OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $0.30 Lower |
| LIVE CATTLE: | $1.92 Higher |
| DOW JONES: | 577 Points Higher |
| NASDAQ: | 555 Points Lower |
| CRUDE OIL: | $6.29 Higher |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at $1.6700 with 5 loads traded. The price was both higher and lower during the trading period, finally settling unchanged. The barrel cheese price increased 0.25 cent to close at $1.6300 with no loads traded. The dry whey price decreased 1.00 cent to close at 69 cents with 1 load traded. Class III futures are 41 cents lower to 5 cents higher, with the August through December contracts posting significant losses. The butter price decreased 3.00 cents to close at $1.5100 with 16 loads traded. The price initially decreased to $1.50 before bouncing from that level. This moved butter to the bottom end of the trading range. Grade A nonfat dry milk decreased 1.00 cent to close at $1.4000. Class IV futures are 2 to 9 cents lower. Butter futures are steady to 2.50 cents lower. Dry whey futures are steady to 0.25 cent higher. Cheese futures are steady to 3.30 cents lower. Nonfat dry milk futures are 1.85 cents lower to 0.17 cent higher.
