OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 16 Higher |
| SOYBEAN MEAL: | $0.40 Lower |
| LIVE CATTLE: | $0.47 Higher |
| DOW JONES: | 75 Points Higher |
| NASDAQ: | 300 Points Lower |
| CRUDE OIL: | $1.54 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 2.25 cents closing at $1.9250 with 1 load traded. Barrel cheese price declined a penny closing at $1.6450 with 9 loads traded. Barrels initially increased 0.75 cent before selling pressure brought it back down to a penny lower. There were offers for two loads remaining at the close, suggesting further weakness Friday. The greatest impact is seen on the January Class III contract posting a loss of 22 cents However, February price fell back from $20.07 to the current level of $19.85 and a loss of 9 cents from Thursday. Class III futures overall are 22 cents lower to 14 cents higher with February 2023 showing the greatest gain. Butter price declined a penny closing at $2.09 with 6 loads traded. Grade A nonfat dry milk price increased 0.25 cent closing at $1.6650 with 1 load traded. Dry whey price remained unchanged at 71.25 cents with no loads traded. Class IV futures are 10 cents lower to 6 cents higher. Butter futures are 2.50 cents lower to 1.00 cents higher. Dry whey futures are 0.10 cent lower to 1.50 cents higher.
