FreeBSD question

I think there's a fair amount of FreeBSD expertise on
this list, and need the answer to a fairly fundamental
question.

I need to upgrade an installed package (mysql) to the
latest version. If I do this:

# cd /usr/ports/databases/mysql323-server
# make install clean

will that do it for me? Is the intelligence built into
the system to know to look for new versions of packages
in some standard place?

I'm in fairly urgent need of this info.

Thanks a bundle.

--
Lynn David Newton
Phoenix, AZ