OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $0.40 Higher |
| LIVE CATTLE: | $1.32 Higher |
| DOW JONES: | 140 Points Lower |
| NASDAQ: | 17 Points Lower |
| CRUDE OIL: | $1.16 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 2 cents, closing at $1.57 with 10 loads traded. The price initially increased to $1.5775 before slipping back. The barrel cheese price slipped 0.50 cent, closing at $1.5625 with three loads traded. It initially increased to $1.57 before falling back to the closing price. Dry whey declined 1.25 cents, closing at 36.75 cents with three loads traded. Traders did not like the weakness of barrels and dry whey pushing Class III futures into negative territory. Contracts range from unchanged to 25 cents lower. The butter price remained unchanged at $2.97 with no loads traded. No buyers showed up to do any business with two uncovered offers remaining at the close. Grade A nonfat dry milk price slipped 0.25 cent, closing at $1.1350 with three loads traded. Class IV futures have not yet been traded. Butter futures are 1.37 cents lower to 050 cent higher. Dry whey futures are 0.50 to 1.75 cents lower.
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