OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | Unchanged |
| LIVE CATTLE: | $2.60 Lower |
| DOW JONES: | 252 Points Lower |
| NASDAQ: | 386 Points Lower |
| CRUDE OIL: | $0.56 Higher |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.2850 and $1.36, respectively. There were loads traded of blocks and none of barrels. The dry whey price increased a penny, closing at 72.00 cents with one load traded. Class III futures are steady to 10 cents lower. Traders did some short covering overnight and early this morning. Once that was finished, weakness resumed. The butter price increased 0.75 cent to close at $1.3075 with 17 loads traded. Grade A nonfat dry milk increased 0.25 cent to close at $1.2425 with three loads traded. Class IV futures are 2-12 cents lower as traders were unimpressed with the minor gains in butter and nonfat dry milk. Butter futures are 1.57 cents lower to 3.67 cents higher. Dry whey futures are 0.97 cent lower to 0.50 cent higher. Cheese futures are 1.30 cents lower to 0.10 cent higher.
