OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 16 Lower |
| SOYBEAN MEAL: | $14.20 Lower |
| LIVE CATTLE: | $0.20 Higher |
| DOW JONES: | 156 Points Lower |
| NASDAQ: | 7 Points Lower |
| CRUDE OIL: | $1.81 Lower |
MIDDAY MARKET UPDATE:
The block cheese price fell 7.25 cents to $1.3500 with 13 loads traded. This is the lowest price since January 22nd. The barrel cheese price remained unchanged at $1.4525, with no loads traded. The dry whey price increased 0.75 cent to close at 78.00 cents with no loads traded. Class III futures are steady to 23 cents lower. The butter price increased 2.50 cents to close at $1.3700 with 18 loads traded. There were 6 unfilled bids and 14 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk increased 3.00 cents to close at $2.08 with 18 loads traded. Trading activity is seen only in the September and October contracts, posting a gain of 9 cents in each. Butter futures are 0.45 cent higher to 1.50 cents lower. Dry whey futures are 007 -- 1.52 cents higher. Cheese futures are 0.90 -- 2.40 cents lower. Nonfat dry milk futures are 0.67 cent lower to 1.25 cents higher.
