OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 4 Lower |
| SOYBEAN MEAL: | $9.00 Lower |
| LIVE CATTLE: | $0.90 Lower |
| DOW JONES: | 33 Points Lower |
| NASDAQ: | 145 Points Lower |
| CRUDE OIL: | $0.90 Higher |
MIDDAY MARKET UPDATE:
Block cheese price initially increased 0.75 cent before sellers became more aggressive, pushing price down 3.25 cents and closing at $2.00 with seven loads traded. Dry whey price declined a penny closing at 44 cents with one load traded. This put traders in a quandary with stronger barrel price offsetting some of the weakness of blocks. Class III futures are mixed from 15 cents lower to 4 cents higher. Butter price increased 2.25 cents, closing at $3.13 with two loads traded. Grade A nonfat dry milk price remained unchanged at $1.56 with no loads traded. Class IV futures are 6 cents lower to 13 cents higher. Butter futures are 1.75 cents lower to 3.09 cents higher. Dry whey futures are 0.07 to 0.75 cent lower. USDA will release the August Cold Storage report Thursday, providing an indication of demand and the information to anticipate market potential later this year.
