OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 18 Higher |
| SOYBEAN MEAL: | $7.60 Higher |
| LIVE CATTLE: | $3.42 Lower |
| DOW JONES: | 434 Points Lower |
| NASDAQ: | 175 Points Lower |
| CRUDE OIL: | $8.85 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.75 cent, closing at $1.6175 with one load traded. The barrel price remained unchanged at $1.57 with one load traded. The dry whey price increased 0.50 cent, closing at 64.00 cents with no loads traded. Class III futures are 44 cents lower to 11 cents higher, with the only gain in the December contract. The butter price decreased 3.00 cents, closing at $2.01 with 47 loads traded. There were 17 unfilled bids and one uncovered offer remaining at the close of spot trading. The spot price initially dropped 8.00 cents before buying interest lifted it off the low. Grade A nonfat dry milk increased 2.75 cents to close at $1.68 with 13 loads traded. Class IV futures are 10-48 cents lower. Butter futures are 4.25-7.50 cents lower. This makes no sense as the increase in nonfat dry milk offset the loss of butter in milk pricing. Dry whey futures are 0.75 cent lower to 0.52 cent higher. Cheese futures are 0.60-3.10 cents lower.
