OUTSIDE MARKETS SUMMARY:
| CORN: | 14 Lower |
| SOYBEANS: | 46 Lower |
| SOYBEAN MEAL: | $12.70 Lower |
| LIVE CATTLE: | $0.30 Lower |
| DOW JONES: | 177 Points Higher |
| NASDAQ: | 69 Points Higher |
| CRUDE OIL: | $2.61 Lower |
MIDDAY MARKET UPDATE:
Block cheese price gained 4.50 cents, closing at $1.89 with three loads traded. Barrel cheese price increased 6 cents to close at $1.9475 with five loads traded. Blocks have gained 12.50 cents from the lows and barrels have now increased 20 cents since the lows established on Aug. 4. Futures are not reflecting those gains as traders think upside will be limited. Butter price increased 5 cents, closing at $2.9850 with three loads traded. Grade A nonfat dry milk price remained unchanged at $1.5175 with one load traded. Dry whey price remained unchanged at 44.50 cents with no loads traded. Class III futures are regaining strength as I have been writing this commentary with contracts now unchanged to 53 cents higher. Class IV futures are 3 cents lower with only the October contract traded. Butter futures are 0.15 to 3.75 cents higher. Dry whey futures are unchanged to 0.17 cent higher.
