OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $0.20 Lower |
| LIVE CATTLE: | $1.87 Lower |
| DOW JONES: | 81 Points Lower |
| NASDAQ: | 70 Points Lower |
| CRUDE OIL: | $0.35 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at $2.10 with two loads traded. The barrel cheese price increased a penny, closing at $1.2650 with two loads traded. Yesterday's offers were reduced as sellers wanted to take care of business. The dry whey price increased by 0.75 cent, closing at 55.75 cents with no loads traded. Class III futures are 3 cents lower to 7 cents higher. The butter price declined 1.50 cents, closing at $3.17 with 10 loads traded. Nonfat dry milk increased 1.75 cents, closing at $1.2825 with three loads traded. Class IV futures are mixed from 38 cents lower to 13 cents higher. Traders were somewhat disappointed over the inability of spot prices to move higher in all categories. Butter futures are 0.50 cent lower to 0.70 cent higher. Dry whey futures are 0.50 cent lower to 0.52 cent higher. The Global Dairy Trade auction trade-weighted average increased by 5.5% from the previous event.
