OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 12 Lower |
| SOYBEAN MEAL: | $4.90 Higher |
| LIVE CATTLE: | $0.27 Lower |
| DOW JONES: | 90 Points Higher |
| NASDAQ: | 119 Points Higher |
| CRUDE OIL: | $1.04 Higher |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained steady at $1.8625 and $1.83, respectively, with no loads traded. There was an unfilled bid in each with no sellers showing up to the market. Dry whey price remained steady with no loads traded. This was a disappointment to the trade, resulting in selling pressure in August and later contracts. Class III futures are 11 to 63 cents lower with December showing the greatest loss. Only the front-month July shows any gain with that being one cent. Trading activity has been heavy with the August contract showing nearly 1,500 contracts traded. The butter price remained unchanged at $2.6125 with no loads traded with an unfilled bid and uncovered offer remaining at the close. Grade A nonfat dry milk price increased 0.25 cent, closing at $1.1525 with three loads traded. Class IV futures have only traded in the April contract and that was 16 cents lower. Butter futures are 0.07 to 1.50 cents higher. Dry whey futures are unchanged to 0.50 cent lower. USDA will release the June Cold Storage report Tuesday afternoon.
