OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $4.50 Higher |
| LIVE CATTLE: | $3.72 Higher |
| DOW JONES: | 29 Points Higher |
| NASDAQ: | 42 Points Higher |
| CRUDE OIL: | $0.47 Higher |
MIDDAY MARKET UPDATE:
The block cheese price gained 0.75 cent, closing at $1.88 with three loads traded. The barrel cheese price declined a penny, closing at $1.90 with two loads traded. There were two unfilled bids and one uncovered offer remaining at the close of spot trading. The barrel cheese price declined a penny, closing at $1.90 with two loads traded. There was one unfilled bid and two uncovered offers remaining at the close. This moves the inverted block/barrel spread to 2 cents. The dry whey price remained steady at 48.50 cents with no loads traded. Class III futures were higher this morning and have gained strength as the day progresses. Contracts are 1 to 59 cents higher with October showing the greatest strength. The butter price jumped 5.75 cents, closing at $3.09 with two loads traded. Grade A nonfat dry milk slipped 0.25 cent, closing at $1.1850 with three loads traded. Class IV futures have only traded in the July contract at 7 cents higher. Butter futures are 4.75 to 6.50 cents higher. Dry whey futures are 0.10 to 0.30 cent lower.
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