OUTSIDE MARKETS SUMMARY:
| CORN: | 15 Higher |
| SOYBEANS: | 52 Higher |
| SOYBEAN MEAL: | $19.70 Higher |
| LIVE CATTLE: | $0.60 Lower |
| DOW JONES: | 95 Points Lower |
| NASDAQ: | 192 Points Lower |
| CRUDE OIL: | $0.92 Lower |
MIDDAY MARKET UPDATE:
Block cheese price steadily increased during spot trading, ending 4.25 cents higher at $1.9975 with five loads traded. Barrel cheese price increased 5.25 cents, closing at $1.99 with three loads traded. This marks the second day cheese prices have increased. Traders remain cautious and are not buying into the market as would have been expected. Traders need more solid proof that support might have been established and a change in trend is taking place. Dry whey price increased 1.75 cents, closing at 46.50 cents with one load traded. Class III futures are 5 cents lower to 29 cents higher with front-month July the only contract showing a loss with the greatest gain in December. Butter price increased 2.75 cents, closing at $2.9575 with 12 loads traded. Grade A nonfat dry milk price gained a penny, closing at $1.68 with three loads traded. Class IV futures are 1 to 19 cents higher. Butter futures are 1.00 cent lower to 4.75 cents higher.
