OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 9 Higher |
| SOYBEAN MEAL: | $8.90 Higher |
| LIVE CATTLE: | $0.12 Lower |
| DOW JONES: | 88 Points Higher |
| NASDAQ: | 187 Points Higher |
| CRUDE OIL: | $1.02 Higher |
MIDDAY MARKET UPDATE:
The block cheese price gained 0.50 cent with seven loads traded. The price initially increased to $1.8850 before selling pressure took the price off the high. Barrel price declined 1.75 cents, closing at $1.98 with seven loads traded. Price initially increased by 0.25 cent, before slipping lower. The dry whey price increased by 0.50 cent, closing at 40 cents with no loads traded. Traders focused on the dry whey and block strength with overall buying interest. Class III futures are 3 cents lower to 19 cents higher with the December contract showing the only weakness. Butter remained steady at $3.1225 with no loads traded. Grade A nonfat dry milk price declined 1.25 cents, closing at $1.1750 with six loads traded. the only contract traded in Class IV futures was the August contract with the price down 11 cents. Butter futures are steady to 4.15 cents lower. Dry whey futures are 0.20 to 0.65 cent lower. USDA will release the April Cold Storage report Friday afternoon. The market will be close on Monday in observance of Memorial Day.
