OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $0.50 Lower |
| LIVE CATTLE: | $0.85 Lower |
| DOW JONES: | 210 Points Higher |
| NASDAQ: | 196 Points Lower |
| CRUDE OIL: | $0.02 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese remained unchanged at $1.81 and $1.94 respectively. Two unfilled bids remained for blocks and one uncovered offer for barrels remained at the close. The dry whey price increased a penny closing at 41.50 cents with no loads traded. Class III futures are 2 cents lower to 42 cents higher with September showing the greatest gain. Butter jumped 6 cents closing at $3.09 with no loads traded. There were two unfilled bids and one uncovered offer remaining at the close. Grade A nonfat dry milk price gained 0.50 cent closing at $1.1675 with six loads traded. Class IV futures have not yet traded and a bit surprising given the gains over the past two days. Butter futures are 0.70 to 7.50 higher with the June contract posting the limit gain. Dry whey futures are 0.07 cent lower to 1.30 cents higher.
USDA will release the April Agricultural Prices report this afternoon providing the average prices for agricultural commodities for the month. These prices will be used to calculate income over feed for the Dairy Margin Coverage program.
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