OPENING CALLS:
| Class III Milk Futures: | 5 to 15 Higher |
| Class IV Milk Futures: | 5 to 15 Higher |
| Butter Futures: | Mixed |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | Mixed |
| Soybean Futures: | 3 to 5 Lower |
| Soybean Meal Futures: | $0.30 to $0.50 Lower |
| Wheat Futures: | 10 to 12 Lower |
MILK:
Schools are back in session across the country, bringing additional bottled milk demand. Many are already offering whole milk options for the first time since the Obama era. Another heat wave is hitting many parts of the country this week, bringing additional concern over short-term cow comfort and lower temporary milk production volumes.
CHEESE:
Cheese is struggling to find much ground to stand on with steady to lower demand. Much of the market is in a waiting game to see how much buying will occur and when for seasonal needs. Today, demand is limited despite it being this early in the season.
BUTTER:
Butter cash values were flat week-over-week. Churning is steady with plenty of cream available, although the Midwest region saw some demand from Mexico, while not enough to significantly change the availability of product. Much like the cheese market, butter is waiting for the anticipated holiday-season buying to begin. However, with the availability of butter in the cash market, it may have quietly already begun.
