OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $2.20 Higher |
| LIVE CATTLE: | $0.35 Lower |
| DOW JONES: | 100 Points Lower |
| NASDAQ: | 98 Points Lower |
| CRUDE OIL: | $1.31 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 0.25 cent closing at $2.0175 with one load traded. Barrel cheese price declined 1.50 cents closing at $1.8350 with two loads traded. Dry whey price declined 0.50 cent closing at 25.75 cents with six loads traded. Class III futures are 36 cents lower to one cent higher. August shows the only gain as it will not move much through the remainder of the contract. October shows the greatest pressure. Traders are quick to jump on any weakness more so than any strength. Butter price increased 5.75 cents closing at $2.75 with 49 loads traded. Price initially moved to $2.78 before sellers became more aggressive to move supply. Grade A nonfat dry milk price declined a penny closing at $1.0850 with one load traded. Class IV futures are 17 cents lower to 7 cents higher. Butter futures are 1.02-7.50 cents higher. Dry whey futures are 0.17-0.50 cent lower.
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