OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 6 Higher |
| SOYBEAN MEAL: | $1.80 Higher |
| LIVE CATTLE: | $2.00 Lower |
| DOW JONES: | 101 Points Lower |
| NASDAQ: | 184 Points Higher |
| CRUDE OIL: | $1.21 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.00 cent to close at $1.3250 with one load traded. The barrel price remained unchanged at $1.4525 with no loads traded. The dry whey price increased 1.00 cent to close at 83.50 cents with no loads traded. Class III futures are 5-18 cents higher. The butter price decreased 2.50 cents to close at $1.3150 with 24 loads traded. There were 16 unfilled bids with 125 uncovered offers remaining. That is the most uncovered offers ever remaining at the close of spot trading. Grade A nonfat dry milk remained steady at $2.2200 with one load traded. Class IV futures have not yet been traded. Butter futures are steady to 2.40 cents lower. Dry whey futures are 0.50-0.52 cents higher. Cheese futures are 0.30-1.30 cents higher. Nonfat dry milk futures are 0.97 cent lower to 1.00 cent higher. USDA will release the August Dairy Products report this afternoon.
