OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $1.40 Lower |
| LIVE CATTLE: | $0.85 Lower |
| DOW JONES: | 29 Points Lower |
| NASDAQ: | 171 Points Lower |
| CRUDE OIL: | $3.12 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.25 cent to close at $1.4325 with 4 loads traded. The barrel price increased 1.25 cents to close at $1.4525 with one load traded. The gain in barrels did not offset the decline in blocks because barrels are not part of the calculation in the Class III price. The dry whey price remained unchanged at 76.25 with no loads traded. Class III futures are 19 cents lower to 1 cent higher with the September contract the only one showing a gain. The butter price remained steady at $1.3550 with 21 loads traded. Then price initially declined 0.75 cents before regaining the loss. There were 12 unfilled bids and 45 uncovered offers remaining at the close. Grade A nonfat dry milk increased 1.50 cents to close at $2.05 with 5 loads traded. Class IV futures have not yet traded. Butter futures are 3.00 cents lower to 2.25 cents higher. Dry whey futures have not traded. Cheese futures are steady to 1.00 cent lower. Nonfat dry milk futures are 0.77 cent lower to 1.32 cents higher.
