OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $0.20 Lower |
| LIVE CATTLE: | $2.17 Higher |
| DOW JONES: | 189 Points Lower |
| NASDAQ: | 25 Points Lower |
| CRUDE OIL: | $3.48 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined 4.00 cents to close at $1.5550 with 13 loads traded. The barrel cheese price declined 5.25 cents to close at $1.5775 with no loads traded. The dry whey price declined 2.50 cents to close at 65.50 cents with 4 loads traded. Class III futures are 27 cents lower to 1 cent higher with July showing the only gain. The butter price fell 9.00 cents to close at $1.3800 with 8 loads traded. There were 8 unfilled bids and 84 uncovered offers remaining at the close of spot trading. Surprisingly, the sellers want to move supplies at continually lower prices. The only bright spot was Grade A nonfat dry milk with a gain of 2.00 cents, with 2 loads traded. Class IV futures are 4-20 cents lower. Butter futures are 0.50 -- 7.50 cents lower. Dry whey futures are 0.05 -- 0.75 cent lower. Cheese futures are steady to 2.40 cents lower. Nonfat dry milk futures are 1.55 -- 2.60 cents higher.
