OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 14 Lower |
| SOYBEAN MEAL: | $0.80 Higher |
| LIVE CATTLE: | $1.50 Lower |
| DOW JONES: | 150 Points higher |
| NASDAQ: | 12 Points Higher |
| CRUDE OIL: | $1.49 Higher |
MIDDAY MARKET UPDATE:
Both the block and barrel cheese prices closed steady at $1.4750 and $1.4400 respectively. There were 15 loads of blocks traded and 2 loads of barrels. There were 5 unfilled bids for blocks and 2 uncovered offers remaining at the close of spot trading. The dry whey price declined 1.75 cents, closing at 67.75 cents with 2 loads traded. Class III futures range from 13 cents lower to 8 cents higher. The butter price increased 4.00 cents to close at $1.71 with 23 loads traded. There were 22 unfilled and 21 uncovered offers remaining at the close of spot trading. Grade A nonfat dry milk increased 2.0 cents to close at $2.15 with 6 loads traded. Class IV futures are 15 cents lower to 7 cents higher. The increase in spot prices was already factored in, leaving futures mixed. Butter futures are steady to 2.97 cents higher. Dry whey futures are 0.15--0.75 cent higher. Cheese futures have not yet been traded. Today is the last day to trade May futures and options with the Federal Order class prices to be announced on Wednesday.
