OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $0.32 Higher |
| LIVE CATTLE: | $2.12 Higher |
| DOW JONES: | 45 Points Lower |
| NASDAQ: | 24 Points Higher |
| CRUDE OIL: | $0.50 Higher |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged, closing at $1.73 with no loads traded and one bid and one offer left unfilled at the final bell. The barrel cheese price closed 0.25 cents lower at $1.6875 with two loads traded. There was one standing offer at the close. The dry whey price increased by 1.50 cents, closing at 73 cents with two loads traded, continuing the small rally to start the week. Class III futures are mixed anywhere from 2 cents lower to 1 cent higher. The butter price remained unchanged at $2.53 with no loads traded. Four uncovered offers remained at the close of spot trading. Grade A nonfat dry milk slipped 0.5 cent, closing at $1.3825 with two loads traded and two unfilled offers. Class IV futures are unchanged to 1 cent higher. Butter futures are 0.10 to 0.22 cents higher. Dry whey futures are 0.225 cents lower to 0.25 cents higher. The WASDE report was released today with higher production, and mostly lower prices. More detail to come on this afternoon's closing comments.
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