OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Higher |
| SOYBEANS: | 14 Lower |
| SOYBEAN MEAL: | $3.10 Lower |
| LIVE CATTLE: | $1.60 Lower |
| DOW JONES: | 73 Points Higher |
| NASDAQ: | 14 Points Lower |
| CRUDE OIL: | $0.29 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.75 cent, closing at $1.9675 with one load traded. The price initially increased a penny before it traded, but an offer moved the prices off the high. The barrel cheese price remained unchanged at $1.94 with 15 loads traded. The price initially increased 2.50 cents before selling pressure took the price back down to unchanged. There was an unfilled bid and an uncovered offer remaining in each category. The dry whey price gained 0.50 cent, closing at 49 cents with two loads traded. Class III futures in nearby months showed double-digit gains early in the day but fell to double-digit losses. Later contacts are mixed with light trading activity. The butter price increased a penny, closing at $3.14 with three loads traded. Nonfat dry milk slipped 0.25 cent, closing at $1.18 with five loads traded. Class IV futures have not yet been traded. Butter futures are 3.50 cents lower to 0.97 cent higher. The pressure is on the March and April contracts of next year. Dry whey futures are trading steady.
