OUTSIDE MARKETS SUMMARY:
| CORN: | 24 Lower |
| SOYBEANS: | 46 Lower |
| SOYBEAN MEAL: | $7.00 Lower |
| LIVE CATTLE: | $1.15 Lower |
| DOW JONES: | 520 Points Lower |
| NASDAQ: | 10 Points Higher |
| CRUDE OIL: | $10.52 Lower |
MIDDAY MARKET UPDATE:
Block cheese prices declined 8.75 cents ending at $2.0850 with one load traded. Barrel cheese price declined 4 cents closing at $2.1650 with no loads traded. There was an offer for a load of barrels remaining at the close of trading. Dry whey price remained steady at 50 cents with no loads traded. Butter price fell 7 cents closing at $2.94 with 9 loads traded. Grade A nonfat dry milk declined 5.50 cents ending at $1.7475 with no load traded. The decline in nonfat dry milk is large and very unusual with no loads traded. The fact that there were only offers in the market does not bode well for nonfat price. Impact from the economy is having a greater influence on demand and trader psychology than had been anticipated. Class III futures are 10-64 cents lower. Class IV futures are 10-50 cents lower. Butter futures are 0.50 cents higher to 2.77 cents lower. Dry whey futures are unchanged to 0.77 cents lower.
