OUTSIDE MARKETS SUMMARY:
| CORN: | 25 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $3.20 Higher |
| LIVE CATTLE: | $1.17 Higher |
| DOW JONES: | 181 Points Higher |
| NASDAQ: | 64 Points Lower |
| CRUDE OIL: | $3.24 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 5.75 cents, closing at $2.3650, with two loads traded. Barrel cheese price increased 2.25 cents, closing at $2.4175 with seven loads traded. This had a huge impact on Class III futures, taking contracts for low prices to high prices in a short period of time. June moved limit up at 1 point, resulting in a price swing since the market opened Sunday evening of $1.24 per cwt. July and August had a swing of $0.98 per cwt. The fact that dry why price declined 4.75 cents, closing at 48.50 cents, does not seem to be a focus of traders right now. There were seven loads traded. That may come into play later in the session or later this week. Butter price increased 3.50 cents closing at $2.74 with seven loads traded. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.7350, with no loads traded. Class III futures are 1 cent lower to 56 cents higher with May posting the decline. Class IV futures are 15 to 28 cents higher. Butter futures are 1.50-5.72 cents higher. Dry whey futures are 1.50-2.15 cents lower.
