OUTSIDE MARKETS SUMMARY:
| CORN: | 9 Lower |
| SOYBEANS: | 6 Lower |
| SOYBEAN MEAL: | $2.70 Higher |
| LIVE CATTLE: | $0.05 Lower |
| DOW JONES: | 394 Points Lower |
| NASDAQ: | 226 Points Lower |
| CRUDE OIL: | $0.84 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 7 cents, closing at $1.88 with no loads traded. There were five uncovered offers remaining at the close with no buyers showing up during spot trading Friday. Barrel cheese price declined 2.75 cents, closing at $1.54 with seven loads traded. Everyone who came to do business went home satisfied. Dry whey price increased 0.25 cent, closing at 46.50 with no loads traded. Class III futures are 3 to 19 cents lower. Butter price increased 5 cents, closing at $2.43 with no loads traded. A buyer was aggressively looking for a load, but was unable to entice a seller even after raising the price. Grade A nonfat dry milk price remained unchanged at $1.2150 with no load traded. Class IV futures are 1 to 8 cents lower. Butter futures are 0.50 cent lower to 1.00 cent higher. Dry whey futures are 0.50 cent lower to 0.25 cent higher. USDA will release the January Cold Storage report this afternoon.
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