OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 7 Lower |
| SOYBEAN MEAL: | $7.10 Lower |
| LIVE CATTLE: | $0.30 Higher |
| DOW JONES: | 764 Points Higher |
| NASDAQ: | 171 Points Higher |
| CRUDE OIL: | $2.78 Higher |
MIDDAY MARKET UPDATE:
After eight consecutive trading days of block price holding steady, price weakness developed Monday. Block price declined 1.50 cents, closing at $1.8425 with three loads traded. There were no unfilled bids or uncovered offers remaining at the close. Barrel cheese price increased 3.75 cents, closing at $1.64 with four loads traded and an offer remaining at the close. This brings the block/barrel spread to 20.50 cents. Butter price increased a penny to $2.0125 with four loads traded. Grade A nonfat dry milk price remained unchanged at $1.5625 with no loads traded. Dry whey price remained unchanged at 69.75 with no loads traded. Class III futures are 6 to 28 cents higher with January showing the greatest gain. Futures have not been able to hold the highs of the day after weakness developed in blocks. Class IV futures are 5 to 26 cents higher. Butter futures are 0.55 to 2.50 cents higher. Dry whey futures are 0.12 to 1.32 cents higher.
