OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | Unchanged |
| SOYBEAN MEAL: | $0.10 Lower |
| LIVE CATTLE: | $1.07 Higher |
| DOW JONES: | 428 Points Lower |
| NASDAQ: | 241 Points Lower |
| CRUDE OIL: | $4.04 Higher |
MIDDAY MARKET UPDATE:
The block cheese price increased by 2.50 cents to close at $1.54 with three loads traded. The barrel cheese price remained unchanged at $1.55 with no loads traded. The dry whey price remained unchanged at 62.75 cents with no loads traded. Class III futures are mixed, but mostly higher, with contracts ranging from 5 cents lower to 16 cents higher. The butter price increased 3.25 cents, closing at $2.1375 with nine loads traded. There were nine unfilled bids and two uncovered offers remaining at the close. Grade A nonfat dry milk decreased 0.75 cent to close at $1.6625 with 10 loads traded. Business has increased substantially recently, with demand increasing. Class IV traders focused on the weakness of nonfat dry milk with futures 5-46 cents lower. Butter futures are 1.57 cents lower to 2.00 cents higher. Dry whey futures are steady to 0.75 cent lower. Cheese futures are 0.80-2.60 cents higher. February futures and options contracts ceased trading today, with the February Federal Order class prices to be announced on Wednesday.
