OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $3.60 Lower |
| LIVE CATTLE: | $1.65 Lower |
| DOW JONES: | 215 Points Lower |
| NASDAQ: | 172 Points Lower |
| CRUDE OIL: | $3.44 Lower |
MIDDAY MARKET UPDATE:
Cheese prices finally showed good strength in both categories as buyers became more aggressive. The block cheese price gained 5.75 cents closing at $1.9375 with two loads traded. The barrel cheese price gained 4.50 cents closing at $1.89 with two loads traded. An unfilled bid for a load of blocks remained at the close. Hopefully, buyers will hold back to see if buyers will be more aggressive and want to take advantage of the lower prices. If that is the case, prices could move higher for a time. The dry whey price increased by 0.25 cents closing at 59.75 cents with three loads traded. Class III futures are 2 to 39 cents higher with November and December showing the greatest gains. The butter price closed unchanged after initially gaining 1.50 cents. The prices closed at $1.6150 with 46 loads traded. The volume of loads coming to the market keeps the butter price from increasing. Nonfat dry milk declined 0.50 cents closing at $1.35 with two loads traded. Class IV futures have not yet been traded. Butter futures are steady to 3.50 cents higher. Dry whey futures are 1.22 cents lower to 1.00 cents higher. The Global Dairy Trade auction showed a decline of 0.3%.
