Hi Sanjiv
It's certainly an ugly looking beggar but I don't know that I'd be writing it off just yet. Given the yellow colour, the smell could be due to Brevibacterium Linens which is not dangerous. Did the surface turn slimy?
I'd be cutting it open and seeing what is happening on the inside. It may well be that the moulds are only on the surface and the cracking may be due to proteolysis from B Linens (in which case the paste under the rind will be soft, perhaps runny).
On the other hand I can't say for sure that it is safe although you did use pasteurised milk which must be some reassurance. I will be interested to see if any of our more experienced contributers have an opinion on that.
As to whether you feed it to the neighbour's cat, that might depend on how you feel about said moggy.