OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 32 Higher |
| SOYBEAN MEAL: | $3.60 Higher |
| LIVE CATTLE: | $0.25 Lower |
| DOW JONES: | 261 Points Higher |
| NASDAQ: | 178 Points Higher |
| CRUDE OIL: | Unchanged |
MIDDAY MARKET UPDATE:
Block cheese price remained unchanged at $1.8450 with no loads traded. Buyers and sellers were nowhere to be found. Barrel cheese price fell 8.75 cents, closing at $1.8175 with no loads traded. This pulled barrel price below blocks. The weakness of barrels is putting substantial pressure on Class III futures. Contracts are 30 to 62 cents lower. The exception is front-month January which is 5 cents higher as it adjusts to the weekly AMS prices. Butter price gained 1.75 cents closing at $2.90 with two loads traded. Grade A nonfat dry milk price fell 4 cents ending at $1.81 with one load traded. This is the first price decline after 10 consecutive days steady to higher prices. The strong buying interest of the past few weeks all but dried up with five uncovered offers remaining at the close. Dry whey price increased 2 cents closing at 80 cents with one load traded. Butter futures are 4 cents lower to 1.57 cents higher. Dry whey futures are 0.50 to 2.07 cents higher.
