OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 20 Lower |
| SOYBEAN MEAL: | $3.00 Lower |
| LIVE CATTLE: | $0.37 Higher |
| DOW JONES: | 318 Points Lower |
| NASDAQ: | 17 Points Lower |
| CRUDE OIL: | $2.41 Lower |
MIDDAY MARKET UPDATE:
Block cheese price regained the loss from Tuesday and then some with a gain of 2.50 cents closing at $1.8950 with 3 loads traded. Barrel cheese price gained 0.25 cent closing at $1.5825 with 3 loads traded. Dry whey gained 3.50 cents closing at 35.50 cents with no loads traded. Class III futures are mostly higher with gain of as much as 14 cents. The November contract shows a loss of 3 cents which may not hold through the rest of the day. Butter price increased 2.50 cents closing at $2.33 with 3 loads traded. Grade A nonfat dry milk price gained 4.75 cents closing at $1.20 with 2 loads traded. Class IV futures and mixed from 3 cents lower to 20 cents higher. Butter futures are steady to 1.50 cents lower. Dry whey futures are 0.25 cent lower to 0.75 cent higher. USDA will announce the January Federal Order prices this afternoon. The Federal Reserve will announce their decision on interest rates as well which could have impact on demand going forward.
