OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Lower |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $4.20 Lower |
| LIVE CATTLE: | $1.25 Higher |
| DOW JONES: | 213 Points Higher |
| NASDAQ: | 46 Points Higher |
| CRUDE OIL: | $0.96 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased by 3.25 cents to close at $1.93 with 16 loads traded and is the highest price since Jan. 30. There were six unfilled bids and two uncovered offers remaining at the close. The barrel cheese price increased 6 cents, closing at $1.88, and one load traded. There were three unfilled bids remaining at the close of spot trading. It is the highest price since April 15. The dry whey price increased 0.50 cent, closing at 55 cents with one load traded. Class III futures are 3 to 28 cents lower despite the gains. There has been substantial volatility with the June contracts moving 75 cents from high to low. Trading volume is substantial in response to the volatility. The butter price increased a penny, closing at $2.3425 with 10 loads traded. Grade A nonfat dry milk slipped 0.25 cent, closing at $1.2250 with five loads traded. Class IV futures have not yet been traded. Butter futures are steady to 2.20 cents higher. Dry whey futures are 0.25 cent lower to 0.80 cent higher.
