OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Lower |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $2.90 Higher |
| LIVE CATTLE: | $3.22 Lower |
| DOW JONES: | 104 Points Lower |
| NASDAQ: | 302 Points Lower |
| CRUDE OIL: | $0.62 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.50 cent to close at $1.6000 with no loads traded. The barrel cheese price increased 0.25 cent to close at $1.6025 with no loads traded. Prices were moved higher on bids, with only one offer posted for blocks with no interest in lowering the offer to accomplish business. The dry whey price decreased 0.50 cent to close at 69.50 cents with no loads traded. Class III futures were higher before spot trading and maintained the strength after trading concluded. Futures are steady to 58 cents higher, with August showing the greatest strength. The butter price increased 0.25 cent to close at $1.5875 with 16 loads traded. The price initially increased to $1.6000 before selling pressure caused the price to slide back. Grade A nonfat dry milk decreased 2.75 cents to close at $1.4725 with 13 loads traded. The price moved below the previous low of last week to move to the lowest level since February 2nd. Class IV futures are 14-29 cents lower. Butter futures are 1.00 cent lower to 0.82 cent higher. Dry whey futures are 0.35 -- 1.25 cents higher. Cheese futures are steady to 5.10 cents higher. Nonfat dry milk futures are 2.50 cents lower to 0.82 cent higher
