OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $0.20 Higher |
| LIVE CATTLE: | $0.57 Higher |
| DOW JONES: | 673 Points Higher |
| NASDAQ: | 790 Points Higher |
| CRUDE OIL: | $4.42 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.25 cents to close at $1.4750 with 26 loads traded. There were three unfilled bids and five uncovered offers remaining at the close of spot trading. The price initially moved 0.75 cent higher before selling pressure moved the price lower. The barrel cheese price was unchanged at $1.42 with no loads traded. The dry whey price gained 0.75 cent to close at 68.75 cents with no loads traded. Class III futures are 17 cents lower to 1 cent higher. The butter price declined 4.25 cents to close at $1.6250 with one load traded. The one load was traded at the closing price. There were five unfilled bids and 27 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk declined 4.00 cents to close at $1.7450 with five loads traded. The market has not been able to find support and is declining faster than it increased. The price is at the lowest level since March 11. Class IV futures are 5-58 cents lower. Butter futures are 3.25 cents lower to 0.32 cent higher. Dry whey futures are steady with light activity. Cheese futures are 0.10-1.90 cents lower.
