OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $2.10 Lower |
| LIVE CATTLE: | $1.35 Higher |
| DOW JONES: | 98 Points Lower |
| NASDAQ: | 59 Points Lower |
| CRUDE OIL: | $0.87 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 2.25 cents to close at $1.5325 with 15 loads traded. The barrel cheese price declined 4.00 cents, closing at $1.5150 with no loads traded. The dry whey price remained unchanged at 69.00 cents with no loads traded. Class III futures are 1-28 cents lower. The butter price declined 4.00 cents to close at $1.60 with 12 loads traded. Grade A nonfat dry milk price declined 1.50 cents to close at $2.2550 with one load traded. Class IV futures are 6-63 cents lower. Butter futures are 0.25 - 2.95 cents lower. Dry whey futures are 0.50 cent lower to 0.20 cent higher. Cheese prices are 0.40 - 2.10 cents lower. This does not bode well for the long-term outlook for milk prices.
