OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 21 Lower |
| SOYBEAN MEAL: | $13.60 Lower |
| LIVE CATTLE: | $0.25 Higher |
| DOW JONES: | 200 Points Lower |
| NASDAQ: | 187 Points Lower |
| CRUDE OIL: | $0.18 Lower |
MIDDAY MARKET UPDATE:
Both categories of cheese prices slipped lower Wednesday. Block cheese declined 1.50 cents, closing at $1.50 with one load traded. Barrel cheese declined 0.25 cent, closing at $1.4675 with no loads traded. There was an uncovered offer remaining for both at the close. Dry whey price declined a penny, closing at 40.50 cents with six loads traded. Class III futures are mixed, ranging from 8 cents lower to 6 cents higher. Butter price gained 1.25 cents, closing at $2.58 with one load traded and an uncovered offer remaining at the close. Grade A nonfat dry milk price remained unchanged at $1.1950 with no loads traded. Class IV futures are steady to 6 cents higher. Both the December Class III contract and the December Class IV contract are 6 cents higher, giving the impression the same traders may be purchasing in each market. Butter futures are 0.75 cent lower to 1.00 cent higher. Dry whey futures are 0.47 to 0.97 cent lower.
