OUTSIDE MARKETS SUMMARY:
| CORN: | 6 Higher |
| SOYBEANS: | 9 Higher |
| SOYBEAN MEAL: | $1.50 Higher |
| LIVE CATTLE: | $0.20 Lower |
| DOW JONES: | 68 Points Higher |
| NASDAQ: | Unchanged |
| CRUDE OIL: | $0.71 Higher |
MIDDAY MARKET UPDATE:
The block cheese prices slipped by 0.50 cent closing at $1.44 with seven loads traded. The price initially moved 0.50 cent higher but could not hold the gain. The barrel cheese price slipped by 0.25 cent closing at $1.45 with two loads traded. this weakness sent Class III futures lower, Futures showed strength in overnight trade with strong trading volume in the May and June contracts. The strength dissipated with the weakness of cheese and dry whey. Dry whey price declined a penny closing at 38 cents with one load traded. Class III futures are steady to 6 cents lower. The butter price increased 2 cents closing at $2.94 with 11 loads traded. Grade A nonfat dry milk price increased a penny with one load traded. Class IV futures have not yet been traded. Butter futures are 0.07 cent lower to 4.47 cents higher. Dry whey futures are 0.50-2.60 cents lower. USDA will release the February Federal Order class prices today.
