OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 9 Higher |
| SOYBEAN MEAL: | $0.20 Lower |
| LIVE CATTLE: | Unchanged |
| DOW JONES: | 236 Points Lower |
| NASDAQ: | 193 Points Lower |
| CRUDE OIL: | $0.15 Lower |
MIDDAY MARKET UPDATE:
Both blocks and barrel cheese prices remained steady at $1.9875 and $1.9350, respectively. There was some anticipation prices would increase based on the trading activity Thursday. No buyers or sellers showed up to do any business. Butter followed the same pattern with price remaining unchanged at $1.69 with exception of one load traded. There were two unfilled bids and two uncovered offers remaining at the close. Grade A nonfat dry milk price declined 2 cents, closing at $1.85 with two loads traded. Dry whey price remained steady at 81 cents with no loads traded. This provided no solid direction for futures prices. However, most contracts are higher as there remains optimism for higher prices. Class III futures are mixed ranging from 4 cents lower to 19 cents higher. Class IV futures only show trading activity in the April contracts with price 8 cents higher. Butter futures are 1.67 cents lower to 3.35 cents higher. Dry whey futures are unchanged to 0.47 cent lower.
