OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 11 Higher |
| SOYBEAN MEAL: | $6.00 Higher |
| LIVE CATTLE: | $0.52 Higher |
| DOW JONES: | 243 Points Higher |
| NASDAQ: | 148 Points Higher |
| CRUDE OIL: | $0.10 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 3.75 cents closing at $2.07 with one load traded and two unfilled bids remaining at the close. Barrel cheese price increased 3 cents ending at $1.95 with three loads traded and an unfiled bid and uncovered offer remaining at the close. The movement of cheese basically offset each other as far as the price calculation for Class III is concerned. However, traders did not like the fact that the weakness was in blocks. Dry whey price declined 0.50 cents ending at 43.75 cents with one load traded. Class III futures are 37 cents lower to 9 cents higher with the gains in July and later contracts. Butter price uncovered a void under the market with price falling 20.25 cents. There were 8 loads traded with six remaining offers and one unfilled bid at the close. Price is near the level it was during the previous freefall. Grade A nonfat dry milk price slipped 0.25 cents closing at $1.38 with no loads traded. Class IV futures are 15-33 cents lower. Butter futures are 2.27 cents lower to 0.72 cents higher with no trading being done after the spot price decline. Dry whey futures are 0.50 cents lower to 0.20 cents higher.
