OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $1.30 Higher |
| LIVE CATTLE: | $0.85 Higher |
| DOW JONES: | 118 Points Higher |
| NASDAQ: | 122 Points Lower |
| CRUDE OIL: | $2.73 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 2.50 cents to close at $1.4400 with 26 loads traded. There were 3 unfilled bids and 1 uncovered offer remaining. The barrel cheese price increased 1.75 cents to close at $1.4775 with no loads traded. The dry whey price remained unchanged at 68.50 with no loads traded. Class III futures are 19 cents lower to 2 cents higher, with most contracts posting losses. One would think that futures would be higher with the strength, but traders think it will be short-lived. The butter price increased 5.00 cents to close at $1.5250 with 1 load traded. There were 19 unfilled bids and 5 uncovered offers remaining at the close. Grade A nonfat dry milk decreased 2.50 cents to close at $1.5750 with 11 loads traded. Class IV futures are 9 cents lower to a penny higher. Butter futures are 2.50 cents lower to 2.00 cents higher. Dry whey futures are steady to 0.25 cent lower. Cheese futures are steady to 1.70 cents lower. Nonfat dry milk futures are 0.40 cent lower to 0.42 cent higher.
