OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Lower |
| SOYBEANS: | 4 Higher |
| SOYBEAN MEAL: | $3.10 Higher |
| LIVE CATTLE: | $3.37 Higher |
| DOW JONES: | 126 Points Lower |
| NASDAQ: | 19 Points Lower |
| CRUDE OIL: | $1.08 Higher |
MIDDAY MARKET UPDATE:
The block cheese price declined 5.00 cents, closing at $1.3925 with six loads traded. This is the lowest price since Jan. 30. There was one unfilled remaining and two uncovered offers remaining at the close of spot trading. The barrel price remained unchanged at $1.44, with no loads traded and buyers and sellers showing no interest in doing any business. This has been a standard since barrels have been removed from class pricing. The dry whey price remained unchanged at 72.00 cents with no loads traded. Class III futures are 8 cents lower to 2 cents higher. The butter price gained 1.75 cents, closing at $1.6275 with 22 loads traded. The price initially moved 2.25 cents higher before selling trimmed the gain. There were 34 unfilled bids and no uncovered offers remaining at the close. This suggests further price gains. Grade A nonfat dry milk declined 0.50 cent to close at $1.5950 with two loads traded. Class IV futures are 15 cents lower to 15 cents higher. Butter futures are 5.10 cents lower to 1.55 cents higher. Dry whey futures are 1.45 cents lower to 0.30 cent higher. Cheese futures are 0.50 cent lower to 1.00 cent higher.
