OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $0.70 Higher |
| LIVE CATTLE: | $3.22 Lower |
| DOW JONES: | 439 Points Lower |
| NASDAQ: | 29 Points Lower |
| CRUDE OIL: | $1.99 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.50 cents to close at $1.5350 with ten loads traded. The barrel cheese price remained unchanged at $1.5475 with no loads traded. The dry whey price increased 0.75 cent to close at 69.50 cents with two loads traded. Class III futures are 6 cents lower to 17 cents higher. The butter price increased 6.75 cents to close at $1.5500 with 79 loads traded. Despite the large volume of butter traded, there were 69 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk decreased 3.50 cents to close at $1.5650 with eight loads traded. This took back yesterday's gain and then some. Class IV futures have not yet been traded. Butter futures are 3.75 -- 7.00 cents higher. Dry whey futures are unchanged to 0.25 cent lower. Cheese futures are 0.50 cent lower to 1.90 cents higher. Nonfat dry milk futures are 2.35 -- 3.55 cents lower. USDA will release the June Dairy Products report today. There will be no Dairy Revenue Protection prices released today due to the report.
