OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 10 Lower |
| SOYBEAN MEAL: | $0.60 Higher |
| LIVE CATTLE: | $0.55 Higher |
| DOW JONES: | 134 Points Lower |
| NASDAQ: | 244 Points Lower |
| CRUDE OIL: | $0.31 Lower |
MIDDAY MARKET UPDATE:
Both the block and barrel cheese prices remained steady at $1.9475 and $1.87, respectively. There were no loads traded. No buyers or sellers showed up to do business. The dry whey price slipped 0.25 cent, closing at 57.25 cents with one load traded. This did not provide much direction for traders with Class III futures ranging from 9 cents lower to 6 cents higher. The butter price increased 2 cents, closing at $2.4750 with 16 loads traded. There were three unfilled bids and four uncovered offers remaining at the close. Grade A nonfat dry milk increased 0.25 cent, closing at $1.2875 with seven loads traded. Class IV futures are 3-16 cents higher. Butter futures are 0.25 cent lower to 6.90 cents higher. Dry whey futures are steady to 0.25 cent higher. The USDA will release the April Agricultural Prices report this afternoon, providing most of the prices used in the calculation of the income over feed price for the Dairy Margin Coverage program.
