OUTSIDE MARKETS SUMMARY:
| CORN: | 11 Higher |
| SOYBEANS: | 49 Lower |
| SOYBEAN MEAL: | $10.50 Lower |
| LIVE CATTLE: | $2.20 Higher |
| DOW JONES: | 113 Points Higher |
| NASDAQ: | 5 Points Higher |
| CRUDE OIL: | $3.34 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.25 cents ending at $2.1725 with no loads traded. Barrel cheese increased a penny closing at $2.2050 with 6 loads traded. Dry whey price increased 1.25 cents closing at 50 cents with one load traded. Butter price increased 1.50 cents ending at $3.01 with 6 loads traded. This is the highest price since September 28, 2015. Grade A nonfat dry milk slipped 0.50 cents ending at $1.8025 with 4 loads traded. Class III futures are 9-49 cents lower with August taking the brunt of the pressure. Class IV futures are 23-37 cents lower. Butter futures are 0.42 – 5.00 cents lower. This is interesting due to the increase of cash to a new multi-year high. Dry whey futures are 0.50 – 1.65 cents lower. USDA will release the May Dairy Products report today providing information on the production of dairy products for the month.
