OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $0.40 Higher |
| LIVE CATTLE: | $2.60 Lower |
| DOW JONES: | 374 Points Lower |
| NASDAQ: | 72 Points Lower |
| CRUDE OIL: | $0.87 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 3.00 cents, eliminating the gain on Wednesday. The price closed at $1.63 with 4 loads traded. The barrel price declined 1.50 cents to close at $1.60 with no loads traded. Three uncovered offers moved the price lower. Surprisingly, these offers surfaced as barrels have seen very limited interest for quite some time. The dry whey price slipped 0.50 cent to close at 69.50 cents with no loads traded. Class III futures are holding well with contracts ranging from steady to 16 cents lower. The butter price declined a penny, closing at $1.6300 with no loads traded. There were 3 unfilled bids and 27 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk increased 0.25 cent to close at $2.2950 with one load traded. Class IV futures are 22 cents lower to 41 cents higher. Butter futures quickly turned lower after the spot price lost strength as the spot price declined. Futures are 2.67 cents lower to 1.52 cents higher. Dry whey futures are 1.00 cents lower to 0.02 cent higher. Cheese futures are 1.10 cents lower to 0.10 cent higher.
