OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $2.30 Higher |
| LIVE CATTLE: | $1.67 Higher |
| DOW JONES: | 217 Points Higher |
| NASDAQ: | 493 Points Lower |
| CRUDE OIL: | $1.95 Higher |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.50 cent closing at $1.86 with eight loads traded. The barrel cheese price gained 2.50 cents closing at $1.9125 with seven loads traded. There is more buyer interest for barrels keeping the spread inverted. The dry whey price remained unchanged at 50 cents with no loads traded. Class III futures are 2 cents lower to 17 cents higher. Butter price slipped 0.75 cent closing at $3.13 with no loads traded. Grade A nonfat dry milk declined 0.50 cent closing at $1.1650 with three loads traded. Class IV futures have only traded in the January contract at 13 cents lower. Butter futures are 2.00 cents lower to 0.52 cent higher. Dry whey futures are unchanged to 0.27 cent higher. Traders continue to scalp the market with short-term and even daily trading. The continued choppy price action of underlying cash provides no solid direction.
