Friday Midday Dairy Market Summary - Milk Futures Under Further Pressure

OUTSIDE MARKETS SUMMARY:

CORN:	10 Lower
SOYBEANS:	14 Higher
SOYBEAN MEAL:	$2.80 Lower
LIVE CATTLE:	$1.55 Higher
DOW JONES:	222 Points Lower
NASDAQ:	251 Points Lower
CRUDE OIL:	$0.56 Lower

MIDDAY MARKET UPDATE:

Block cheese price remained unchanged at $1.91 with one load traded. Barrel cheese price declined 4 cents, closing at $1.92 with no loads traded. Price is down to the lowest level since March 2. Dry whey price remained steady at 45.50 cents. Class III futures are 2 to 28 cents lower. Butter price declined 1.75 cents, closing at $2.9075 with 10 loads traded. Grade A nonfat dry milk slipped 0.25 cent, ending at $1.6850 with one load traded. Class IV futures are 6 to 16 lower. Butter futures are 2.97 cents lower to 0.87 cent higher. Dry whey futures are 2.02 cents lower to 0.25 cent higher. USDA will release the June Cold Storage report and also the Bi-annual Cattle Inventory report Friday afternoon.