OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $4.40 Lower |
| LIVE CATTLE: | $1.32 Higher |
| DOW JONES: | 6 Points Higher |
| NASDAQ: | 112 Points Higher |
| CRUDE OIL: | $1.29 Lower |
MIDDAY MARKET UPDATE:
Block cheese price declined 3.25 cents, ending at $2.1850 with three loads traded. Barrel cheese price declined 4.50 cents, closing at $2.1750 with 10 loads traded. Dry whey price remained steady at 51.50 cents with no loads traded. This weakness has Class III futures posting double-digit losses in most contracts. Futures range from unchanged to 27 cents lower. Butter price gained 5 cents, closing at $2.98 with 15 loads traded. Grade A nonfat dry milk price declined 3.50 cents, closing at $1.82 with six loads traded. Nonfat weakness is offsetting the gain of butter with Class IV futures 21 to 41 cents lower. That, and the fact that Class IV futures have been holding at premium, are extending the pressure on futures. Butter futures are 1.40 to 2.52 cents lower. Dry whey futures are 1.00 cent lower to 1.00 cent higher.
