OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $0.40 Higher |
| LIVE CATTLE: | $0.95 Higher |
| DOW JONES: | 160 Points Higher |
| NASDAQ: | 34 Points Higher |
| CRUDE OIL: | $0.49 Lower |
MIDDAY MARKET UPDATE:
The block cheese price jumped 10 cents, closing at $1.72 with 12 loads traded. This moves the price back to the highest level since June 17. The barrel cheese price increased 3 cents, closing at $1.6950 with six loads traded. There were nine unfilled bids for blocks remaining with no offers. Barrels had one unfilled bid and one uncovered offer remaining at the close. The dry whey price increased a penny, closing at 59.50 cents with one load traded. Class III futures are 3 cents lower to 37 cents higher, with September showing the greatest gain. The butter price increased 3.75 cents, closing at $2.60 with three loads traded. Grade A nonfat dry milk increased 0.25 cent, closing at $1.2525 with one load traded. Class IV futures have only traded in the March contract at 6 cents lower. Butter futures are steady to 3.00 cents higher. Dry whey futures are 1.50 to 3.00 cents higher. USDA will release the May Agricultural Prices report this afternoon, showing the average prices used in the calculation of the income over feed used for the Dairy Margin Coverage program.
