OUTSIDE MARKETS SUMMARY:
| CORN: | 15 Lower |
| SOYBEANS: | 1 Higher |
| SOYBEAN MEAL: | $1.50 Lower |
| LIVE CATTLE: | $1.15 Lower |
| DOW JONES: | 14 Points Lower |
| NASDAQ: | 19 Points Lower |
| CRUDE OIL: | $0.17 Lower |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.91 and $1.88 respectively with no loads traded in either category. There was one uncovered offer at the close for a load of barrels. The dry whey price increased by 0.50 cents closing at 49 cents with one load traded. Class III futures are mixed ranging from 11 cents lower to 3 cents higher. The butter price increased 1.75 cents closing at $3.1250 with six loads traded. There were four unfilled bids and two uncovered offers remaining at the close. Grade A nonfat dry milk price increased 0.25 cent closing at $1.1825 with one load traded. Class IV futures have only traded in the July contract at 16 cents higher. Butter futures are 0.25 to 2.80 cents higher. Dry whey futures are steady to 0.50 cent lower. USDA will release the May Agricultural Prices report this afternoon providing prices for calculating income over feed. The Quarterly Grain Stocks and Acreage reports were released this morning and were bearish for corn and wheat and friendly for soybeans.
