OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 23 Lower |
| SOYBEAN MEAL: | $10.10 Higher |
| LIVE CATTLE: | $0.25 Higher |
| DOW JONES: | 320 Points Lower |
| NASDAQ: | 210 Points Lower |
| CRUDE OIL: | $0.40 Lower |
MIDDAY MARKET UPDATE:
Buyers came in aggressively to purchase block cheese, pushing price 4.50 cents higher to close at $1.91 with 2 loads traded. Barrel cheese price declined 2 cents closing at $1.66 with 2 loads traded. Dry whey price remained unchanged at 71.25 cents with no loads traded. this pushed Class III futures prices higher after trading mixed with light activity since last night. Butter price declined 6.25 cents closing at $2.06 with 9 loads traded. Grade A nonfat dry milk price increased 0.50 cent closing at $1.63 with 2 loads traded. This did not have much initial impact on Class IV futures as traders seem unsure of what to do. Class III futures are 1-21 cents higher as traders focus on the strength of blocks. Class IV futures are unchanged to 9 cents lower. Butter futures are 1.00 cents lower to 2.22 cents higher. Dry whey futures are unchanged to 0.25 cent higher.
