OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 8 Higher |
| SOYBEAN MEAL: | $1.10 Higher |
| LIVE CATTLE: | $3.77 Higher |
| DOW JONES: | 18 Points Higher |
| NASDAQ: | 22 Points Lower |
| CRUDE OIL: | $0.44 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.75 cents, closing at $1.92 with one load traded. The barrel cheese price moved in the other direction, increasing 1.75 cents, closing at $1.86 with one load traded. Class III futures are lower because that is what the traders will follow now that barrels are not part of the weekly prices used in calculating the class prices. The dry whey price increased 0.50 cents, but was not the focus of traders, and was not enough to offset the decline of blocks. Class III futures are 27 cents lower to 3 cents higher. The butter price slipped 0.25 cent, closing at $2.5575 with 24 loads traded. Even though the price slipped, buyers are interested in purchasing what is being offered. Grade A nonfat dry milk declined a penny, closing at $1.2625 with five loads traded. Class IV futures have not yet been traded. Butter futures are 0.82 to 4.95 cents lower. Dry whey futures are 0.50 lower to 0.50 cents higher. USDA will release the April Dairy Products report this afternoon.
