OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Lower |
| SOYBEANS: | 11 Lower |
| SOYBEAN MEAL: | $0.90 Lower |
| LIVE CATTLE: | $0.05 Lower |
| DOW JONES: | 385 Points Lower |
| NASDAQ: | 100 Points Lower |
| CRUDE OIL: | $1.29 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 1.75 cents to close at $1.3975 with six loads traded. This is the third consecutive trading day posting a gain. The barrel cheese price remained unchanged at $1.40 with no loads traded. The dry whey price remained unchanged at 75.00 cents with no loads traded. Class III futures are mixed, ranging from 4 cents lower to 6 cents higher. The butter price declined 1.25 cents, closing at $1.4525 with two loads traded. The gain in the butter price since Dec. 1 has been eliminated. Grade A nonfat dry milk declined 0.75 cent to close at $1.1625 with one load traded. Class IV futures are 2-12 cents lower. Butter futures are 0.30 cent lower to 2.20 cents higher. Dry whey futures are 1.60 cents lower to 1.50 cents higher. Cheese futures are 0.10 to 1.20 cents higher. The Global Dairy Trade action trade-weighted average declined 4.4% today. This is the 10th consecutive trading session showing a decline.
