OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $3.60 Higher |
| LIVE CATTLE: | $0.70 Lower |
| DOW JONES: | 220 Points Lower |
| NASDAQ: | 2 Points Lower |
| CRUDE OIL: | Unchanged |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.25 cent, closing at $1.6425 with 14 loads traded. The barrel cheese price gained a penny, closing at $1.66 with one load traded. The large amount of blocks changing hands is keeping pressure on nearby Class III futures. The dry whey price decreased 1.50 cents, closing at 55.75 cents with five loads traded. The decline of dry whey more than offset the increase in cheese prices. Class III futures are 14 cents lower to 14 cents higher. The butter price decreased by 1.75 cents, closing at $2.5125 with no loads traded. Grade A nonfat dry milk remained unchanged at $1.29 with no loads traded. Class IV futures have not yet been traded. Butter futures are 1.00 to 4.00 cents lower. Dry whey futures are 0.20 cent lower to 0.47 cent higher.
