OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.20 Lower |
| LIVE CATTLE: | $0.05 Lower |
| DOW JONES: | 155 Points Lower |
| NASDAQ: | 50 Points Lower |
| CRUDE OIL: | $0.07 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 3.75 cents, closing at $1.7875 with six loads traded. This is the highest price since Nov. 5. The barrel cheese price increased by 5.50 cents, closing at $1.73 with four loads traded. This is the highest price since Nov. 20. An unfilled bid and two uncovered offers for barrels remained at the close of spot trading. The dry whey price increased 1.75 cents, closing at 76.75 cents with no loads traded. This is another new high for the year. Class III futures are 5 cents lower to 62 cents higher with the only loss in the nearby December contract. The January through March contracts moved above $20.00. The butter price slipped 0.25 cent, closing at $2.5250 with no loads traded and no buyers showing up during the trading session. Nonfat dry milk declined by 0.50 cent, closing at 1.3775 with seven loads traded. Class IV futures are 8 to 15 cents higher. Butter futures are steady to 3.00 cents lower. Dry whey futures are 0.52 cent lower to 1.00 cents higher.
