OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Lower |
| SOYBEANS: | 20 Lower |
| SOYBEAN MEAL: | $4.40 Lower |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 192 Points Lower |
| NASDAQ: | 30 Points Higher |
| CRUDE OIL: | $0.93 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.50 cents, closing at $1.61 with 17 loads traded. The barrel cheese price increased 1.25 cents, closing at $1.6275 with six loads traded. Finally, buyers decided the price was low enough to buy supplies for later demand. The dry whey price slipped 0.50 cent, closing at 56.75 cents with six loads traded. The increase in cheese prices did not trigger aggressive buying interest from traders. Class III futures are 16 cents lower to 6 cents higher. The butter price declined 1.50 cents, closing at $2.52, with three loads traded. Nonfat dry milk price remained unchanged at $1.25 with one load traded. Class IV futures have not yet traded. Butter futures are 1.65 to 3.67 cents lower. Dry whey futures to 0.07 cents lower to 0.40 cent higher. USDA will release the May Cold Storage report this afternoon.
