OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 12 Lower |
| SOYBEAN MEAL: | $0.20 Lower |
| LIVE CATTLE: | $1.82 Lower |
| DOW JONES: | 59 Points Higher |
| NASDAQ: | 88 Points Higher |
| CRUDE OIL: | $0.39 Higher |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.9925 and $1.86 respectively with no loads traded. There was one unfilled bid remaining at the close for a load of barrels. Dry whey price remained unchanged at 28.50 cents with 4 loads traded. The pattern again was that Class III milk futures were higher before spot trading and steady cash prices caused traders to liquidate positions putting pressure on futures. Class III futures are 2 to 20 cents lower with September showing the greatest loss. Butter price remained unchanged at $2.62 with no load traded. No buyers or sellers showed up to the market to do business. Grade A nonfat dry milk price declined a penny closing at $1.0925 with no loads traded. Class IV futures are unchanged to 10 cents lower. Butter futures are 2.72 cents lower to 0.02 cents higher. Dry whey futures have not yet traded today. USDA will announce the August Federal Order prices today.
