OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Higher |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $0.90 Lower |
| LIVE CATTLE: | $0.60 Higher |
| DOW JONES: | 1,464 Points Higher |
| NASDAQ: | 499 Points Higher |
| CRUDE OIL: | $0.11 Lower |
MIDDAY MARKET UPDATE:
The election is over, and it has had no impact on the cheese market nor was it expected to have any impact. The weakness of cheese continued with buyers holding back and purchasing at lower prices. The longer the duration of lower prices, the less upside potential prices will have as buyers can pick up supply for later demand. The block cheese price declined 4 cents closing at $1.75 with three loads traded. This is the lowest price since April 30. The barrel cheese price declined 2 cents closing at $1.81 with one load traded. The dry whey price remained unchanged at 61.75 cents with no loads traded. Class III futures are 23 cents lower to 1 cent higher. The butter price remained steady at $2.6750 with no loads traded. Nonfat dry milk remained steady at $1.3950 with no loads traded. Class IV futures are unchanged to 23 cents lower with the greatest loss in the January contract. Butter futures are 0.75 cent lower to 0.27 cent higher. Dry whey futures are 0.25 cent lower to 0.15 cent higher.
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