OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $1.10 Higher |
| LIVE CATTLE: | $1.42 Higher |
| DOW JONES: | 548 Points Higher |
| NASDAQ: | 498 Points Higher |
| CRUDE OIL: | $1.12 Higher |
MIDDAY MARKET UPDATE:
The block cheese market uncovered some buying interest. The price increased 3 cents closing at $2.2750 with three loads traded. The barrel cheese price showed weakness after nine consecutive days of gains. The price declined 1.25 cents closing at $2.61 with no loads traded. There were unfilled bids for two loads of blocks, and an uncovered offer for a load of blocks and a load of barrels. No buyers for barrels showed up during spot trading. This causes one to wonder if a price void has developed in the market. The dry whey price declined 0.75 cents closing at 58.75 cents with six loads traded. Class III futures are 14 cents lower to 21 cents higher. The butter price declined 3.50 cents closing at $2.97 with one load traded. This is the first time the price has been below $3.00 since May 29. Two offers remained at the close of trading. This solidifies that the seasonal top has been established in the market. Nonfat dry milk price declined by 0.50 cents closing at $1.3775 with 15 loads traded. Class IV futures are steady to 13 cents lower. Butter futures are 1.55 cents lower to 0.55 cents higher. Dry whey futures are 1.25 cents lower to 0.25 cents higher.
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