OUTSIDE MARKETS SUMMARY:
| CORN: | 13 Higher |
| SOYBEANS: | 25 Higher |
| SOYBEAN MEAL: | $11.30 Higher |
| LIVE CATTLE: | $0.17 Higher |
| DOW JONES: | 286 Points Lower |
| NASDAQ: | 264 Points Lower |
| CRUDE OIL: | $1.92 Higher |
MIDDAY MARKET UPDATE:
Block cheese price rebounded 5.25 cents closing at $2.1425 with one load traded. Barrels increased 1.75 cents closing at $2.16 with 2 loads traded. Dry whey price declined 1.75 cents closing at 48.25 cents with 4 loads traded. Even with the strength of cheese, Class III futures are trading mixed ranging from 4 cents lower to 13 cents higher. The only reaction was coming up from the lows, but little else. Traders seem to have now turned more bearish believing the bounce may be short-lived. Butter price increased 5.75 cents closing at $2.9675 with 9 loads traded. Grade A nonfat dry milk declined 1.50 cents with 2 loads traded. Class IV futures are mixed from 9 cents lower to 13 cents higher. Butter futures are 0.97 -- 3.50 cents higher. Dry whey futures are 0.05 -- 2.70 cents lower. Today is the last trading day for June dairy futures and options.
