OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 8 Higher |
| SOYBEAN MEAL: | $6.30 Higher |
| LIVE CATTLE: | $0.32 Lower |
| DOW JONES: | 539 Points Lower |
| NASDAQ: | 242 Points Lower |
| CRUDE OIL: | $2.76 Lower |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.75 cents, closing at $1.86 with three loads traded. Barrel cheese price declined 0.50 cent, settling at $1.6250 with five loads traded. There was an unfilled bid and an uncovered offer for a load of barrels. This increased the selling pressure on Class III futures with some of the closer contracts posting double-digit losses. It seems as if traders may sense the market may have peaked for the time being. Butter price remained unchanged at $2.0925 with no loads traded. Nonfat dry milk price remained unchanged at $1.6775 with no loads traded. Dry whey price remained steady to 73 cents with no loads traded. Class III futures are 1 to 28 cents lower. Class IV futures are 23 cents lower to 1 cent higher. Butter futures are steady to 1.32 cents lower. Dry whey futures are steady to 0.32 cent lower. USDA will release the November Milk Production report Monday afternoon.
