OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | 1 to 2 Lower |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | Steady to 1 Lower |
| Soybean Futures: | 1 to 3 Higher |
| Soybean Meal Futures: | Mixed |
| Wheat Futures: | 1 to 2 Lower |
MILK:
Milk futures are unlikely to exhibit significant volatility before spot trading commences. The pattern of limited price strength has continued, leaving traders less likely to buy aggressively on any price strength in the underlying cash. Increasing milk production will provide a sufficient supply for bottling and manufacturing. This will provide sufficient supplies to meet consumer demand without having to dip into inventory as much as usual during the rest of the year. Cow numbers continue to increase as well as production per cow.
CHEESE:
Cheese prices are expected to remain in a range, with lower prices being buying opportunities and higher prices increasing the selling interest. This has been the pattern since November 2024 and is expected to remain.
BUTTER:
The weakness of spot butter over the past two days may result in further weakness and the price moving back down to the low again. Manufacturers have increased butter output due to increased cream supply. Excess butter supplies will be offered on the spot market to keep plant inventories from building.
.jpg)
