OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 22 Higher |
| SOYBEAN MEAL: | $2.90 Higher |
| LIVE CATTLE: | $0.40 Higher |
| DOW JONES: | 44 Points Higher |
| NASDAQ: | 100 Points Lower |
| CRUDE OIL: | $0.68 Higher |
MIDDAY MARKET UPDATE:
Cheese trade started out with a load of blocks trading at the unchanged price. However, selling pressure surfaced, resulting in price declining 4.25 cents, closing at $1.3625 with nine loads traded. Barrel cheese price declined 5 cents, closing at $1.45 with nine loads traded. Blocks made a new low with price now back to the lowest level since May 7, 2020. Barrels may test the low from May 17. Class III futures are unchanged to 50 cents lower with July taking the brunt or the pressure. The July price is now lower than the June price. Butter price declined 6 cents, closing at $2.356 with one load traded. Grade A nonfat dry milk price declined 0.75 cent, closing at $1.1250 with four loads traded. Class IV futures are 5 to 30 cents lower. Butter futures are steady to 2.97 cents lower. Dry whey futures are unchanged to 1.00 cents lower. Tuesday is the last day to trade June futures or options.
