OUTSIDE MARKETS SUMMARY:
| CORN: | 17 Lower |
| SOYBEANS: | 49 Lower |
| SOYBEAN MEAL: | $4.60 Lower |
| LIVE CATTLE: | $0.70 Lower |
| DOW JONES: | 41 Points Higher |
| NASDAQ: | 7 Points Higher |
| CRUDE OIL: | $0.76 Higher` |
MIDDAY MARKET UPDATE:
Block cheese price increased 5.25 cents, closing at $1.96 with one load traded. An offer for a load remained 3 cents higher than the close. Barrel cheese price jumped 10.75 cents, closing at $1.87 with three loads traded. There were five unfilled bids and one uncovered offer remaining at the close. Dry whey price remained steady at 25 cents with no loads traded. Class III futures jumped with contracts ranging from unchanged to 46 cents higher. Butter price remained steady at $2.68 with two loads traded. Grade A nonfat dry milk price declined 1.25 cents, closing at $1.1475 with seven loads traded. Class IV futures are steady to 3 cents higher. Butter futures are 1.50 to 2.35 cents higher. Dry whey futures are steady to 0.95 cent higher. The average soybean meal price was finally released Monday morning at $413.36. This calculates to an income over feed price of $3.65. The June Dairy Margin Coverage payment for those who chose the $9.50 level and have not yet reached their cap, will be $5.85 per cwt.
