OUTSIDE MARKETS SUMMARY:
| CORN: | 41 Lower |
| SOYBEANS: | 49 Lower |
| SOYBEAN MEAL: | $2.50 Lower |
| LIVE CATTLE: | $0.82 Higher |
| DOW JONES: | 88 Points Higher |
| NASDAQ: | 3 Points Lower |
| CRUDE OIL: | $7.89 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $2.11 with three loads traded. Barrel cheese price slipped 0.25 cent, closing at $2.17 with three loads traded. This did not support the substantial decline we are seeing in Class III futures. More impact was seen from dry whey price declining three cents, closing at 47 cents with two loads traded. Class III futures are six to 38 cents lower with August seeing the most pressure. Butter price declined 3,50 cents, closing at $2.9650 with 13 loads traded. Grade A nonfat dry milk price declined 0.50 cent, ending at $1.7250 with three loads traded. Class IV futures are 24 cents lower to 10 cents higher. Butter futures are 0.85 to 2.75 cents lower. Dry whey futures are 0.50 to 0.75 cent lower. USDA reduced their estimate for next year by one billion pounds in the World Agricultural Supply and Demand report today.
