OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $2.60 Lower |
| LIVE CATTLE: | $0.10 Higher |
| DOW JONES: | 548 Points Lower |
| NASDAQ: | 249 Points Lower |
| CRUDE OIL: | $2.28 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 4.25 cents to close at $1.5325 with eight loads traded. There were 3 unfilled bids and 13 uncovered offers remaining at the close of spot trading. The barrel cheese price remained unchanged at $1.5650 with no loads traded. The dry whey price gained 1.00 cent to close at 70.25 cents with one load traded. Class III futures are 28 cents lower to 13 cents higher with the August contract showing the only gain as it adjusted to the weekly AMS prices. The butter price remained unchanged at $1.4300 with no loads traded. No buyers showed up in the market with 26 uncovered offers remaining at the close. Grade A nonfat dry milk gained 1.00 cent to close at $1.8200 with 12 loads traded. Class IV futures are 3 -- 7 cents lower. Butter futures are 1.00 cent lower to 1.42 cents higher. Dry whey futures are 0.25 cent higher. Cheese futures are 2.70 cents lower to 1.00 cent higher with the August contract showing ht only gain. Nonfat dry milk futures are 1.22 cents lower to 2.35 cents higher.
