OUTSIDE MARKETS SUMMARY:
| CORN: | 4 Higher |
| SOYBEANS: | 7 Higher |
| SOYBEAN MEAL: | $0.70 Lower |
| LIVE CATTLE: | $2.40 Higher |
| DOW JONES: | 354 Points Higher |
| NASDAQ: | 236 Points Higher |
| CRUDE OIL: | $1.15 Higher |
MIDDAY MARKET UPDATE:
The block cheese price fell 6.25 cents, closing at $1.8575 with 21 loads traded. The barrel cheese price remained unchanged at $1.86 with no loads traded. There were four unfilled bids remaining for blocks at the close, with no buyers or sellers showing up to do any business in barrels. The dry whey price increased 1.25 cents, closing at 58.00 cents with two loads traded. Class III futures should have been lower due to the pressure on blocks, with the price falling below barrels. However, Class III futures are 14 cents lower to 31 cents higher, with the losses confined to the February and later contracts. The butter price slipped 0.25 cent, closing at $2.5550 with 23 loads traded. Grade A nonfat dry milk remained unchanged at $1.2625 with three loads traded. Class IV futures have not yet been traded. Butter futures are steady to 0.92 cent lower. Dry whey futures are 0.20 cent lower to 1.00 cents higher.
