OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Lower |
| SOYBEANS: | 12 Lower |
| SOYBEAN MEAL: | $4.10 Lower |
| LIVE CATTLE: | $1.25 Lower |
| DOW JONES: | 249 Points Lower |
| NASDAQ: | 279 Points Lower |
| CRUDE OIL: | $2.06 Lower |
MIDDAY MARKET UPDATE:
Both blocks and barrels remained steady at $1.96 and $1.87 respectively with no loads traded. There was only an offer for a load of barrels remaining at the close. Dry whey price remained unchanged with no loads traded. Class III futures are mixed with contracts ranging from 3 cents lower to 12 cents higher. The selling pressure from yesterday subsided as traders positioned themselves after the uncertainty of steady prices yesterday. If anything, futures should have rebounded somewhat today due to the steady prices. Butter declined 4 cents closing at $2.63 with four loads traded. Grade A nonfat dry milk price declined 2 cents closing at $1.1225 with three loads traded. Class IV futures have not yet traded but will be lower into the end of the day due to the pressure from butter and nonfat dry milk, Butter futures are 1.00-2.60 cents lower. Dry whey futures are 0.121.00 cents higher.
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