OUTSIDE MARKETS SUMMARY:
| CORN: | 15 Higher |
| SOYBEANS: | 18 Higher |
| SOYBEAN MEAL: | $11.90 Higher |
| LIVE CATTLE: | $0.15 Higher |
| DOW JONES: | 628 Points Lower |
| NASDAQ: | 423 Points Lower |
| CRUDE OIL: | $2.52 Higher |
MIDDAY MARKET UPDATE:
Block cheese price fell out of bed Thursday. The initial offer was lowered very quickly as the sellers wanted to find a buyer at any cost. I have never seen the price fall so fast during spot trading and not early in the session. Block price fell 14.50 cents, ending at $2.08, with five loads traded. This is the lowest price since March 17. There were two unfilled bids and an uncovered offer remaining at the close. Barrel price fell 7.50 cents, closing at $2.1350, with six loads traded. There were three unfilled bids and one uncovered offer remaining at the close. Dry whey price declined 1.75 cents, closing at 49.25, with four loads traded. Butter price declined a penny to $2.96 with five loads traded. Grade A nonfat dry milk price declined 2.75 cents, ending to $1.79, with one load traded. Class III futures are 6-59 cents lower. Class IV futures are 5-41 cents lower. Butter futures are 1 cent to 3.82 cents lower. Dry whey futures are 0.25 cent to 2.50 cents lower.
