OUTSIDE MARKETS SUMMARY:
| CORN: | 2 Lower |
| SOYBEANS: | 9 Lower |
| SOYBEAN MEAL: | $1.40 Lower |
| LIVE CATTLE: | $0.80 Lower |
| DOW JONES: | 488 Points Higher |
| NASDAQ: | 287 Points Higher |
| CRUDE OIL: | $4.11 Lower |
MIDDAY MARKET UPDATE:
The block cheese price fell 5.50 cents, closing at $1.5950 with 25 loads traded. Buyers' needs were satisfied with no unfilled bids remaining. There were two uncovered offers at higher prices, with the sellers unwilling to lower their offers. The barrel price declined 4.25 cents, closing at $1.6150 with five loads traded. There were five unfilled bids at the close of spot trading. The dry whey price gained 0.25 cent, closing at 57.25 with two loads traded. Surprisingly, Class III futures are not under further pressure, with contracts ranging from 26 cents lower to 6 cents higher. The April and May contracts show the only gains. The butter price gained a penny, closing at $2.5350 with no loads traded. There were two unfilled bids and two uncovered offers remaining at the close. Grade A nonfat dry milk declined a penny to $1.25 with one load traded. Class IV futures are 1 to 18 cents lower. Butter futures are 0.25 to 2.50 higher. Dry whey futures are 0.70 cent lower to 1.00 cents higher.
