OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | Mixed |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 2 to 3 Higher |
| Soybean Futures: | 2 to 3 Higher |
| Soybean Meal Futures: | $1 to $2 Lower |
| Wheat Futures: | 8 to 10 Higher |
MILK:
Traders were not interested in conducting business in the overnight session. It was one of those rare nights where no activity took place. Some of the reasons may be that it will be a shorter trading day, with the dairy markets closing at 1:55 p.m. Central time. This may reduce trading volatility and reduce the chances of scalping the market for a quick profit. Of course, the movement in the spot market may change that. USDA will release the February Dairy Products report Thursday afternoon and it will show the volume of dairy product production for the month. Output is expected to be higher than in February 2025.
CHEESE:
Cheese prices continue to see support, with price weakness being short-lived. Cheese production has been increasing as milk receipts have been higher. Demand is reported to be steady. Buyers in the spot market have been active, but cautious.
BUTTER:
It is uncertain where the butter price might find support. Buying interest is strong, but they do not need to be aggressive, as sellers continue to offer supplies to the market at lower prices. Inventory being lower than a year ago is not having a positive impact on the market, as the current production level and available supply are sufficient, leaving market participants unconcerned.
