OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 35 Lower |
| SOYBEAN MEAL: | $4.30 Lower |
| LIVE CATTLE: | $5.12 Lower |
| DOW JONES: | 1657 Points Lower |
| NASDAQ: | 805 Points Lower |
| CRUDE OIL: | $5.11 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased a penny, closing at $1.64 with eight loads traded. The price initially declined 1.50 cents before buying interest moved the price up to close higher. The barrel price closed unchanged at $1.66 with three loads traded. The price initially fell 3 cents before buyers stepped up aggressively. There were two unfilled bids and two uncovered offers for loads of blocks remaining at the close. The dry whey price slipped 0.25 cent, closing at 49 cents with no loads traded. Class III futures are 2 to 18 cents lower. Futures regained some losses shortly after spot trading, but buying interest dried up. The butter price decreased 3.50 cents, closing at $2.2950 with 11 loads traded. This is the lowest it has been since March 20. Nonfat dry milk decreased 1.00 cents, closing at $1.1575 with two loads traded. Class IV futures have only traded in the June contract at 5 cents higher, with that trade taking place early in the day. Butter futures are 4.92 cents lower to 0.55 cent higher. Dry whey futures are steady to 2.80 cents lower. USDA will release the February Dairy Products report Friday afternoon.
