OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $1.70 Lower |
| LIVE CATTLE: | $0.47 Lower |
| DOW JONES: | 539 Points Higher |
| NASDAQ: | 40 Points Higher |
| CRUDE OIL: | $1.03 Higher |
MIDDAY MARKET UPDATE:
The recent strength of block cheese was nearly wiped-out Thursday with barrels giving back all of it. The block cheese price fell by 4.25 cents closing at $1.6825 with only one load traded, and uncovered offers for five loads remaining at the close. The barrel cheese prices fell 5 cents closing at $1.68 with three loads traded with no bids or offers remaining at the close. The dry whey price increased by 0.75 cents closing at 64.75 with three loads traded. Class III futures are 5 to 49 cents lower with January posting the greatest loss. The butter price slipped 0.25 cent closing at $2.5475 with no loads traded. There was an unfilled bid way down at $2.45 and three uncovered offers remaining at the close. The low bid is a concern as that was the area of interest, which could mean butter price may decline further. Grade A nonfat dry milk declined 2 cents closing at $1.38 with six loads traded. Class IV futures are steady to 38 cents lower. Butter futures are 0.02 cent higher to 3.00 cents lower. Dry whey futures are 0.32 cent lower to 0.75 cent higher. The USDA will release the October Livestock Slaughter report Thursday afternoon and will show the volume of dairy cattle slaughter for the month.
