OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $0.90 Lower |
| LIVE CATTLE: | $0.57 Higher |
| DOW JONES: | 24 Points Lower |
| NASDAQ: | 160 Points Higher |
| CRUDE OIL: | $0.36 Higher |
MIDDAY MARKET UPDATE:
Block cheese price was initially under pressure during spot trading. Price initially declined 1.75 cents, reaching $1.8825 before buyers became more aggressive, moving the price back to unchanged at $1.90 with three loads traded. There were three unfilled bids and one uncovered offer remaining at the close. The barrel cheese price increased 2.25 cents, closing at $1.9025 with two loads traded. There was an unfilled bid and an uncovered offer remaining at the close. Dry whey remained steady at 49 cents with no loads traded. Class III futures are 5 cents lower to 29 cents higher. The January contract shows the only loss. The butter price slipped 0.25 cent, closing at $3.1350 with three loads traded. Nonfat dry milk increased a penny, closing at $1.18 with two loads traded. Class IV futures have not yet been traded. Butter futures are 3.00 cents lower to 0.02 cent higher. Dry whey futures are 0.25 cent lower to 0.25 cent higher. USDA will release the June Federal Order prices and the May Dairy Products report Wednesday afternoon. There will be no Dairy Revenue Protection prices released due to the report. The markets will be closed on Thursday in observance of Independence Day.
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