OUTSIDE MARKETS SUMMARY:
| CORN: | 10 Higher |
| SOYBEANS: | 13 Higher |
| SOYBEAN MEAL: | $8.20 Higher |
| LIVE CATTLE: | $1.20 Higher |
| DOW JONES: | 277 Points Higher |
| NASDAQ: | 187 Points Higher |
| CRUDE OIL: | $1.31 Higher |
MIDDAY MARKET UPDATE:
Block cheese price gained 4 cents, closing at $1.95 with two loads traded. Barrel cheese price gained 4.50 cents, closing at $1.5750 with 20 loads traded. There was an unfilled bid for a load of blocks and 14 unfilled bids for barrels at the close. This would suggest further buying interest on Monday unless buyers are able to find supply out in the country. Dry whey increased a penny to 44.50 with six loads traded. The increase of blocks and barrels should have moved Class III futures significantly higher, but such is not the case as contracts are mixed ranging from 17 cents lower to 11 cents higher. Contracts through June are higher while later contracts are lower. Traders are just not buying into the strength of cash. Butter price remained unchanged at $2.3450 with no loads traded. No buyers or sellers showed up to do any business Friday. Grade A nonfat dry milk price declined 0.25 cent, ending at $1.1775 with one load traded. Class IV futures have not yet traded. USDA will release the January Dairy Products report today, providing information on the production of dairy products for the month.
