OUTSIDE MARKETS SUMMARY:
| CORN: | 8 Higher |
| SOYBEANS: | 35 Higher |
| SOYBEAN MEAL: | $13.20 Higher |
| LIVE CATTLE: | $2.75 Higher |
| DOW JONES: | 247 Points Higher |
| NASDAQ: | 187 Points Higher |
| CRUDE OIL: | $0.07 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 2 cents, closing at $1.7875 with no loads traded. No sellers showed up during spot trading. Barrel cheese price increased 2.50 cents, closing at $1.88 with seven loads traded. Dry whey price increased 1.50 cents, closing at 39 cents with no loads traded. Class III futures are 6 cents lower to 30 cents higher. The front-month May contract shows the only loss while the June contract shows the greatest gain. It is a bit surprising the May contract is showing the loss as it is too early for futures to begin flatlining or to move in relationship with the weekly AMS prices. Butter price increased 5.25 cents, closing at $3.0575 with 23 loads traded. Grade A nonfat dry milk price declined by 0.75 cent, closing at $1.1175 with five loads traded. Class IV futures have only traded in the July contract which is 18 cents higher. Butter futures are 0.95 to 4.37 cents higher. Dry whey futures are 0.50 lower to 0.95 cent higher.
