OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 8 Higher |
| SOYBEAN MEAL: | $2.30 Higher |
| LIVE CATTLE: | $2.30 Higher |
| DOW JONES: | 65 Points Higher |
| NASDAQ: | 169 Points Higher |
| CRUDE OIL: | $1.75 Higher |
MIDDAY MARKET UPDATE:
Sellers could not find buyer interest for block cheese unless at lower prices. Buyers were willing to purchase but only at lower prices. Price declined 5.50 cents, closing at $1.55 with three loads traded. Barrel cheese price remained steady at $1.65 with one load trading. Dry whey price slipped 0.25 cents closing at 42.50 cents with no loads traded. Class III futures are 10-42 cents lower with April posting the greatest loss and falling below $17. Butter price declined 0.75 cents, closing at $2.7575 with 10 loads traded.
Even though the price declined, it bounced a penny from the low reached earlier during the spot trading period. However, that is not having any impact on Class IV futures, which at 18 cents lower in June was the only contract traded. Grade A nonfat dry milk price increased 0.75 cent, closing at $1.1975 with seven loads traded. Butter futures are 2.50 cents lower to 1.87 cents higher. Dry whey futures are steady to 2.50 cents lower.
