OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $1.30 Higher |
| LIVE CATTLE: | $0.92 Higher |
| DOW JONES: | 353 Points Higher |
| NASDAQ: | 17 Points Higher |
| CRUDE OIL: | $1.19 Higher |
MIDDAY MARKET UPDATE:
There is no bottom in the cheese market. The block cheese price declined 3.75 cents closing at $1.6450 with one load traded. The barrel cheese price declined 3 cents closing at $1.65 with one load traded. An offer for a load of barrels remained at the close of spot trading. The dry whey price gained 1.25 cents closing at 66 cents with two loads traded. Class III futures are 17 cents lower to 2 cents higher. The butter price declined by 0.75 cent closing at $2.54 with nine loads traded. The price initially dropped to $2.4875 before buyers became more aggressive, taking the price off the low. There were seven unfilled bids and three uncovered offers remaining at the close of spot trading. Nonfat dry milk declined 1.25 cents closing at $1.3675 with six loads traded. Class III futures are steady trading only in the October contract. Butter futures are 0.02 -- 2.52 cents lower. Dry whey futures are 0.42 -- 3.70 cents higher.
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