OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 19 Higher |
| SOYBEAN MEAL: | $11.30 Higher |
| LIVE CATTLE: | $0.52 Higher |
| DOW JONES: | 180 Points Higher |
| NASDAQ: | 163 Points Higher |
| CRUDE OIL: | $2.50 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 3 cents, closing spot trading at $1.88 with no loads traded. Barrel cheese price increased 4.25 cents, closing at $1.8875 with no loads traded. Buyers thought the price was low enough after the fall Thursday and decided to step back in to take advantage of the lower prices. There were offers for one load of blocks and one load of barrels, but they were placed at $1.93. Sellers were not willing to sell at lower prices. Dry whey price remained unchanged at 44.50 cents with no loads traded. Butter price increased 3.50 cents, closing at $2.99 with six loads traded. Grade A nonfat dry milk price declined 1.50 cents, closing at $1.64 with six loads traded. Class III futures are 2 cents lower to 60 cents higher with only front-month July showing the loss. Class IV futures are 13 cents lower with only the November contract trading. Butter futures are steady to 2.50 cents higher. Dry whey futures are 0.60 to 0.70 cent higher. USDA will release the June Agricultural Prices report Friday afternoon, providing the average prices used for calculating income over feed for the Dairy Margin Coverage program.
