OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $8.30 Higher |
| LIVE CATTLE: | $1.85 Higher |
| DOW JONES: | 573 Points Higher |
| NASDAQ: | 195 Points Higher |
| CRUDE OIL: | $0.58 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined a penny, closing at $1.93 with one load traded. The barrel cheese price slipped by 0.50 cent, closing at $1.97 with one load traded. There were no unfilled bids or uncovered offers remaining at the close. This was a letdown for traders as selling pressure has pushed Class III futures 2 to 24 cents lower. The dry whey price was steady at 54 cents with no loads traded. The butter price gained 0.25 cent, closing at $3.0925 with no loads traded. There were two unfilled bids and one uncovered offer remaining at the close. Grade A nonfat dry milk slipped by 0.50 cent closing at $1.23 with no loads traded. All in all, it was a benign day in the spot market. Class IV futures have not yet been traded. Butter futures are 1.00 cent lower to 2.00 cents higher. Dry whey futures are unchanged. USDA will release the June Cold Storage and the June Livestock Slaughter reports Thursday afternoon. There will be no Dairy Revenue Protection prices released today.
