks and offers for three loads of barrels remaining at the close. The weakness may cause buyers to step back again and sellers to become more aggressive. Dry whey price remained unchanged at 43 cents with no loads traded. Class III futures were higher in nearby months prior to spot trading but quickly turned lower with cheese weakness. Futures are 3 to 34 cents lower. Butter price slipped 0.25 cent, closing at $2.5650 with 12 loads traded. Price initially 1.25 cents before falling back to the closing price. This may briefly send buyers to the sidelines as they wait for lower prices to step back in again. There were seven unfilled bids remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.1925 with no loads traded. Class IV futures are 2 to 10 cents lower. Butter futures are 2.00 cents lower to 0.25 cent higher. Dry whey futures are 0.50 to 0.60 cent higher.
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