OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 6 Higher |
| SOYBEAN MEAL: | $2.40 Higher |
| LIVE CATTLE: | $1.07 Higher |
| DOW JONES: | 126 Points Lower |
| NASDAQ: | 127 Points Lower |
| CRUDE OIL: | $0.50 Lower |
MIDDAY MARKET UPDATE:
Cheese prices set back Wednesday with blocks declining 5.25 cents to a new low since the decline began in September. The price settled at $1.6425 with one load traded. The barrel price declined 3.50 cents closing at $1.6050 with six loads traded. The dry whey price gained 2 cents, closing at 71 cents and another new high for the year. There were two loads traded. Class III futures came under pressure following the weakness of cheese with contracts unchanged to 37 cents lower. The greatest decline took place in the January and February contracts. The butter price gained 0.75 cent closing at $2.4925 with one load traded. Grade A nonfat dry milk gained 0.50 cent closing at $1.3950 with five loads traded. Class IV futures are 10 cents lower to 20 cents higher. Butter futures are 0.67 cent lower to 2.00 cents higher. Dry whey futures are 1.35 cents lower to 0.50 cent higher. Wednesday is the last trading day of the week as the dairy markets will be closed for Thanksgiving and on Friday.
