OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 8 Higher |
| SOYBEAN MEAL: | $2.80 Lower |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 109 Points Lower |
| NASDAQ: | 367 Points Lower |
| CRUDE OIL: | $5.25 Higher |
MIDDAY MARKET UPDATE:
The block cheese price Increased 5.25 cents to close at $1.60 with 9 loads traded. The barrel cheese price remained steady at $1.56 with one load traded. The dry whey price decreased a penny to close at 68.00 cents with no loads traded. Class III futures are 2-47 cents higher. The butter price decreased a penny to close at $1.6400 with 17 loads traded. The price initially gained 0.75 cent before sellers became more aggressive. Grade A nonfat dry milk slipped 0.25 cent to close at $1.5525 with 5 loads traded. The price initially increased 0.50 cent, but could not hold the gain. Class IV futures have only traded in the August contract at 18 cents higher, and that was before spot trading. The current offer is lower than that price. Butter futures are steady to 2.30 cents lower. Dry whey futures are 0.50 -- 0.62 cent higher. Cheese futures are 0.20 -- 3.60 cents higher. Nonfat dry milk futures are 1.12 cents lower to 1.00 cents higher.
