OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 13 Lower |
| SOYBEAN MEAL: | $5.30 Lower |
| LIVE CATTLE: | $1.42 Lower |
| DOW JONES: | 100 Points Lower |
| NASDAQ: | 43 Points Higher |
| CRUDE OIL: | $1.43 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at $2.10 with one load traded. The barrel cheese price increased by 0.50 cent closing at $2.2550 with no loads traded. The dry whey price declined a penny closing at 55 cents with no loads traded. Class III futures were lower heading into spot trading and came under further pressure after spot trading. The weakness of dry whey set the stage for more selling pressure as the lower price offset the gain of barrels. Class III futures exceeded the level of the underlying cash prices on Thursday prompting some profit-taking ahead of the weekend. Trading volume is high in the September contract has over 1,200 contracts traded. Futures are unchanged to 40 cents lower. The butter price increased by 3.50 cents closing at $3.18 with 24 loads traded. The price is the highest it has been since November 1. Nonfat dry milk gained a penny closing at $1.2550 with five loads traded. Class IV futures are 1 cent lower to 39 cents higher with strong trading volume in the 2025 contracts. Butter futures are 1.00 cent lower to 6.50 cent higher. Dry whey futures are 1.25 cents lower to 0.10 cent higher.
