OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 43 Higher |
| SOYBEAN MEAL: | $14.20 Higher |
| LIVE CATTLE: | $0.17 Lower |
| DOW JONES: | 89 Points Higher |
| NASDAQ: | 292 Points Higher |
| CRUDE OIL: | $2.55 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.50 cent, closing at $1.8450 with two loads traded. Barrel cheese price declined 4 cents, closing at $1.8875 with four loads traded. This is certainly not what was wanted to be seen to end the week. Traders anticipated a decline as futures were significantly lower prior to spot trading and are under further pressure after spot trading. Dry whey price remained unchanged at 44 .50 cents with no loads traded. Class III futures are 51 cents lower to one cent higher. The only gain is seen in August as it is now basically priced by the trade. Butter price declined 4 cents, ending at $2.9350 with nine loads traded. Grade A nonfat dry milk price remained unchanged at $1.5175 with seven loads traded. Class IV futures have only traded in the October contract with price down 22 cents. Butter futures are 1.02 cents lower to 0.65 cent higher. Dry whey prices are steady to 0.50 cent higher. USDA increased estimated milk production for this year and next year.
