OUTSIDE MARKETS SUMMARY:
| CORN: | 11 Lower |
| SOYBEANS: | 15 Higher |
| SOYBEAN MEAL: | $10.30 Higher |
| LIVE CATTLE: | $0.47 Lower |
| DOW JONES: | 132 Points Lower |
| NASDAQ: | 69 Points Lower |
| CRUDE OIL: | $3.47 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices were unchanged today with no loads traded. Prices remained at $2.1950 and $2.1950 respectively with only an offer for a load of barrels posted. Dry whey price increased 0.50 cents closing at 48.75 with no loads traded. Butter price remained unchanged at $2.9950 with no loads traded. Grade A nonfat dry milk price increased 0.75 cents ending at $1.8075 with no loads traded. The inactivity in cheese as well as butter was bearish to the market. Class III futures are 18-53 cents lower in contracts through the end of the year and 2-4 cents higher in the first quarter of next year. Class IV futures are 9-12 cents lower. Butter futures are 2.52 cents lower to 0.65 cent higher. Dry whey futures are 0.40 cent lower to 1.72 cents higher. USDA will release the May Agricultural Prices report this afternoon.
