OUTSIDE MARKETS SUMMARY:
| CORN: | 15 Higher |
| SOYBEANS: | 39 Higher |
| SOYBEAN MEAL: | $13.10 Higher |
| LIVE CATTLE: | $0.37 Higher |
| DOW JONES: | 118 Points Lower |
| NASDAQ: | 77 Points Lower |
| CRUDE OIL: | $0.51 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $2.2750 with two loads traded. Barrel cheese price increased 5 cents, closing at $2.3050 with 10 loads traded. Dry whey price increased 1.75 cents, closing at 54.25 cents with three loads traded. This provided further support to Class III futures, but not as much as would have been expected. This is due to higher prices already factored in. Class III futures are 4 cents lower to 23 cents higher. July is the only contract showing a lower price. Butter price remained steady at $3.00 with no loads traded. There were uncovered offers for two loads remaining at the close 10 cents higher with buyers not interested. Grade A nonfat dry milk price declined 1.50 cents, closing at $1.87 with four loads traded. Class IV futures are 15 cents lower to 5 cents higher. Butter futures are 0.92 cent lower to 3.00 cents higher. Dry whey futures are steady to 0.22 cent higher.
