OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $5.20 Higher |
| LIVE CATTLE: | $0.10 Higher |
| DOW JONES: | 46 Points Higher |
| NASDAQ: | 51 Points Higher |
| CRUDE OIL: | $2.14 Higher |
MIDDAY MARKET UPDATE:
Class III futures were lower prior to spot trading but then showed further weakness after barrel cheese price declined. The barrel price declined 4.50 cents, closing at $1.8250 with no loads traded. There were two uncovered offers and one unfilled bid remaining at the close. This triggered further selling pressure on the market. Block cheese price remained steady at $1.96, unchanged from Wednesday with no loads traded. This is the third consecutive day of a steady block price. Class III futures are 39 cents lower to 6 cents higher. Butter price declined 1.50 cent, closing at $2.6150 with no loads traded. Grade A nonfat dry milk price slipped 0.25 cent, closing at $1.12 with two loads traded. Class IV futures have not yet traded. Butter futures are 0.45 to 3.25 cents lower. Dry whey futures are unchanged.
