OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $6.10 Lower |
| LIVE CATTLE: | $0.07 Higher |
| DOW JONES: | 162 Points Lower |
| NASDAQ: | 7 Points Higher |
| CRUDE OIL: | $1.15 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 2 cents, closing at $1.61 with two loads traded. Even though the price closed higher, the action was bearish as it initially moved to $1.6175 before selling pushed it back. Barrel cheese price had a similar pattern with the price initially moving 0.25 cent higher before selling pressure moved the price back to unchanged into the close of trading. Class III futures were higher overnight and early in the trading day but began to come under pressure moving toward spot trading. Futures currently are unchanged to 41 cents lower. Butter price declined 1.50 cents, closing at $2.8350 with two loads traded. Grade A nonfat dry milk price declined 1.75 cents, closing at $1.18 with no loads traded. Class IV futures are 26-34 cents lower. Butter futures are 3 cents lower to 0.75 cent higher. Dry whey futures are 0.27-3.70 cents lower.
