OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 14 Higher |
| SOYBEAN MEAL: | $2.80 Higher |
| LIVE CATTLE: | $1.20 Higher |
| DOW JONES: | 158 Points Higher |
| NASDAQ: | 127 Points Lower |
| CRUDE OIL: | $1.32 Higher |
MIDDAY MARKET UPDATE:
Both block and barrel cheese prices remained unchanged at $1.4400 and $1.4775 respectively. There were no loads traded in either category. There were 4 unfilled bids and 4 uncovered offers remaining for blocks at the close of spot trading. There was no interest in buying or selling in barrels. The dry whey price decreased 1.50 cents to close at 67.00 cents with no loads traded. This is the lowest dry whey price since June 8. Class III futures are 6 cents lower to 7 cents higher. The butter price increased 3.00 cents to close at $1.5550 with 21 loads traded. There were 21 unfilled bids remaining with 5 uncovered offers, suggesting further upside price potential. Grade A nonfat dry milk increased 0.50 cent to close at $1.5800 with 7 loads traded. Class IV futures are 3 cents lower to 38 cents higher. Butter futures are steady to 6.05 cents higher. Dry whey futures are 0.50 cent lower to 0.40 cent higher. Cheese futures are 0.30 cent lower to 1.00 cent higher. Nonfat dry milk futures are 0.75 - 3.30 cents higher. USDA will release the May Cold Storage and the May Livestock Slaughter report this afternoon.
