OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 8 Lower |
| SOYBEAN MEAL: | $3.90 Lower |
| LIVE CATTLE: | $0.67 Higher |
| DOW JONES: | 47 Points Higher |
| NASDAQ: | 40 Points Lower |
| CRUDE OIL: | $0.69 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 2.50 cents, closing spot trading at $1.8550. There was a low bid for a load of blocks posted at $1.75 at the close. Barrel cheese fell 9 cents, closing at $1.63 with eight loads traded. This is the lowest price since March 3. The block/barrel spread has widened rapidly over the past two weeks. Dry whey price remained unchanged at 36.50 cents with 16 loads traded. There were five unfilled bids posted lower than the market at the close. Sellers sold everything they had to offer Monday. Class III futures are 4 to 21 cents lower with trading only through the October contract. Butter price increased 3.25 cents closing at $2.35 with 2 loads traded. Grade A nonfat dry milk price remained unchanged at $1.1250 with no loads traded. Class IV futures have only traded in the May contract, posting a loss of 6 cents. Butter futures are 1.00 cents lower to 0.97 cent higher. Dry whey futures are 0.25 to 0.75 cent lower.
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