OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $1.10 Higher |
| LIVE CATTLE: | $1.62 Higher |
| DOW JONES: | 344 Points Higher |
| NASDAQ: | 208 Points Higher |
| CRUDE OIL: | $0.50 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased a penny, closing at $1.6850 with three loads traded. The barrel cheese price remained unchanged at $1.73 with no loads traded. There were two unfilled bids for loads of blocks with no loads of barrels. There were two unfilled bids for barrels and one uncovered offer at the close. The dry whey price increased 0.25 cent, closing at 60.75 with nine loads traded. The trading activity was unusually large for spot dry whey. Class III futures are 8 to 26 cents higher. The butter price increased by 2.50 cents, closing at $2.6050 with two loads traded. There were eight unfilled bids and seven uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk decreased a penny, closing at $1.26 with 25 loads traded. This may have been a record amount of loads traded in one period. Class IV futures have not yet been traded. Butter futures are 0.25 cent lower to 1.75 cents higher. Dry whey futures are 0.80 cent lower. The USDA will release the May Dairy Products report Thursday afternoon.
