OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $0.60 Higher |
| LIVE CATTLE: | $2.32 Lower |
| DOW JONES: | 702 Points Lower |
| NASDAQ: | 245 Points Lower |
| CRUDE OIL: | $0.13 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.75 cents, closing at $1.5150 with six loads traded. The price initially declined 0.25 cent before buying interest took the price higher. The barrel cheese price remained unchanged at $1.49 with no loads traded. The dry whey price decreased 2.50 cents to close at 65.50 cents with no loads traded. Class III futures are mixed, ranging from 6 cents lower to 11 cents higher. Contracts through June are lower, while later contracts are higher in light trading activity. The butter price decreased 5.75 cents, closing at $1.8125 with 18 loads traded. The Grade A nonfat dry milk price decreased 4.00 cents to close at $1.6450 with two loads traded. Class IV futures are steady to 26 cents higher. Butter futures are 0.95 cent lower to 4.00 cents higher and are not reacting to the lower butter and nonfat prices. Dry whey futures are 0.55-2.00 cents lower. Cheese futures are 0.60 cents lower to 1.30 cents higher.
