OUTSIDE MARKETS SUMMARY:
| CORN: | 16 Higher |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $6.40 Lower |
| LIVE CATTLE: | $2.02 Lower |
| DOW JONES: | 652 Points Lower |
| NASDAQ: | 11 Points Higher |
| CRUDE OIL: | $3.54 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 2.75 cents, closing at $2.0175 with no loads traded. Barrel cheese price gained 1.50 cents, closing at $1.95 with three loads traded. There was an unfilled bid for a load of blocks and two uncovered offers remaining in barrels at the end of spot trading. Butter price increased 2.25 cents closing at $2.6625 with two loads traded. Grade A nonfat dry milk price gained 1.50 cents, closing at $1.8750 with 10 loads traded. Dry whey price declined 3 cents, ending at 78 cents with four loads traded. Buyers wanted to increase ownership of cheese and butter following the bullish implications of the milk production report and were more aggressive. Class III futures are 6 to 75 cents higher. Class IV futures are 30 to 75 cents higher. Butter futures are 0.67 cent lower to 7.50 cents higher. Dry whey futures are 1.20 cents lower to 1.00 cents higher.
