OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $7.20 Lower |
| LIVE CATTLE: | $0.02 Lower |
| DOW JONES: | 79 Points Higher |
| NASDAQ: | 121 Points Higher |
| CRUDE OIL: | $0.79 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $1.76 with no loads traded. Barrel cheese price declined 1.25 cents, closing at $1.8625 with two loads traded. The fact there were trades gave some hope for price support near this level. Dry whey increased 0.50 cent, ending at 46.50 cents with one load traded. Class III futures are holding well with only September and October showing losses of 6 cents and 2 cents, respectively. The rest of the contracts are 7 to 18 cents higher. Butter bounced back 3.50 cents to close at $3.0350 with 11 loads traded. The level of $3.00 might be the new support level. Grade A nonfat dry milk price gained 0.50 cent, closing at $1.5450 with two loads traded. Class IV futures are 20 to 43 cents higher. Butter futures are 1.82 cents lower to 2.97 cents higher. Dry whey futures are unchanged to 1.80 cents higher. USDA will release the July Livestock Slaughter report Thursday, showing dairy cattle slaughter for the month.
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