OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 13 Lower |
| SOYBEAN MEAL: | $9.70 Lower |
| LIVE CATTLE: | $0.67 Lower |
| DOW JONES: | 615 Points Higher |
| NASDAQ: | 169 Points Higher |
| CRUDE OIL: | $2.62 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 6.25 cents, closing at $1.9950 with one load traded. Price has not been under $2.00 since Feb. 28. Barrel cheese price declined 3.50 cents, closing at $2.07 with 10 loads traded. Barrel price did decline to $2.0450 before buyers became more aggressive bringing price back up to the closing price. This was viewed as bit more positive, limiting some of the pressure on some Class III contracts. Futures are 1 to 30 cents lower. Dry whey price declined 0.50 cents with one load traded. Butter price gained 3 cents, bouncing to $2.93 with 11 loads traded. Grade A nonfat dry milk declined 1.50 cents, closing at $1.66 with five loads traded. This offset much of the gain in Class IV would have been realized from a stronger butter price. Class IV futures are 19 to 24 cents lower. Butter futures are 2.00 cents lower to 1.00 cent higher. Dry whey futures are steady to 0.77 cent lower
.jpg)
