OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 5 Lower |
| SOYBEAN MEAL: | $1.50 Higher |
| LIVE CATTLE: | $0.75 Higher |
| DOW JONES: | 156 Points Lower |
| NASDAQ: | 96 Points Higher |
| CRUDE OIL: | $0.20 Higher |
MIDDAY MARKET UPDATE:
The block cheese price remained steady to close spot trading at $1.70 with eight loads traded. The price initially declined by 0.75 cent before buying interest eliminated the loss. The barrel cheese price increased by 1.50 cent to close at $1.7050 with three loads traded. There were two unfilled bids and two uncovered offers remaining, with one unfilled bid and one uncovered offer remaining at the close. The dry whey price slipped 0.50 cent, closing at 50.50 with two loads traded. Class III futures were mixed moving into spot trading and have remained that way, with most contracts lower. Futures range from 11 cents lower to 6 cents higher. The butter price declined 4.50 cents, closing at $2.28 with three loads traded. The price moved below the trading range it has been in to close at the lowest level since March 4. Grade A nonfat dry milk remained unchanged at $1.1875 with no loads traded. Class IV futures have only traded one contract in June, with the price down 19 cents. Butte futures are 3.95 cents lower to 0.22 cent higher. Dry whey futures are 1.52 cents lower to 1.00 cents higher.
