OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 9 Lower |
| SOYBEAN MEAL: | $4.60 Lower |
| LIVE CATTLE: | $0.60 Higher |
| DOW JONES: | 126 Points Lower |
| NASDAQ: | 91 Points Lower |
| CRUDE OIL: | $2.03 Higher |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at $1.6735 with four loads traded. The barrel cheese price slipped 0.25 cent to close at $1.5900 with one load traded. The dry whey price remained unchanged at 69.00 cents with no loads traded. Traders focused on the slight weakness in barrels. This triggered selling in Class III futures with contracts 3 to 52 cents lower. The butter price slipped 0.50 cent to close at $1.7475 with 20 loads traded. This is the lowest butter price since Feb. 18. Grade A nonfat dry milk increased 2.25 cents to close at $1.9850 with no loads traded. Traders focused on the slight weaknes of butter rather than the strength of nonfat dry milk. Class IV futures are 5 to 26 cents lower. Butter futures are steady to 2.20 cents lower. Dry whey futures are steady to 0.75 cent lower. Cheese futures are 0.60 to 4.50 cents lower.
