OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 37 Lower |
| SOYBEAN MEAL: | $5.10 Lower |
| LIVE CATTLE: | $2.25 Higher |
| DOW JONES: | 578 Points Higher |
| NASDAQ: | 310 Points Higher |
| CRUDE OIL: | $2.66 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.4600 and $1.4625, respectively. Buyers did not show up Friday, with only an offer posted in each category. Dry whey price remained unchanged at 76.00 cents, with no loads traded. Class III futures are mixed, ranging from 5 cents lower to 9 cents higher. The butter price remained steady at $1.3700 with 12 loads traded. There were 15 unfilled bids and 30 uncovered offers. Grade A nonfat dry milk gained 3.00 cents to close at $1.9700 with four loads traded. Class IV is 8-27 cents lower. Futures are adjusting to move in line with underlying cash and ahead of the weekend. Butter futures are 1.35 cents lower to 0.50 cent higher. Dry whey futures are 0.47 cent lower to 0.47 cent higher. Cheese futures are 1.00 cent lower to 0.60 cent higher. Nonfat dry milk futures are 0.25-1.00 cent lower. The World Agricultural Supply and Demand Estimates (WASDE) report was released, with USDA increasing its estimate for milk production to 237.2 billion pounds for this year and to 238.6 billion pounds for next year.
