OUTSIDE MARKETS SUMMARY:
| CORN: | 16 Higher |
| SOYBEANS: | 26 Higher |
| SOYBEAN MEAL: | $0.20 Higher |
| LIVE CATTLE: | $0.40 Lower |
| DOW JONES: | 335 Points Higher |
| NASDAQ: | 100 Points Higher |
| CRUDE OIL: | $0.65 Lower |
MIDDAY MARKET UPDATE:
Cheese prices had the rug pulled out from under them Thursday. Blocks fell 8.75 cents, ending at $1.85 with two loads traded. Barrel cheese price fell 11.25 cents, closing at $1.8450 with four loads traded. This is the lowest block price since Feb. 2 and the lowest barrel price since Jan. 31. This hit Class III futures hard with contracts 19 to 57 cents lower. The only exception was front-month July, which is up 3 cents as it nears the announcement of the Federal Oder prices. Butter price declined 3.75 cents, ending at $2.9550 with three loads traded. Grade A nonfat dry milk price declined a penny to $1.65 with no loads traded. Dry whey price declined a penny to 44.50 with no loads traded. Class IV futures are 5 to 34 cents lower. Butter futures are 0.27 to 7.50 cents lower. Dry whey futures are 0.55 to 0.70 cent lower.
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