OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 9 Lower |
| SOYBEAN MEAL: | $6.90 Lower |
| LIVE CATTLE: | $0.10 Higher |
| DOW JONES: | 35 Points Lower |
| NASDAQ: | 22 Points Lower |
| CRUDE OIL: | $1.99 Higher |
MIDDAY MARKET UPDATE:
The block cheese price jumped 6.50 cents closing at $1.9650 with one load traded. The barrel price increased 4 cents closing at $1.95 with one load traded. There were two unfilled bids remaining for blocks at the close of trading. This may keep cheese sellers on the sidelines waiting to see how much more aggressive the buyers will be. This does not necessarily mean the aggressive seasonal buying has kicked in. Cheese prices may test the top of the trading range. Class III futures are 7 to 52 cents higher. The butter price remained unchanged at $3.1025 with no loads traded. Grade A nonfat dry milk slipped 0.25 cent closing at $1.23 with four loads traded. Class IV futures are 5-23 cents higher. Butter futures are 0.25 cent lower to 1.75 cents higher. Dry whey futures are unchanged to 0.50 cent lower.
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