OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | Steady to 1 Higher |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 1 to 2 Higher |
| Soybean Futures: | 5 to 7 Higher |
| Soybean Meal Futures: | $2 to $3 Higher |
| Wheat Futures: | 3 to 5 Lower |
MILK:
Class III milk futures may struggle to regain the losses of the past two weeks. The next event that could see a significant increase in demand would be Easter, which is a holiday that boosts demand for butter but not so much for cheese. This would provide more support for Class IV futures or at least hold prices where they are. The large premium of Class IV over Class III is expected to continue for much of this year. The weather continues to remain good for cow comfort and milk production.
CHEESE:
Cheese prices have decreased in the past two days, which may bring some buyer interest back into the spot market. Some buying for aging programs is taking place along with current orders that need to be filled. Otherwise, there is little interest in building inventory at present.
BUTTER:
Price is expected to remain stable and in a range for a period. Manufacturers are focusing their attention on Easter season demand and have been preparing for it. Domestic demand is steady while international demand has been lower for much of the past year. A change in export demand could have a large impact on price
