OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Lower |
| SOYBEANS: | 2 Lower |
| SOYBEAN MEAL: | $4.00 Lower |
| LIVE CATTLE: | $0.25 Higher |
| DOW JONES: | 180 Points Higher |
| NASDAQ: | 68 Points Higher |
| CRUDE OIL: | $2.22 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $2.2475 and $2.30, respectively. There were no loads traded in either category with only an offer showing up for a load of barrels at $2.35. Dry whey price remained unchanged at 59.50 cents with no loads traded. Pressure continues to be put on Class III futures as some of the optimism the market contained has been dissipated recently as traders have become disappointed with underlying cash price movement. Butter price declined 4.75 cents, closing at $2.62 with three loads traded. There three unfilled bids remaining with one of those bids way down at $2.49. There was one uncovered offer above the market. Grade A nonfat dry milk declined 4 cents, closing at $1.71 with two loads traded. There were a lot of unfilled bids and uncovered offer remaining at the close as neither side was aggressive enough to take care of any more business. Class III futures are unchanged to 45 cents lower with September showing the greatest loss. Class IV futures are 31 to 58 cents lower. Butter futures are 2.50 to 4.50 cents lower. Dry whey futures are 1.50 cents lower to 1.00 cent higher. Today is the final day to trade April dairy futures and options with the Federal Order prices to be released Wednesday.
