OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $2.20 Lower |
| LIVE CATTLE: | $1.30 Higher |
| DOW JONES: | 87 Points Lower |
| NASDAQ: | 44 Points Higher |
| CRUDE OIL: | $1.27 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 2.75 cents, closing at $1.6675 with one load traded. The barrel cheese price remained steady at $1.6250 with no loads traded. There were nine unfilled bids remaining at the close of spot trading with no offers for blocks. No one showed up to do any business in barrels. The dry whey price remained unchanged at 54.00 cents with no loads traded. Class III futures are ranging from 1 to 20 cents higher. Futures were higher overnight, but then showed weakness ahead of spot trading before moving higher again. The butter price increased 3.50 cents, closing at $2.50 with two loads traded. The increasing price is bringing buyers in from the sidelines to purchase before the price increases further. Grade A nonfat dry milk increased 0.50 cent, closing at $1.2925 with no loads traded. Class IV futures are steady to 21 cents higher. Butter futures are 0.25 cent lower to 3.95 cents higher. Dry whey futures are 0.25 cent lower to 0.25 cent higher.
