OUTSIDE MARKETS SUMMARY:
| CORN: | 3 Higher |
| SOYBEANS: | 10 Higher |
| SOYBEAN MEAL: | $4.90 Higher |
| LIVE CATTLE: | $0.10 Lower |
| DOW JONES: | 673 Points Lower |
| NASDAQ: | 426 Points Lower |
| CRUDE OIL: | $1.93 Lower |
MIDDAY MARKET UPDATE:
The block cheese price slipped 0.50 cent, closing at $1.3875 with one load traded. There were two uncovered offers remaining at the close of spot trading with no unfilled bids. The barrel cheese price remained unchanged at $1.44 with no loads traded. The dry whey price remained unchanged at 72.00 cents with no loads traded. Class III futures are 6 cents lower to 22 cents higher. The March contract shows the only loss. The butter price jumped 8.25 cents, closing at $1.7350 with 23 loads traded. There were 54 unfilled bids and no uncovered offers remaining at the close of spot trading, suggesting the price will continue to increase as buyers attempt to outbid each other to purchase at the lowest price they can. Grade A nonfat dry milk increased 0.25 cent to close at $1.5975 with three loads traded. Class IV futures are 3-66 cents higher. Butter futures are 0.25-5.85 cents higher. Dry whey futures are 0.02-0.50 cent lower. Cheese futures are 0.20 cent lower to 2.50 cents higher.
