OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $15.00 Higher |
| LIVE CATTLE: | $0.12 Higher |
| DOW JONES: | 103 Points Lower |
| NASDAQ: | 32 Points Lower |
| CRUDE OIL: | $0.64 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.8725 and $1.57, respectively. There were two unfilled bids for barrels a penny lower and no interest in moving them higher. There were no buyers for blocks and no offers for either blocks or barrels. It is difficult to tell whether the lack of sellers is due to the fact that cheese is being moved through regular channels in the country, reducing the need to come to the spot market, or whether sellers are just holding back waiting for higher prices to sell their product. Dry whey price slipped 0.50 cent, closing at 42.50 cents with one load traded. Butter price increased 1.25 cents, closing at $2.4075 with one load traded. Grade A nonfat dry milk price gained $0.75 cent, closing at $1.2425 with no load traded. Class III futures are 5 to 29 cents higher. Class IV futures are 4 to 31 cents higher. Butter futures are 1.57 to 3.22 cents higher. Dry whey futures are 1.00 to 1.67 cents higher.
