OUTSIDE MARKETS SUMMARY:
| CORN: | 19 Lower |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $1.30 Higher |
| LIVE CATTLE: | $0.37 Higher |
| DOW JONES: | 134 Points Lower |
| NASDAQ: | 99 Points Lower |
| CRUDE OIL: | $1.24 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $2.10 and $1.8975, respectively, with no loads traded and no buyers or sellers showing up to do any business. Class III futures were higher prior to spot trading with the anticipation of follow-through from Thursday. When that did not take place, futures fell back from the highs. Contracts are 3 cents lower to 20 cents higher. The higher price is seen in the September contract, which has not traded since spot cheese trading. Dry whey price remained unchanged at 45 cents with no loads traded. Butter price increased 2 cents, closing at $2.90 with one load traded. Grade A nonfat dry milk price increased 1.25 cents, closing at $1.36. Class IV futures have not traded so far with wide bid and offers of about 70 cents in some contracts. This does not lend itself to trading activity. Butter futures are 1.75 cents lower to 1.00 cents higher. Dry whey futures are steady.
