OPENING CALLS:
| Class III Milk Futures: | 5 to 20 lower |
| Class IV Milk Futures: | Steady to 10 Higher |
| Butter Futures: | Mixed |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | Steady to 2 Lower |
| Soybean Futures: | 5 to 10 Lower |
| Soybean Meal Futures: | 30 to 40 Lower |
| Wheat Futures: | 5 to 10 Lower |
MILK:
Class III milk closed last week with no clear direction, while Class IV was hit hard with the weakness in butter. Overnight markets are showing small gains in Class IV while Class III is kicking off the short week lower.
CHEESE:Cheese showed nice gains in the cash market last week although there is concern in the lack of interest in barrels. Dry whey has not yet traded on the overnight markets but had some small wins last week in the cash market.
BUTTER:Overnight markets are mixed in the butter market. Hopefully stopping some of the bleeding from last week's significant fall of over 19 cents and placing a new low price -- the lowest seen in nearly four years.
