OUTSIDE MARKETS SUMMARY:
| CORN: | 13 Higher |
| SOYBEANS: | 17 Higher |
| SOYBEAN MEAL: | $4.80 Higher |
| LIVE CATTLE: | $0.52 Lower |
| DOW JONES: | 8 Points Higher |
| NASDAQ: | 215 Points Higher |
| CRUDE OIL: | $2.97 Higher |
MIDDAY MARKET UPDATE:
Block cheese price was under pressure shortly after spot trading began. Price initially increased 0.50 cent before sellers stepped into the market more aggressively, pushing price down 3.25 cents, closing at $2.2625 with four loads traded. Barrel closed 1.50 cents higher at $2.2675 with five loads traded. Barrel price was as much as 2 cents higher at one point but could not hold the gain into the close of spot trading. Dry whey declined 2 cents ending at 59 cents with two loads traded. This put pressure on Class III futures with contracts 12 to 52 cents lower through October with November and December are 15 and 32 cents higher, respectively, on very limited activity. Butter price increased a penny to $2.72 with 10 loads traded. Grade A nonfat dry milk price remained unchanged at the close at $1.85 with five loads traded. Class IV futures are unchanged to 15 cents higher. Butter futures are 0.27 to $2.72 cents higher. Dry whey futures are 0.02 to 2.92 cents lower.
