OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 46 Lower |
| SOYBEAN MEAL: | $6.40 Lower |
| LIVE CATTLE: | $0.67 Lower |
| DOW JONES: | 180 Points Lower |
| NASDAQ: | 69 Points Lower |
| CRUDE OIL: | $5.20 Lower |
MIDDAY MARKET UPDATE:
Block cheese price increased 7 cents, closing at $2.25 with two loads traded. Barrel cheese price increased 4.25 cents, closing at $2.2025 with 12 loads traded. There was an uncovered offer for a load of blocks way up at $2.40 with three unfilled bids below barrels at 3 to 7 cents below the market. Butter price declined 1.25 cents, closing at $2.70 with nine loads traded. Grade A nonfat dry milk price increased a penny to $1.8450 with one load traded. Dry whey price declined 1.50 cents, ending at 66.25 cents with one load traded. Class III futures are steady to 47 cents higher. Class IV futures are 10 cents lower to 10 cents higher. Butter futures are 1.22 cents lower to 1.00 cent higher. Dry whey futures are unchanged to 1.27 cents lower. Corn futures are substantially higher with soybean futures substantially lower due to potentially less corn acres planted than soybean acres this year. USDA will release the February Agricultural Prices report Thursday, providing prices for calculating income over feed.
