OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 23 Lower |
| SOYBEAN MEAL: | $6.40 Lower |
| LIVE CATTLE: | $1.75 Lower |
| DOW JONES: | 162 Points Lower |
| NASDAQ: | 149 Points Lower |
| CRUDE OIL: | $0.41 Lower |
MIDDAY MARKET UPDATE:
Block cheese price declined 3 cents closing at $1.77 with no loads traded with one offer remaining at the close. Barrel cheese price declined 4.50 cents closing at $1.5650 with nine loads traded. There were seven unfilled bids below the market at the close. The dry whey price remained unchanged at 28.75 with no loads traded. Class III futures are holding well due to the market likely being overdone to the downside earlier. Class III futures are 14 cents lower to 12 cents higher. Butter price jumped 9.50 cents closing at $2.9350 with no loads traded. Buyers were aggressive with 12 unfilled bids remaining at the close with no interest from sellers. Grade A nonfat dry milk price gained 3.25 cents closing at $1.16 with seven loads traded. Class IV futures are 10-54 cents higher. Butter futures are 1.00-7.25 cents higher. Dry whey futures are unchanged to 0.40 cent higher. USDA will release the August Livestock Slaughter report today.
