OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 9 Higher |
| SOYBEAN MEAL: | $2.90 Higher |
| LIVE CATTLE: | $1.60 Lower |
| DOW JONES: | 59 Points Lower |
| NASDAQ: | 82 Points Higher |
| CRUDE OIL: | $0.28 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.00 cent to close at $1.4875 with two loads traded. The price did trade down to $1.4850 during spot trading before coming back. The barrel cheese price remained unchanged at $1.44 with no loads traded. The dry whey price remained unchanged at 69.00 cents with no loads traded. Class III futures are 11 cents lower to 7 cents higher. The butter price gained 1.50 cents to close at $1.6350 with 30 loads traded. The price ranged from $1.6250 to $1.6700 during the spot trading period. There were 6 unfiled bids and 30 uncovered offers remaining at the close of spot trading. This may indicate the upside may be limited. Grade A nonfat dry milk slipped 0.75 cent to close at $2.0850 with 15 loads traded. Class IV futures are 7-50 cents higher. Butter futures are 0.80 -- 3.12 cents higher. Dry whey futures are 0.60 -- 0.90 cent higher. Cheese futures are 1.00 cent lower to 0.40 cent higher.
