OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 14 Higher |
| SOYBEAN MEAL: | $0.80 Lower |
| LIVE CATTLE: | $3.75 Higher |
| DOW JONES: | 135 Points Higher |
| NASDAQ: | 74 Points Lower |
| CRUDE OIL: | $0.85 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.25 cent, closing at $1.7150 with three loads traded. The barrel cheese price declined 4.50 cents, closing at $1.78 with no loads traded. An unfilled bid for a load of blocks and an uncovered offer for a load of barrels remained at the close of spot trading. The dry whey price remained unchanged at 60.00 cents with no loads traded. Class III futures are 5 cents lower to 21 cents higher on moderate trading activity. The butter price increased by 2.00 cents, closing at $2.30 with one load traded. There were two unfilled bids and eight uncovered offers remaining at the close, which suggests limited upside price potential. Grade A nonfat dry milk gained a penny to close at $1.27 with one load traded. Class IV futures have not yet been traded. Butter futures are steady to 1.27 cents higher. Dry whey futures are 0.75 to 1.00 cents higher. Cheese futures are 0.80 cents lower to 1.70 cents higher.
