OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $4.10 Lower |
| LIVE CATTLE: | $0.37 Lower |
| DOW JONES: | 264 Points Lower |
| NASDAQ: | 64 Points Lower |
| CRUDE OIL: | $1.35 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained steady at $1.81 after initially trading 0.25 cent lower. There were nine loads traded. The barrel cheese price declined 2 cents closing at $1.94 with three loads traded. There were two unfiled bids for blocks and one uncovered offer for barrels. The dry whey price increased a penny closing at 40.50 cents with one load traded. Class III futures are 5 cents lower to 10 cents higher. Butter price regained 5.50 cents of its recent losses closing at $3.03 with one load traded. The buyer kept moving the bid higher until a load was purchased. There were two uncovered offers remaining at the close with no unfilled bids. Butter price may settle into a sideways pattern for a time. Grade A nonfat dry milk price slipped 0.25 cent closing at $1.1625 with one load traded. Class IV futures have only traded in the July contract with the price up a penny. Butter futures are 0.72 to 4.32 cents higher. Dry whey futures are 0.22 to 0.62 cent higher.
