OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $3.70 Higher |
| LIVE CATTLE: | $0.85 Lower |
| DOW JONES: | 89 Points Higher |
| NASDAQ: | 148 Points Lower |
| CRUDE OIL: | $2.32 Higher |
MIDDAY MARKET UPDATE:
Block cheese price jumped 10.25 cents, closing at $2.14 with seven loads traded. The barrel cheese price jumped 15 cents, closing at $2.25 with one load traded. Buyers jumped in to take advantage of the lower prices last week but were unable to take much advantage of the drop due to the aggressive rebound. This sent the September, October, and November Class III futures limit up. The dry whey price remained unchanged at 56.50 cents with no loads traded. Class III futures are 1 cent lower to 75 cents higher. The only loss is in the nearby August contract It is mostly priced and will see limited movement until the Federal Order prices are announced next week. The butter price increased 4.50 cents, closing at $3.1750 with three loads traded. Grade A nonfat dry milk increased 1.50 cents, closing at $1.2975 with 14 loads traded. Class IV futures are 1 cent lower to 15 cents higher. Butter futures are 0.85 to 3.00 cents higher. Dry whey futures are unchanged to 0.55 cent higher.
