OUTSIDE MARKETS SUMMARY:
| CORN: | Steady |
| SOYBEANS: | Steady |
| SOYBEAN MEAL: | $3.90 Lower |
| LIVE CATTLE: | $2.45 Lower |
| DOW JONES: | 168 Points Lower |
| NASDAQ: | 140 Points Lower |
| CRUDE OIL: | $0.03 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.25 cent, closing at $1.6375 with no loads traded. The barrel cheese price remained unchanged at $1.6450. The dry whey price increased 0.25 cent, closing at 64.75 cents. Class III futures are 28 cents lower to 2 cents higher. The butter price increased 2.00 cents, closing at $1.64 with 21 loads traded. Grade A nonfat dry milk increased 0.25 cent, closing at $1.1475 with 10 loads traded. Trading activity is nonfat dry milk has been heavy recently, with sellers wanting to move supplies. Class IV futures are 5-10 cents lower. Butter futures are 5.02 cents lower to 1.22 cents higher. The September contract shows the greatest loss in response to the AMS weekly prices. Dry whey futures are 0.25 0 0.52 cent higher. Cheese futures are 0.10 to 2.10 cents lower. The USDA will release the August Livestock Slaughter report Thursday afternoon.
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