OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $5.60 Lower |
| LIVE CATTLE: | $1.17 Lower |
| DOW JONES: | 255 Points Lower |
| NASDAQ: | 225 Points Lower |
| CRUDE OIL: | $0.84 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined by 6.50 cents to close at $2.0750 with one load traded. The barrel cheese price fell 12.50 cents, closing at $2.1250 with one load traded. No unfilled bids for blocks remained with two loads offered at the close. Barrels had two unfilled bids and one uncovered offer remaining. The dry whey price declined 1.25 cents, closing at 55.25 cents with five loads traded. Class III futures are 40 cents lower to 16 cents higher. They are holding well, considering the large decline in cheese and the loss in dry whey. Traders seem to believe it will be temporary. The butter price remained unchanged at $3.1975 with no loads traded. Grade A nonfat dry milk declined a penny, closing at $1.3050 with five loads traded. Class IV futures are 17 to 22 cents lower. Butter futures are 0.92 cent lower to 0.22 cent higher. Dry whey futures are steady to 0.30 cent higher.
