OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 5 Higher |
| SOYBEAN MEAL: | $2.00 Higher |
| LIVE CATTLE: | $0.32 Higher |
| DOW JONES: | 467 Points Higher |
| NASDAQ: | 237 Points Higher |
| CRUDE OIL: | $0.18 Lower |
MIDDAY MARKET UPDATE:
The block cheese price increased 4.50 cents to close at $1.56 with eight loads traded. There were seven unfilled bids remaining at the close of spot trading and no uncovered offers. The barrel cheese price remained unchanged at $1.49 with no loads traded. The dry whey price decreased 1.75 cents to close at 63.75 cents with two loads traded. Class III futures are 15 cents lower to 12 cents higher. The butter price remained steady at $1.8125 with 28 loads traded. There were nine unfilled bids and three uncovered offers remaining. The price initially declined 2.25 cents before buying interest moved the price back up to unchanged. Grade A nonfat dry milk increased 0.50 cent to close at $1.65 with no loads traded. Class IV futures are 23 cents lower to 6 cents higher. Butter futures are 2.00 cents lower to 1.75 cents higher. Dry whey futures are 0.75 0 to 1.52 cents lower. Cheese futures are unchanged to 1.30 cents higher. The January Cold Storage report will be released today, with butter inventory being the category watched with the most interest.
