OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $3.10 Higher |
| LIVE CATTLE: | $1.55 Higher |
| DOW JONES: | 189 Points Lower |
| NASDAQ: | 25 Points Lower |
| CRUDE OIL: | $2.36 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased a penny, closing at $1.6450 with three loads traded. The barrel cheese price remained unchanged at $1.6150 with no loads traded. The dry whey price increased 0.25 cent to close at 69.75 cents with no loads traded. Class III futures are 4 cents lower to 22 cents higher. The butter price increased 6.00 cents, closing at $1.7050 with five loads traded. Grade A nonfat dry milk remained unchanged at $2.26 with three loads traded. Class IV futures are 9-50 cents higher with both the May and June contracts above $22.00. Butter futures are 0.72 cents lower to 4.52 cents higher. Dry whey futures are 0.40-0.75 cents lower. Cheese futures are 0.10-2.80 cents higher. USDA will release the March Milk Production report this afternoon. Inventory is expected to increase but remain below a year ago.
