OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lowe |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $5.30 Lower |
| LIVE CATTLE: | $0.37 Lower |
| DOW JONES: | 269 Points Lower |
| NASDAQ: | 18 Points Lower |
| CRUDE OIL: | $0.83 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 2 cents, closing at $1.4375 with five loads traded. Barrel cheese price increased by 0.75 cent, closing at $1.4350 with thee loads traded. Dry whey price increased by 0.25 cent, closing at 40.50 cents with one load traded. Traders are not buying into the increase in spot prices and remain cautious.
Class III futures are 25 cents lower to 1 cent higher. The greatest loss is out in the December contract with a good amount of trading volume. The only gain is in the front-month March with its final trading day on Tuesday. Butter price increased by 0.75 cent, closing at $2.85 with two loads traded. Grade A nonfat dry milk price remained unchanged at $1.12 with no loads traded. Class IV futures have not yet been traded. Butter futures are steady to 3.80 cents higher. Dry whey futures are 0.50 cent lower to 0.17 cent higher.
