OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $0.30 Higher |
| LIVE CATTLE: | $0.35 Higher |
| DOW JONES: | 91 Points Lower |
| NASDAQ: | 320 Points Lower |
| CRUDE OIL: | $0.50 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 2.00 cents to close at $1.5775 with no loads traded. The barrel cheese price remained unchanged at $1.5650 with no loads traded. The dry whey price remained unchanged at 69.50 cents with no loads traded. Class III futures are 2 cents lower to 22 cents higher. The butter price declined 1.25 cents to close at $1.4600 with 29 loads traded. There were 8 unfilled bids and 31 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk gained 2.75 cents to close at $1.7800 with five loads traded. This is the highest price since June 12th. Class IV futures are 6 -- 27 cents higher as traders focus on the strength of nonfat dry milk rather than the weakness of butter. Butter futures 6.50 cents lower to 0.67 cent higher. Dry whey futures are steady to 1.00 cent higher. Cheese futures 0.90 cent lower to 1.50 cents higher. Nonfat dry milk futures are 1.00 cent lower to 2.47 cents higher.
