OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Lower |
| SOYBEANS: | 2 Higher |
| SOYBEAN MEAL: | $5.30 Lower |
| LIVE CATTLE: | $0.02 Higher |
| DOW JONES: | 186 Points Higher |
| NASDAQ: | 119 Points Higher |
| CRUDE OIL: | $0.86 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined a penny Tuesday closing at $1.87 with one load traded. Barrel cheese price remained steady to $1.58 with 2 loads traded. The weakness of blocks put significant pressure on Class III milk futures with double-digit losses permeating throughout the whole of this year. Futures are 26 cents lower to 3 cents higher. The only gain is in front-month January which goes off the board Tuesday. Dry whey price was unchanged at 32 cents with no loads traded. Butter price declined 4.75 cents closing at $2.3050 with 22 loads traded. There were no unfilled bids or uncovered offers remaining at the close as business was completed. Grade A nonfat dry milk price remained steady to $1.1525 with no loads traded. There has only been activity in the January Class IV contract with price unchanged. Butter futures are 0.65 to 2.00 cents lower. Dry whey futures are steady to 1.00 cent lower. Tuesday is the final trading day for January futures and options with the Federal Order Prices being announced Wednesday. USDA will release the December Agricultural Prices report Tuesday and the Bi-annual Cattle Inventory report.
