OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $2.30 Lower |
| LIVE CATTLE: | $0.10 Higher |
| DOW JONES: | 161 Points Lower |
| NASDAQ: | 73 Points Lower |
| CRUDE OIL: | $0.10 Lower |
MIDDAY MARKET UPDATE:
Block cheese price remained steady at $1.88 with no loads traded. A seller showed up with no buyer interest. Barrel cheese price increased a penny to $1.5475 with 11 loads traded. Price initially declined 0.75 cents before buyers became more aggressive, bringing price back up to close higher. Dry whey price increased 0.50 cent, closing at 44 cents with no loads traded. The rebound of barrel price and stronger dry whey had little impact on futures. Class III futures are mixed, ranging from 10 cents lower to 2 cents higher. Butter price remained steady at $2.42 with no buyers or sellers showing up to do any business. Each was waiting for the other to make a move before becoming more involved. Grade A nonfat dry milk price declined 0.75 cent, closing at $1.22 with four loads traded. Class IV futures are unchanged to 19 cents lower with trading only in August, December, and January contracts. Butter futures are 0.62 to 1.47 cents lower. Dry whey futures are 0.37 cent lower to 0.97 cent higher.
