OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.40 Lower |
| LIVE CATTLE: | $0.70 Higher |
| DOW JONES: | 130 Points Lower |
| NASDAQ: | 204 Points Higher |
| CRUDE OIL: | $2.65 Lower |
MIDDAY MARKET UPDATE:
Low bids were placed at the beginning of spot cheese trading and remained there through the session. Sellers started higher and continued to offer lower until trades were made. Block price declined 5.75 cents, closing at $1.52 with six loads traded. Barrel cheese price declined 1.50 cents, closing at $1.50 with two loads traded. Dry whey price slipped 0.25 cent, closing at 27.50 cents with 15 loads traded. There were 12 unfilled bids with 10 uncovered offers remaining at the close. Class III futures are 11 cents higher to 33 cents lower with June showing the greatest loss. The gains are seen in December and later contracts. Butter price declined 2 cents, closing at $2.4175 with one load traded. Grade A nonfat dry milk price increased 1.25 cents, closing at $1.17 with seven loads traded. Class IV futures are steady to one cent lower. Butter futures are steady to 3.25 cents lower. Dry whey futures are 0.50 cent lower to 0.27 cent higher.
