OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 15 Lower |
| SOYBEAN MEAL: | $5.90 Higher |
| LIVE CATTLE: | $1.65 Lower |
| DOW JONES: | 169 Points Lower |
| NASDAQ: | 165 Points Lower |
| CRUDE OIL: | $4.27 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 4.75 cents Friday, closing at $2.15 with four loads traded. Barrels remained unchanged at $1.97 with two loads traded. There were unfilled bids or uncovered offers remaining at the close. Butter price declined 1.50 cents, closing at $2.6850 with eight loads traded. Grade A nonfat dry milk price slipped 0.25 cent, closing at $1.8725, with four loads traded. Dry whey price increased 0.25 cent, ending at 75.75, with one load traded. Class III futures are 2-26 cents higher. However, contracts are trading well off their highs again due to a steady barrel price and weakness of butter. Class IV futures show very limited trading activity only in May through July contracts with prices unchanged to 15 cents higher. Butter futures are unchanged to 2.20 cents higher. Dry whey futures are steady to 0.25 cent higher. USDA will release the January Dairy Products report Friday afternoon.
