OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $3.60 Lower |
| LIVE CATTLE: | $0.10 Higher |
| DOW JONES: | 437 Points Lower |
| NASDAQ: | 264 Points Lower |
| CRUDE OIL: | $0.95 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.25 cents, closing at $1.3635 with seven loads traded. The barrel cheese price declined 2.00 cents, closing at $1.39 with no loads traded. The dry whey price increased 0.50 cent, closing at 75.00 cents with one load traded. Class III futures are 1 cent lower to 48 cents higher. The nearby January contract shows the only loss. That is due to there only being two days remaining to trade the contract, and it is basically priced. The big move for the day was in butter, with the price gaining 9.50 cents, closing at $1.58 with one load traded. There were 12 unfilled bids and two uncovered offers remaining at the close. Grade A nonfat dry milk gained 4.25 cents to close at $1.46 with one load traded. Class IV futures are 30-75 cents higher. Butter futures are 2.77-7.00 cents higher. Dry whey futures are 0.75-3.50 cents higher. Cheese futures are steady to 2.70 cents higher. The December Agricultural Prices report will be released today.
