OUTSIDE MARKETS SUMMARY:
| CORN: | Unchanged |
| SOYBEANS: | 1 Lower |
| SOYBEAN MEAL: | $2.10 Higher |
| LIVE CATTLE: | $0.75 Higher |
| DOW JONES: | 657 Points Lower |
| NASDAQ: | 408 Points Lower |
| CRUDE OIL: | $1.24 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased 4.50 cents, closing at $1.3350 with seven loads traded. This is the highest price since Jan. 7. The barrel cheese price remained unchanged at $1.3575 with no loads traded. The dry whey price remained steady at 73.50 cents with no loads traded. Class III futures have diverged, with contracts through April higher, while later contracts are lower. Futures range from 18 cents lower to 22 cents higher. The butter price increased 5.00 cents, closing at $1.41 with seven loads traded. This is the highest butter price since Dec. 19. Grade A nonfat dry milk increased 0.50 cent to close at $1.26 with two loads traded. Class IV futures are mixed from 22 cents lower to 5 cents higher. Butter futures are 3.05 to 6.85 cents higher. Dry whey futures are 0.05 to 0.50 cent higher. Cheese futures are 0.50 cent lower to 2.00 cents higher.
