OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $8.20 Higher |
| LIVE CATTLE: | $1.00 Higher |
| DOW JONES: | 129 Points Lower |
| NASDAQ: | 29 Points Higher |
| CRUDE OIL: | $0.15 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 4.50 cents closing at $1.9825 with four loads traded. The price initially moved to $1.99 before buyers backed off and selling pressure took the price off the highs. There were four unfilled bids and one uncovered offer remaining at the close. The barrel cheese price gained 1.25 cents closing at $2.2025 with three loads traded. There were two unfilled bids and one uncovered offer remaining at the close. The amount of bids and offers remaining was unusually large compared to what we had seen over the past few days. The dry whey price remained unchanged at 48 cents with no loads traded. Class III futures are 7-33 cents higher with July and August showing the greatest gains. The butter price declined 1.50 cents closing at $3.09 with one load traded. The Grade A nonfat dry milk price gained 0.25 cent closing at $1.1925 with one load traded. Class IV futures are 54 cents higher to 12 cents lower. The trade up 54 cents took place early today with a volume of one contract. It is not an accurate indication of the market as bids and offers are lower in that contract. Butter futures are 0.50 cent higher to 2.02 cents lower. Dry whey futures have not yet traded.
