OUTSIDE MARKETS SUMMARY:
| CORN: | 26 Lower |
| SOYBEANS: | 48 Lower |
| SOYBEAN MEAL: | $18.10 Lower |
| LIVE CATTLE: | $1.22 Lower |
| DOW JONES: | 68 Points Lower |
| NASDAQ: | 4 Points Higher |
| CRUDE OIL: | $2.47 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 3.25 cents, closing at $2.2475 with four loads traded. This adds to the loss of last week, resulting in a decline of 13.25 cents with Class III futures increasing over the past week. Barrel cheese price remained unchanged after posting an increase of 0.25 cent at one point during spot trading. There were nine loads traded. Dry whey price remained unchanged at 52.25 cents with no loads traded. Class III futures are 1 to 31 cents higher with February showing the greatest gain. Butter price increased 0.25 cent, closing at $2.88 with nine loads traded. Price was 2.50 cents lower at one point before buyers became more aggressive, moving price higher. Grade A nonfat dry milk price increased 0.50 cent, closing at $1.8650 with one load traded. Class IV futures are 1 to 16 cents higher. Butter futures are 0.62 to 3.07 higher, Dry whey futures are 0.20 cent lower to 1.00 cents higher. USDA will release the April Agricultural Prices report Tuesday afternoon, providing prices used in the calculation of income over feed. A payment under the Dairy Margin Coverage program is not expected for the month.
