OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 38 Lower |
| SOYBEAN MEAL: | $13.50 Lower |
| LIVE CATTLE: | $2.02 Higher |
| DOW JONES: | 571 Points Lower |
| NASDAQ: | 381 Points Lower |
| CRUDE OIL: | $0.31 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 3.75 cents, closing at $2.2175 with two loads traded. Barrel cheese price declined 2.25 cents, closing at $2.22 with three loads traded. Dry whey price declined 2.75 cents, ending at 51.50 cents with no loads traded. This put pressure on Class III futures with contracts steady to 23 cents lower. Butter price declined 4.50 cents, closing at $2.93 with two loads traded. Grade A nonfat dry milk price remained unchanged at $1.8550 with no loads traded. Class IV futures are 38 to 45 cents lower. Butter futures are 0.85 to 4.67 cents lower. Dry whey futures are 1.00 to 2.97 cents lower. This is taking some of the optimism out of the market, making it more difficult for futures to rally back again even if spot prices find some support.
