OUTSIDE MARKETS SUMMARY:
| CORN: | 16 Lower |
| SOYBEANS: | 49 Lower |
| SOYBEAN MEAL: | $12.30 Lower |
| LIVE CATTLE: | $0.37 Higher |
| DOW JONES: | 7 Points Higher |
| NASDAQ: | Unchanged |
| CRUDE OIL: | $4.51 Lower |
MIDDAY MARKET UPDATE:
It certainly was disappointing to see cash price fall back again. Fortunately, cheese prices did not remain on their lows. Block cheese price declined 3.25 cents, closing at $1.8475 with two loads traded. selling pressure initially took blocks 5.25 cents lower before price began increasing on bids trimming the loss. Barrel cheese price slipped 0.75 cent, closing at $1.88 with five loads traded. Price initially decreased 2 cents before buyers became more aggressive, moving price off the lows into the close. Butter price slipped 0.25 cent, closing at $2.8975 with no loads changing hands. This is a bit usual as business trading had been brisk over the past weeks. Grade A nonfat dry milk price remained unchanged at $1.64 with no loads traded. Dry whey price remained unchanged at 44.50 with no loads traded. Class III futures are 11 cents lower to 24 cents higher. Class IV futures are unchanged to 8 cents higher. Butter futures are 1.40 to 4.22 cents higher. Dry whey futures are steady to 0.75 cent higher.
