OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $0.50 Lower |
| LIVE CATTLE: | $2.02 Higher |
| DOW JONES: | 9 Points Higher |
| NASDAQ: | 89 Points Higher |
| CRUDE OIL: | $1.17 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 0.50 cent, closing at $1.6725 with 15 loads traded. The barrel cheese price increased 4.50 cents, closing at $1.68 with no loads traded. The dry whey price decreased by 0.75 cent, closing at 53.25 cents with five loads traded. Class III futures are 19 cents lower to 2 cents higher. Traders are focused on the volume of blocks traded rather than the increase in price. Sellers remain willing to offer loads to the market, which may indicate there is sufficient supply limiting upside price potential. The butter price declined 3 cents, closing at $2.4725 with four loads traded. Grade A nonfat dry milk increased 0.50 cent with no loads traded. Class IV futures are 10 to 17 cents lower. Butter futures are 0.50 to 5.47 cents lower. Cheese futures are 0.10 to 1.50 cents lower. Dry whey futures are 0.50 cent lower to 0.40 cent higher. USDA will release the July Federal Order class price today.
