OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 28 Higher |
| SOYBEAN MEAL: | $4.20 Higher |
| LIVE CATTLE: | Unchanged |
| DOW JONES: | 179 Points Higher |
| NASDAQ: | 1 Point Lower |
| CRUDE OIL: | $0.80 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 5.25 cents, closing at $1.4450 with two loads traded. Barrel cheese price increased 2 cents, closing at $1.40 with seven loads traded. Barrels did move up to $1.4225 before slipping back to the closing price. That took Class III futures off their highs for a brief period, but strength did return as there is some short-covering taking place. Dry whey price remained unchanged at 22.75 cents with 13 loads traded. Class III futures are 1-43 cents higher with August showing the greatest strength. Butter price increased 1.25 cents, closing at $2.4925 with four loads traded. Butter may be establishing a higher trend. Grade A nonfat dry milk price decreased a penny to $1.0775 with two loads traded. This offset the gain of butter. Class IV futures are 5-10 cents higher. Butter futures are steady to 1.25 cents higher. Dry whey futures are 0.50 to 1.75 cents higher.
