OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Higher |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $3.60 Higher |
| LIVE CATTLE: | $1.25 Higher |
| DOW JONES: | 473 Points Higher |
| NASDAQ: | 161 Points Higher |
| CRUDE OIL: | $1.93 Higher |
MIDDAY MARKET UPDATE:
Spot cheese prices increased as buyers wanted to take advantage of the lower prices but found only limited selling interest. Block cheese price increased 2.75 cents closing at $2.0275 with one load traded. Barrel cheese price increased 4.50 cents closing at $1.70 with two loads traded. The only offer remaining at the close was for a load of barrels. There were two unfilled bids remaining at the close of spot trading. Dry whey price declined 0.75 cents closing at 36.50 with four loads traded. Class III futures are mostly under pressure with prices ranging from 24 cents lower to 4 cents higher. Butter price plummeted anther 12.50 cents closing at $2.4750 with just one load traded and two offers remaining at the close. Grade A nonfat dry milk price declined 2.50 cents closing at $1.3350 with two loads traded. Class IV futures have only had trading in the August contract and that was 3 cents higher and took place before spot trading. Butter futures are 0.17–3.50 cents lower. Dry whey futures are 0.10–0.80 cents lower.
