OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $0.10 Lower |
| LIVE CATTLE: | $4.10 Higher |
| DOW JONES: | 172 Points Lower |
| NASDAQ: | 6 Points Higher |
| CRUDE OIL: | $0.65 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.75 cent, closing at $1.6925 with nine loads traded. The fact that there was a significant volume of loads traded indicates to traders that it may be difficult for the price to increase significantly as sellers continue to offer cheese to the market. The barrel cheese price increased 1.75 cents, closing at $1.7275 with one load traded. The dry whey price slipped 0.25 cent, closing at 60.50 cents with no loads traded. Class III futures are 3 to 21 cents lower. The butter price slipped 0.25 cent, closing at $2.6175 with no loads traded. Grade A nonfat dry milk increased 0.50 cent to close at $1.2675 with one load traded. Class IV futures have not yet been traded. Butter futures are 0.02 to 1.52 cents lower. Dry whey futures are 1.07 to 1.90 cents lower.
