OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $1.50 Lower |
| LIVE CATTLE: | $1.95 Lower |
| DOW JONES: | 309 Points Higher |
| NASDAQ: | 25 Points Higher |
| CRUDE OIL: | $2.11 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined by 3 cents, closing at $1.72 with one load traded. An unfilled bid and two uncovered offers remained at the close of spot trading. The barrel cheese price declined 3.25 cents, closing at $1.7675 with no loads traded and no buyers showing up to do any business. Cheese prices remain unable to find a bottom. The block price is down to the lowest level since April 19. The dry whey price remained unchanged at 63 cents with no loads traded. Class III futures are 20 cents lower to 4 cents higher. The butter price declined 1.25 cents closing at $2.65 with no loads traded. There were seven uncovered offers with no bids. It is surprising the loss was not greater. Grade A nonfat dry milk increased 0.25 cent closing at $1.3675 with five loads traded. Class IV futures are 5 to 8 cents lower. Butter futures are steady to 2.25 cents lower. Dry whey futures have not yet traded. USDA increased milk production this year by 200 million pounds and left next year unchanged from the October estimate.
