OUTSIDE MARKETS SUMMARY:
| CORN: | 35 Lower |
| SOYBEANS: | 55 Lower |
| SOYBEAN MEAL: | $9.40 Lower |
| LIVE CATTLE: | $0.37 Higher |
| DOW JONES: | 133 Points Lower |
| NASDAQ: | 17 Points Higher |
| CRUDE OIL: | $1.77 Higher |
Midday Market Update:
Block cheese price gained 2 cents closing at $1.33 with 8 loads traded. Barrel cheese price slipped 0.75 cent closing at $1.3825 with 12 loads traded. Class III futures were unable to maintain the brief price increase in nearby months. Pressure came from the decline of 1.25 cents in dry whey with price closing at 24.25 cents with 10 loads traded. The combination of lower barrels and dry whey offset the gain of blocks. Class III futures are 2-18 cents lower. Butter price increased 4 cents closing at $2.44 with 3 loads traded. Grade A nonfat dry milk remained steady at $1.1175 with no loads traded. Class IV futures are also under pressure with contracts 9-23 cents lower. Butter futures are 1.95 cents lower to 1.20 cents higher. Dry whey futures are 1.40 cents lower to 0.12 cent higher. The June Federal Order class prices will be announced this afternoon.
