OUTSIDE MARKETS SUMMARY:
| CORN: | 7 Higher |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $0.20 Higher |
| LIVE CATTLE: | $4.20 Higher |
| DOW JONES: | 388 Points Higher |
| NASDAQ: | 198 Points Higher |
| CRUDE OIL: | $0.32 Higher |
MIDDAY MARKET UPDATE:
The block cheese prices slipped 0.50 cent, closing at $1.47 with one load traded. The barrel cheese price remained unchanged at $1.5825 with no loads traded. The block/barrel spread is at 11.25 cents, which seems to be meaningless as it will not provide any indication of price direction. The dry whey price declined 0.75 cent, closing at 73.25, with seven loads traded. Class III futures are 5 cents lower to 12 cents higher. The butter price increased 2.00 cents, closing at $1.45 with 10 loads traded. This is the first price increase in seven consecutive trading sessions. Grade A nonfat dry milk declined 1.75 cents to close at $1.1425 with four loads traded. This is the lowest price since Nov. 6. Class IV futures have not yet been traded. Butter futures are 4.22 cents lower to 1.50 cents higher. Dry whey futures are unchanged to 0.50 cent lower. Cheese futures are 0.40-1.60 cents higher.
