OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $4.10 Lower |
| LIVE CATTLE: | $0.87 Higher |
| DOW JONES: | 114 Points Lower |
| NASDAQ: | 101 Points Lower |
| CRUDE OIL: | $1.42 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 1.25 cents, closing at $1.73 with three loads traded. Price initially declined to $1.7075 before buying moved the price off the low setting. There were no unfilled bids or uncovered offers remaining at the close. Barrel cheese price declined 3.50 cents, closing at $1.70 with three loads traded. Dry whey price remained steady at 36.75 cents with no loads traded.
Class III futures are mixed, ranging from 14 cents lower to 2 cents higher. Butter price declined 6.50 cents, closing at $3.30 with four loads traded. This is the lowest price since Sept. 29.
Grade A nonfat dry milk price declined a penny to $1.21 with no loads traded. Class IV futures are 30 cents lower with only the November contract traded so far. Butter futures are 0.75 -- 7.50 cents lower. Dry whey futures are 0.40 -- 2.10 cents lower. The September Cold Storage report will be released today providing an idea on demand for the month depending on how inventory levels moved.
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