OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $0.30 Higher |
| LIVE CATTLE: | $0.90 Lower |
| DOW JONES: | 664 Points Higher |
| NASDAQ: | 452 Points Higher |
| CRUDE OIL: | $0.92 Lower |
MIDDAY MARKET UPDATE:
Spot dairy prices were strong after the holiday weekend as buyers wanted to purchase supplies. The block cheese price increased 5 cents, closing at $1.92 with five loads traded. The barrel cheese price increased 1.25 cents, closing at $1.8650 with six loads traded. There were three unfilled bids for loads of blocks remaining at the close of spot trading, with no uncovered offers. There were two unfilled bids for barrels with three uncovered offers. The dry whey price increased 1.25 cents, closing at 55.50 cents with five loads traded. Class III futures are 3 to 51 cents higher with July above $20.00. The butter price jumped 10 cents, closing at $2.52 with seven loads traded. There were seven unfilled bids and five uncovered offers remaining at the close. The price has increased 17.75 cents over the past three trading days. Grade A nonfat dry milk increased 1.75 cents, closing at $1.27 with one load traded. Class IV futures are 24 to 65 cents higher. Butter futures are 0.25 to 7.50 cents higher with most contracts locked limit up. Dry whey futures are steady to 0.60 cent higher.
