OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Lower |
| SOYBEANS: | 15 Lower |
| SOYBEAN MEAL: | $5.60 Lower |
| LIVE CATTLE: | $0.47 Higher |
| DOW JONES: | 282 Points Higher |
| NASDAQ: | 155 Points Lower |
| CRUDE OIL: | $1.49 Lower |
MIDDAY MARKET UPDATE:
Block cheese declined by 0.75 cent, closing at $1.8525 with 13 loads traded. The price initially declined to $1.8450 before buying brought off the low. Barrel cheese price declined a penny to close at $1.93 with seven loads traded. Price initially declined to $1.9250 before buying bounced it off the lows. There were three unfilled bids for blocks and one uncovered offer remaining with four unfilled bids for barrels with one uncovered offer at the close. The dry whey price remained unchanged at 48 cents with no loads traded. Class III futures are steady to 33 cents higher. The butter price declined 2.75 cents, closing at $3.08 with three loads traded. Grade A nonfat dry milk price increased 1.75 cents, closing at $1.2075 with one load traded. This offset some of the pressure on Class IV futures from the lower butter price. Class IV futures have only traded in the July contract with a price 9 cents higher. Butter futures are 0.50 cent lower to 0.47 cent higher. Dry whey futures are 0.25 cent lower to 0.35 cent higher.
