OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $4.80 Lower |
| LIVE CATTLE: | $3.47 Lower |
| DOW JONES: | 40 Points Lower |
| NASDAQ: | 350 Points Higher |
| CRUDE OIL: | $0.34 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.25 cents to close at $1.4850 with 13 loads traded. The barrel cheese price increased 4.00 cents to close at $1.48 with one load traded. The dry whey price remained unchanged at 67.00 cents with no loads traded. Class III futures are 1 cent lower to 17 cents higher. The butter price increased 0.75 cent to close at $1.70 with 51 loads traded. It certainly was positive to see the price increase despite the volume of loads traded. However, there were 2 unfilled bids and 34 uncovered offers remaining at the close, suggesting limited upside price potential. Grade A nonfat dry milk decreased 4.50 cents to close at 2.00 with 8 loads traded. This is the lowest price since April 7. Class IV futures are 2-33 cents higher. Butter futures are 0.97 cent lower to 1.87 cents higher. Dry whey futures are 0.50 cent lower to 0.50 cent higher. Cheese futures are 0.50 cent lower to 1.20 cents higher.
