OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 9 Lower |
| SOYBEAN MEAL: | $5.50 Lower |
| LIVE CATTLE: | $0.77 Lower |
| DOW JONES: | 61 Points Higher |
| NASDAQ: | 29 Points Lower |
| CRUDE OIL: | $1.92 Higher |
MIDDAY MARKET UPDATE:
Block cheese price came under pressure as a seller wanted to move a load of cheese ahead of the weekend. Price declined 4.25 cents closing at $1.95 with one load traded. There were no unfilled bids or offers remaining. Barrel cheese price increased a penny closing at $1.87 with 2 loads traded.
There was an unfilled bid and 2 uncovered offers remaining at the close. Dry whey price remained unchanged at 30.50 cents with one load traded. Class III futures are mixed with contracts through January at 7-27 cents lower while later contracts are unchanged to 5 cents higher. Butter price increased 1.50 cents closing at $2.66 with 12 loads traded. Grade A nonfat dry milk price increased 0.25 cent closing at $1.0750 with 6 loads traded. Class IV futures have only traded the January contract, which is 5 cents higher. Butter futures are 2.22 -- 4 cents higher. Dry whey futures are unchanged. The average soybean meal price for July was $443.15 which puts income over feed at $3.52 for July and a new record low. Those with coverage at the $9.50 level will receive a payment of $5.98 per cwt under the Dairy Margin Coverage program.
