OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 10 Higher |
| SOYBEAN MEAL: | $3.40 Higher |
| LIVE CATTLE: | $1.65 Higher |
| DOW JONES: | 134 Points Higher |
| NASDAQ: | 132 Points Higher |
| CRUDE OIL: | $1.79 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 3.50 cents closing at $2.28 with four loads traded. The price initially declined to $2.27 before buyer interest reduced the loss. The barrel cheese price increased 5 cents closing at $2.4350 with two loads traded. The price divergence was surprising as price declines have been limited over the past few weeks. The dry whey price remained unchanged at 59 cents with one load traded. Class III futures are 25 cents lower to 2 cents higher. The only gain is seen in the September contract. It is mostly priced and adjusted to the weekly AMS prices. The butter price fell 9 cents closing at $3.0850 with 12 loads traded. This is the lowest price since July 23. Grade A nonfat dry milk slipped 0.25 cents closing at $1.3950 with 19 loads traded. Class IV futures have not traded but will trade lower when activity takes place. Butter futures are 2.00 to 6.50 cents lower. Dry whey futures are 0.32 cents lower to 0.12 cents higher.
