OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 15 Higher |
| SOYBEAN MEAL: | $1.70 Lower |
| LIVE CATTLE: | $0.25 Lower |
| DOW JONES: | 235 Points Higher |
| NASDAQ: | 122 Points Lower |
| CRUDE OIL: | $4.81 Higher |
MIDDAY MARKET UPDATE:
Block cheese price declined 5 cents closing at 41.80 with 5 loads traded. Barrel cheese price declined 0.75 cent closing at $1.80 with no loads traded. There offers for 3 loads of blocks. The unfilled bid was 5 cents lower. There was one uncovered offer for a load of barrels with the unfilled bid 10 cents lower. This could suggest further weakness tomorrow. The unfilled bids that far below the market at the close without any bids in between is a concern as that may be the level the market may move to. Dry whey increased 1.25 cents, closing at 46 cents with 2 loads traded. Class III futures are 29 cents lower to 2 cents higher. April posts the greatest loss. Butter price declined 4.75 cents closing at $2.35 with one load traded. This nearly eliminates the gain of last week. Grade A nonfat dry milk price remained steady at $1.16 with no loads traded. Class IV futures are one cent lower to 11 cents higher. Butter futures are 0.25-1.00 cents lower. Dry whey futures are 0.15 cent lower to 0.20 cent higher. USDA will release the February Dairy Products report Monday afternoon showing the level of dairy products produced during the month.
