OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.70 Higher |
| LIVE CATTLE: | $1.45 Higher |
| DOW JONES: | 33 Points Higher |
| NASDAQ: | 72 Points Higher |
| CRUDE OIL: | $0.90 Lower |
MIDDAY MARKET UPDATE:
The block cheese slipped 0.25 cent, closing at $1.9475 with five loads traded. The price initially declined a penny until buyers took advantage of the price dip to buy what was offered to the market. The barrel cheese price increased 0.50 cent, closing at $1.87 with six loads traded. The dry whey price increased 0.50 cent, closing at 57.50 cents with one load traded. Even though blocks came back from the low, dry whey and barrels increased. Class III futures are under significant pressure, ranging from unchanged to 41 cents lower, with July showing the greatest loss. The butter price took it on the chin, falling 7 cents, closing at $2.4550 with four loads traded. Grade A nonfat dry milk remained unchanged at $1.2850 with four loads traded. Class IV futures have not yet been traded. Butter futures are 4.52 to 7.50 cents lower. Dry whey futures are steady to 1.95 cents higher.
