OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $4.40 Higher |
| LIVE CATTLE: | $1.30 Lower |
| DOW JONES: | 244 Points Lower |
| NASDAQ: | 79 Points Lower |
| CRUDE OIL: | $3.36 Higher |
MIDDAY MARKET UPDATE:
The block cheese price fell 3.00 cents to close at $1.3275 with 2 loads traded. There were no unfilled bids, with 3 uncovered offers remaining at the close. The barrel cheese price remained unchanged at $1.4225 with no loads traded. The dry whey price increased 0.75 cent to close at 80.50 with no loads traded. Class III futures are 22 cents lower to 2 cents higher. The butter price slipped 0.75 cent to close at $1.3575 with 14 loads traded. There were 25 unfilled bids and 4 uncovered offers. This is the second day in which there were more bids than offers remaining at the close of spot trading. Grade A nonfat dry milk increased 2.00 cents to close at $2.1700 with 6 loads traded. Class IV futures are 12-23 cents higher. Butter futures are 0.75 cent lower to 0.55 cent higher. Dry whey futures are 0.50 cent lower to 0.25 cent higher. Cheese futures are steady to 1.90 cents lower. Nonfat dry milk futures are 0.72 – 2.37 cents higher. The August Livestock Slaughter report will be released this afternoon, indicating the volume of dairy cattle slaughtered during the month.
