OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $0.30 Higher |
| LIVE CATTLE: | $0.20 Higher |
| DOW JONES: | 129 Points Higher |
| NASDAQ: | 51 Points Higher |
| CRUDE OIL: | $0.42 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 1.25 cents to close at $1.4575 with one load traded. The barrel cheese price remained unchanged at $1.42, with no loads traded. The dry whey price declined a penny to close at 67.75 cents with no loads traded. The weakness of blocks and dry whey moved Class III futures to double-digit losses in numerous contracts. Prices range from 2 to 17 cents lower. The butter price declined 4.50 cents to close at $1.5550 with 30 loads traded. This moves the price within 3.00 cents of the previous low set on May 21st. There were 5 unfilled bids and 37 uncovered offers remaining at the close. Grade A nonfat dry milk continued the losses with the price declining 3.50 cents to close at $1.6350 with 11 loads traded. Buyers remain active but only at lower prices. Class IV futures are 33 cents lower to 3 cents higher. June is the only contract posting a gain and the one with the most contracts traded. Butter futures are 0.25 -- 4.10 cents lower. Dry whey futures are 0.52 cent lower to 0.25 cent higher. Cheese futures are 0.10 -- 1.60 cents lower. Nonfat dry milk futures are 2.50 cents lower to 1.20 cents higher.
