OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $2.60 Higher |
| LIVE CATTLE: | $0.65 Higher |
| DOW JONES: | 590 Points Higher |
| NASDAQ: | 44 Points Lower |
| CRUDE OIL: | $0.93 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased by 0.50 cent closing at $1.8650 with two loads traded. The barrel cheese price increased by 2.25 cents closing at $1.8875 with no loads traded. There was an unfilled bid in both categories remaining at the close. Buyers took advantage of the price decline on Monday to step up to purchase supply. Unfortunately, the buyer for barrels could not pick anything at the lower price. The dry whey price remained unchanged at 50 cents with no loads traded. Class III futures are 1 to 11 cents higher with trading activity light and confined to contracts through January. The butter price increased by 1.50 cents extending the gain Monday with the price closing at $3.1375 with four loads traded. Grade A nonfat dry milk slipped by 0.50 cent closing at $1.17 with three loads traded. The weakness of nonfat dry milk offset much of the gain of butter. Class IV futures show trading activity only in the December contract at 5 cents lower. Butter futures are 2.47 cents lower to 3.00 cents higher. Dry whey futures have not yet traded.
