OUTSIDE MARKETS SUMMARY:
| CORN: | 5 Higher |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $1.10 Lower |
| LIVE CATTLE: | $0.82 Higher |
| DOW JONES: | 232 Points Lower |
| NASDAQ: | 2 Points Lower |
| CRUDE OIL: | $1.74 Higher |
MIDDAY MARKET UPDATE:
Block cheese price increased 5.25 cents closing at $1.51 with six loads traded and two uncovered offers remaining at the close. The barrel price increased 1.50 cents closing at $1.47 with five loads traded. There was an unfilled bid and two uncovered offers remaining at the close. This moved the block/barrel spread to 4 cents which historically would be considered a normal spread. However, that is not normal anymore. Class III futures are 2 cents lower to 22 cents higher with February showing the greatest strength. Butter price gained 3.75 cents closing at $2.5675 with no loads traded. Grade A nonfat dry milk price gained 2.50 cents closing at $1.2050 with five loads traded. Class IV futures are 2 cents lower to 10 cents higher. Butter futures are 0.10-2.50 cents higher. Dry whey futures are 0.20 cent lower to 1.70 cents higher.
