OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | Higher |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | Mixed |
| Soybean Futures: | 3 to 4 Lower |
| Soybean Meal Futures: | 3 to 4 Lower |
| Wheat Futures: | Mixed |
MILK:
Milk futures are digesting the September Milk Production data released Monday afternoon. The trend in general is higher milk production by a wide margin above 2024. However, in the short term, the tides are changing as production did fall from August to September. There is still plenty of milk produced, but all eyes will be on the October data, which is expected to be released later this month.
CHEESE:
Cheese is expected to be mixed today. There is demand, but supply is having no difficulty keeping up with what is needed currently. All eyes are on what happens in the House today, and if the government can reopen anytime soon.
BUTTER:
Butter had a small rally in the cash market Monday giving futures some strength in the overnight markets. There was a considerable amount of demand with 18 loads traded and a handful of bids left unfulfilled. Today will tell if tides are changing for butter or if it was just a small bounce after last week's downward spiral.
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