OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 12 Lower |
| SOYBEAN MEAL: | $3.80 Lower |
| LIVE CATTLE: | $1.90 Higher |
| DOW JONES: | 248 Points Higher |
| NASDAQ: | 153 Points Higher |
| CRUDE OIL: | $0.15 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged Monday at $1.6425 and $1.66, respectively. There were no loads traded with four unfiled bids for loads of blocks and one uncovered offer for a load of barrels. Traders did not like the fact that cheese prices remained steady, reversing the overnight and early gains in Class III futures. Futures are 17 cents lower to 7 cents higher with only the December contract showing an increase. The dry whey price gained 0.50 cent, closing at 56.25 cents with no loads traded. The butter price declined 1.25 cents, closing at $2.50 as the lower trend continues. There were four loads traded. Buyers are holding back on purchases due to price weakness, showing no need to be aggressive. Grade A nonfat dry milk increased a penny, closing at $1.30 with eight loads traded. Class IV futures have not yet been traded. Butter futures are 0.50 to 1.37 cents lower. Dry whey futures are 0.20 to 1.15 cents higher.
