OUTSIDE MARKETS SUMMARY:
| CORN: | 12 Lower |
| SOYBEANS: | 40 Lower |
| SOYBEAN MEAL: | $1.10 Lower |
| LIVE CATTLE: | $2.45 Higher |
| DOW JONES: | 318 Points Lower |
| NASDAQ: | 87 Points Lower |
| CRUDE OIL: | $0.36 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.25 cents, ending at $2.3475 with two loads traded. Barrel cheese price declined 4 cents, ending at $2.30 with 10 loads traded. All who came to the market to do business went home satisfied as there were no unfilled bids or uncovered offers remaining at the close. Dry whey price declined a penny, ending at 59.50 cents with two loads traded. Butter price slipped 0.75 cent, closing at $2.6675 with five loads traded. Grade A nonfat dry milk price closed at $1.75, down 0.50 cent with one load traded. This put substantial pressure on Class III futures with contracts unchanged to 49 cents lower. Class IV futures are 13 to 20 cents lower. Butter futures are 1.00 to 2.80 cents lower. Dry whey futures are 0.20 to 1.97 cents lower. The activity today cast an overall near-term bearishness on the market.
