OPENING CALLS:
| Class III Milk Futures: | 4 to 10 Higher |
| Class IV Milk Futures: | 5 to 10 Higher |
| Butter Futures: | 1 to 2 Higher |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 20 to 25 Higher |
| Soybean Futures: | 18 to 25 Higher |
| Soybean Meal Futures: | $3 to $5 Higher |
| Wheat Futures: | 35 to 40 Higher |
MILK:
Hot weather moving across many areas this week will likely add further support to the market as milk output will be impacted. The bullish implication of the milk production report will also linger as traders look more positive at price potential. Buyers on the spot market might remain somewhat aggressive as they step up to purchase for expected demand later in the year. Milk futures may also see some spillover comparison trade due to the strength of corn futures.
CHEESE:
Sellers of cheese may hold back Monday to see how aggressive buyers will be. The recent buying frenzy may not be finished as buyers will want to increase ownership to prepare for upcoming seasonal demand. USDA will release the June Cold Storage report Tuesday.
BUTTER:
Price has not had the stronger buying interest that cheese has had. That may change as buyers may turn more aggressive due to milk production trending lower and cream supply tightens.
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