OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $2.10 Lower |
| LIVE CATTLE: | $0.22 Higher |
| DOW JONES: | 144 Points Lower |
| NASDAQ: | 72 Points Lower |
| CRUDE OIL: | $0.94 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 5.50 cents, closing at $1.72 with two loads traded. The barrel cheese price increased 4.50 cents, closing at $1.69 with no loads traded. There were two unfilled bids and one uncovered offer for blocks, and one unfilled bid for barrels remaining at the close. The dry whey price remained unchanged at 64.75 with no loads traded. Class III futures are 2 cents lower to 31 cents higher. The butter prices decreased 5.00 cents, closing at $1.71 with 21 loads traded. There were two unfilled bids and seven uncovered offers remaining at the close. Grade A nonfat dry milk slipped 0.25 cent, closing at $1.1575 with six loads traded. Trading activity has only taken place in the December contract at 28 cents lower. Butter futures are 3.50 to 9.90 cents lower. Dry whey futures are 0.02 cent lower to 1.00 cents higher. Cheese futures are 0.90 cent lower to 3.30 cents higher. USDA will release the July Agricultural Prices report this afternoon.
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