OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 3 Lower |
| SOYBEAN MEAL: | $3.00 Lower |
| LIVE CATTLE: | $1.85 Higher |
| DOW JONES: | 454 Points Lower |
| NASDAQ: | 171 Points Lower |
| CRUDE OIL: | $0.24 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.74 and $1.77, respectively. There was one load traded in blocks and two loads traded in barrels. There were two unfilled bids for blocks and an unfilled bid for a load of barrels with two uncovered offers for barrels remaining at the close. The block price initially declined a penny before a bid raised the price steady with Wednesday's close. This may suggest that the market is currently balanced and that prices are supported. Dry whey price regained 1.25 cents closing at 38.25 cents with four loads traded. Class III futures are 4 cents lower to 34 cents higher. Butter price remained steady at $2.9675 with no loads traded. Grade A nonfat dry milk price gained 1.25 cents closing at $1.1150 with one load traded. Class IV futures have only traded the July contract with a gain of 12 cents. Butter futures are 0.30-6.45 cents higher. Dry whey futures are steady to 1.37 cents higher. USDA will release the March Livestock Slaughter report this afternoon, providing the amount of dairy cattle slaughtered for the month.
