OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $3.50 Lower |
| LIVE CATTLE: | $2.00 Higher |
| DOW JONES: | 85 Points Higher |
| NASDAQ: | 43 Points Lower |
| CRUDE OIL: | $0.40 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 3.75 cents eliminating yesterday's gain and then some. The price closed at $2.2375 with no loads traded. The barrel cheese price declined 2.00 cents closing at $2.59 with no loads traded. Barrels may have seen the top with buyers not interested in purchasing at the high level. The dry whey price remained unchanged at 58.75 cents with two loads traded. Class III futures are 6 cents lower to 7 cents higher, falling back significantly from earlier highs. The butter price increased by 0.25 cents closing at $2.9725 with five loads traded. Grade A nonfat dry milk increased by 0.25 closing at $1.38 with five loads traded. Class IV futures are steady to 1 cent higher. Butter futures are 0.42 cents lower to 2.40 cents higher. Dry whey futures are 0.50 cents lower to 0.07 cents higher. The USDA will release the August Milk Production report this afternoon.
