OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $2.80 Lower |
| LIVE CATTLE: | $2.87 Higher |
| DOW JONES: | 336 Points Lower |
| NASDAQ: | 131 Points Higher |
| CRUDE OIL: | $0.58 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 2 cents, closing at $1.6250 with four loads traded. The barrel cheese price declined 2 cents, closing at $1.65 with no loads traded. Buyers continue to hold back as the sellers want to move cheese. The sellers continue to offer cheese even though they have to reduce their offers to move it. They have no desire to hold cheese for the potential of higher prices. The dry whey price increased 0.50 cent, closing at 57.25 with no loads traded. Class III futures are 1 to 20 cents lower. The butter price declined 4 cents, closing at $2.54 with no loads traded. There was one unfilled bid and three uncovered offers remaining at the close. Grade A nonfat dry milk increased 0.75 cent with four loads traded. Class IV futures have only traded in the January contract at one cent higher. Butter futures are 1.97 to 6.40 cents lower. Dry whey futures are 0.53 cent lower to 0.27 cent higher.
