OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $2.10 Higher |
| LIVE CATTLE: | $0.65 Higher |
| DOW JONES: | 16 Points Lower |
| NASDAQ: | 164 Points Higher |
| CRUDE OIL: | $1.21 Higher |
MIDDAY MARKET UPDATE:
The block cheese price fell back, ending its brief uptrend. The price declined 4.75 cents, closing at $1.6750 with four loads traded. The barrel cheese price slipped 0.50 cent, closing at $1.72 with three loads traded. Traders seemed to anticipate weakness on Tuesday and their anticipation was rewarded. Class III futures are steady to 33 cents lower, with August posting the greatest loss. The dry whey price increased a penny, closing at 60.50 cents with no loads traded. The butter price declined 2.25 cents, closing at $2.58 with 12 loads traded. Grade A nonfat dry milk increased 1.50 cents, closing at $1.27 with three loads traded. Class IV futures have not yet been traded. Butter futures are 0.75 to 2.77 cents lower. Dry whey futures are 0.75 to 3.17 cents higher.
