OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 37 Higher |
| SOYBEAN MEAL: | $12.30 Higher |
| LIVE CATTLE: | $0.05 Lower |
| DOW JONES: | 551 Points Lower |
| NASDAQ: | 283 Points Lower |
| CRUDE OIL: | $1.28 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.82 and $1.8950, respectively. There was no interest from either buyers or sellers in blocks. There was an unfilled bid and two uncovered offers in barrels with neither wanting to aggressively do any business. Dry whey showed the same with price unchanged at 45 cents and no trading activity. Butter price jumped 8 cents, closing at $3.02 with two loads traded. There was an unfilled bid and uncovered offer remaining at the close. Grade A nonfat dry milk increased 1.25 cents, closing at $1.5325 with three loads traded. The strength of butter and nonfat dry milk price pushed Class IV futures substantially higher with gains of 18 to 40 cents. Class III futures are mixed, ranging from 23 cents lower to 30 cents higher. Butter futures are 0.50 to 3.75 cents higher. Dry whey futures are unchanged to 0.50 cent lower. USDA will release the July Milk production and July Cold Storage reports Monday afternoon.
