OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $4.70 Higher |
| LIVE CATTLE: | $0.47 Lower |
| DOW JONES: | 365 Points Lower |
| NASDAQ: | 109 Points Lower |
| CRUDE OIL: | $0.88 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.50 cents closing at $2.1250 with two loads traded. Barrel cheese price remained steady at $1.8175 with no loads traded. Dry whey price remained unchanged at 44 cents with no loads traded. Class III futures had been under substantial pressure since the market opened last night but have trimmed the loss. The December contract was down 45 cents at one point but is currently down 7 cents. Contracts are mixed ranging from 13 cents lower to 21 cents higher. December has had a large amount of trading activity with over 1,000 contracts changing hands. Butter price declined 1.75 cents closing at $2.93 with one load traded. Grade A nonfat dry milk price declined 0.75 cents ending at $1.39 with no loads traded. Class IV futures have bit yet traded. Butter futures are 1.00 cents lower to 2.50 cents higher. Dry whey futures are 0.60-1.00 cents lower.
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