OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 3 Higher |
| SOYBEAN MEAL: | $1.40 Higher |
| LIVE CATTLE: | $2.92 Lower |
| DOW JONES: | 148 Points Lower |
| NASDAQ: | 99 Points Lower |
| CRUDE OIL: | $2.14 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 2.50 cents, closing at $1.7550 with 13 loads traded. There were seven unfilled bids and three uncovered offers remaining at the close of spot trading. This could suggest a balanced market, but it does not indicate the price has found a bottom. The barrel cheese price declined by 2 cents, closing at $1.77 with one load traded. There were two unfilled bids and no offers. The dry whey price increased 0.50 cent, closing at 55.25 with no loads traded. Class III futures are mixed from 6 cents lower to 19 cents higher. The butter price declined 1.50 cents, closing at $2.5775 with five loads traded. Grade A nonfat dry milk declined 0.50 cent, closing at $1.2650 with one load traded. Class IV futures have only traded in the March contract at 8 cents lower. Butter futures are 0.50 to 3.22 cents lower. Dry whey futures are 0.50 cent lower to 0.55 cent higher.
