OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $0.80 Higher |
| LIVE CATTLE: | $1.82 Higher |
| DOW JONES: | 129 Points Higher |
| NASDAQ: | 6 Points Higher |
| CRUDE OIL: | $0.20 Higher |
MIDDAY MARKET UPDATE:
Spot cheese prices slipped putting pressure on Class III futures. The block cheese price declined 1.25 cents closing at $1.97 with four loads traded. The barrel cheese price slipped by 0.25 cent closing at $2.20 with two loads traded. Both categories traded at the closing prices of Thursday during spot trading before weakening. There was one uncovered offer for a load of blocks and two offers for loads of barrels at the close. The dry whey price declined a penny closing at 47 cents with two loads traded. Class III futures were lower before spot trading with further pressure on contracts after traders saw the price weakness. Futures are 5 to 42 cents lower. The butter price remained unchanged at $3.09 with no loads traded. The Grade A nonfat dry milk price remained unchanged at $1.1925 with no loads traded. Class IV future shows one trade from earlier at 39 cents higher. However, that must have been a market order and is not representative of the market due to the current bid and offers in that contract. Butter futures are steady to 0.82 cent higher. Dry whey futures are 0.02 cent higher to 0.40 cent lower.
