OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $0.20 Higher |
| LIVE CATTLE: | $0.52 Lower |
| DOW JONES: | 35 Points Higher |
| NASDAQ: | 159 Points Higher |
| CRUDE OIL: | $1.01 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.75 cents closing at $1.9375 with eight loads traded. The barrel cheese price declined 3 cents, closing at $1.84 with five loads traded. The dry whey price slipped 0.25 cent, closing at 56.25 cents with one load traded. This may indicate that cheese prices may have reached a threshold limiting further upside potential in the near term. Class III futures are 49 cents lower to 2 cents higher. The butter price declined a penny, closing at $2.50 with four loads traded. Grade A nonfat dry milk declined a penny, closing at $1.2775 with three loads traded. Class IV futures traded 4 cents higher in October, and the only contract with trading activity. Butter futures are 0.90 to 4.40 cents lower. Dry whey futures are 1.22 to 1.55 cents lower.
