OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Lower |
| SOYBEANS: | 20 Lower |
| SOYBEAN MEAL: | $16.30 Lower |
| LIVE CATTLE: | $2.00 Lower |
| DOW JONES: | 153 Points Lower |
| NASDAQ: | 20 Points Higher |
| CRUDE OIL: | $0.71 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $1.72 with no loads traded. There was an unfilled bid and uncovered offer remaining at the close. Barrel cheese price gained a penny, closing at $1.48 with four loads traded and one unfilled bid remained at the close. The gain of barrel price was offset by the decline of dry whey. Dry whey price slipped 0.50 cent, closing at 29 cents with 16 loads traded. Class III futures are mixed, ranging from 25 cents lower to 25 cents higher. The greatest loss is way out in the October 2024 contract while the greatest gain is in November 2023. Butter price may have run its course, declining 3.50 cents, ending at $3.30 with one load traded. There was an offer remaining on the board at the close. Grade A nonfat dry milk price gained 0.25 cent, closing at $1.1850 with two loads traded. Class IV futures steady to 27 cents lower. Butter futures are 1.97 cents lower to 3.00 cents higher. Dry whey futures are unchanged to 0.20 cent lower. The Quarterly grain stocks report was bearish for soybeans and wheat and neutral for corn. USDA will release the August Agricultural Prices report Friday afternoon, providing the average prices used for income over feed.
