OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | Mixed |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 1 to 2 Higher |
| Soybean Futures: | Mixed |
| Soybean Meal Futures: | Mixed |
| Wheat Futures: | 1 to 2 Lower |
MILK:
There is not much expectation for a change in the market any time soon. This week may not see much movement of futures as the end of the year is near. Traders will square-up their positions to close out the books. Manufacturers may want to further reduce their inventory to close out the year. The weather in many areas of the country is mild and beneficial for cow comfort and milk production. Milk output continues to slowly improve from week to week but continues to remain below a year ago. There is little to generate excitement from traders. Milk futures are expected to remain choppy.
CHEESE:
There is concern cheese prices may retest the lows possible even before the end of the year. There have been quite a few unfilled bids during spot trading, but those unfilled bids have all been below the market. Maybe this will provide some support but may not result in higher prices.
BUTTER:
The weakness of butter Friday may keep buyers on the sidelines Tuesday or possibly this week. Buyers do not want to add to inventory with manufacturers wanting to reduce inventory. The November Cold Storage report showed butter stocks 8% above a year ago, which may keep pressure on price.
