OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Lower |
| SOYBEANS: | 18 Lower |
| SOYBEAN MEAL: | $7.10 Lower |
| LIVE CATTLE: | $3.47 Higher |
| DOW JONES: | 56 Points Higher |
| NASDAQ: | 243 Points Lower |
| CRUDE OIL: | $1.24 Lower |
MIDDAY MARKET UPDATE:
Block cheese futures increased a penny, closing at $1.48 with one load traded. Barrel cheese price increased 4 cents, closing at $1.44 with 10 loads traded. There was an unfilled bid for blocks and two uncovered offers. There were 23 unfilled bids for barrels remaining at the close. A large number of unfilled bids has been posted for over a week and even with the increased amount of spot trading activity, this buying interest has not subsided. Dry whey price remained steady at 38.50 with no loads traded. Class III futures were mixed prior to spot trading but turned lower after spot trading with contracts ranging from unchanged to 12 cents lower. Butter price increased 2 cents, closing at $2.6850 with four loads traded. Grade A nonfat dry milk price increased 0.25 cent, ending at $1.1725 with one load traded. Class IV futures are 10 cents lower to 10 cents higher. Butter futures are steady to 5 cents higher. Dry whey futures are steady to 0.30 cent higher. The Global Dairy Trade auction weighted average increased 1.2% on Tuesday's event.
