OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $3.30 Higher |
| LIVE CATTLE: | $1.07 Lower |
| DOW JONES: | 52 Points Lower |
| NASDAQ: | 39 Points Higher |
| CRUDE OIL: | $0.02 Lower |
MIDDAY MARKET UPDATE:
Cheese price finally found some support at least for today. Blocks increased 2 cents, closing at $1.61 with two loads traded. The barrel cheese price increased 3 cents, closing at $1.47 with three loads traded. These gains did little to trigger buying interest in Class III futures with contracts mixed ranging from 14 cents lower to 3 cents higher. Traders are not convinced prices will see continued strength.
Dry whey price remained unchanged at 39.75 cents with no loads traded. Butter price remained unchanged at $2.50 with no loads traded. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.19 with no loads traded. Class IV futures are 3 to 11 cents lower. Butter futures are 0.50 cent lower to 3.97 cents higher. Dry whey futures are 2.35 cents lower to 0.85 cent higher.
