OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 6 Higher |
| SOYBEAN MEAL: | $2.70 Higher |
| LIVE CATTLE: | $0.82 Higher |
| DOW JONES: | 28 Points Higher |
| NASDAQ: | 95 Points Higher |
| CRUDE OIL: | $0.16 Lower |
MIDDAY MARKET UPDATE:
The block cheese price remained unchanged at $1.90 with one load traded. The barrel cheese price increased 2.75 cents closing at $1.88 with 10 loads traded. An unfilled bid for a load of blocks and a load of barrels and an uncovered offer for a load of blocks and a load of barrels remained at the close of spot trading. The dry whey price remained steady at 49 cents with one load traded. Class III futures showed little reaction to the increase of barrels as futures are 35 cents lower to 1 cent higher. The only gain is in June which ceases trading today with the Federal Order class price announced on Wednesday. The butter price remained unchanged at $3.1375 with no loads traded. Grade A nonfat dry milk price decreased a penny closing at $1.17 with three loads traded. Class IV futures are 7 cents lower with activity only in the July contract. Butter futures are 1.37 cents lower to 1.50 cents higher. Dry whey futures are 0.25 cent lower to 0.25 cent higher. USDA recommended a decision to amend the uniform pricing formulas for the Federal Orders. Once it is published in early July there will be a 60-day public comment period followed by an evaluation period before a Final Rule is published.
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