OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $5.40 Higher |
| LIVE CATTLE: | $7.25 Lower |
| DOW JONES: | 300 Points Higher |
| NASDAQ: | 236 Points Higher |
| CRUDE OIL: | $0.80 Lower |
MIDDAY MARKET UPDATE:
Both the block and barrel cheese prices remained unchanged at $1.6475 and $1.70, respectively. There were no loads traded in either category. The dry whey price remained unchanged with no loads traded. Class III futures are 2 to 23 cents higher in contracts through March and unchanged to 11 cents lower thereafter. The butter price declined 2.75 cents, closing at $1.4725 with 13 loads traded. Grade A nonfat dry milk remained unchanged at $1.13 with no loads traded. Class IV futures are 21 cents lower to 7 cents higher. Butter futures are 3.05 cents lower to 0.17 cent higher. Dry whey futures are 0.42 cent lower to 1.7 cents higher. Cheese futures are 0.20 cent lower to 1.50 cents higher. USDA will announce the October Federal Order class price this afternoon. The trade expectation is for a Class III price of $16.92 and a Class IV price of $14.25.
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