OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $1.10 Higher |
| LIVE CATTLE: | $0.07 Higher |
| DOW JONES: | 438 Points Higher |
| NASDAQ: | 43 Points Lower |
| CRUDE OIL: | $0.70 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.50 cents, closing at $1.79 with six loads traded. The barrel cheese price increased 5.00 cents, closing at $1.77 with one load traded. There were no unfilled bids or uncovered offers remaining at the close. The block price is at the highest level since Aug. 26, with the barrel price at the highest level since Sept. 3. It certainly appears that delayed seasonal buying has kicked in. The dry whey price decreased a penny, closing at 63.00 cents with no loads traded. Class III futures are significantly lower, posting double-digit losses as traders may be concerned over there being no unfilled bids remaining in spot cheese at the close. The butter price remained unchanged at $1.75 with four loads traded. There were three unfilled bids and six uncovered offers remaining at the close. Grade A nonfat dry milk increased a penny to close at $1.16 with six loads traded. Class IV futures have not yet been traded. Butter futures are 1.00 cent lower to 3.00 cents higher. Dry whey futures are 1.00 cent lower to 1.52 cents higher. Cheese futures are steady to 2.60 cents lower.
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