| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | 1 to 5 Lower |
| Butter Futures: | Mixed |
| Corn Futures: | 1 to 2 Higher |
| Soybean Futures: | 5 to 7 Higher |
| Soybean Meal Futures: | $1 to $5 Higher |
| Wheat Futures: | 1 to 2 Higher |
Class III futures had a big day on Thursday, rallying on some contracts as much as 28 cents near the end of the trading session. Overnight markets have stayed quiet to drifting lower, with many traders waiting for more direction from Friday's cash trade as well as the USDA's October WASDE report. Recent cheese demand is the driver for Class III milk's strength.
CHEESE:Cheese continues to climb in the cash market, sparking a futures rally in both cheese and Class III futures. So far, the cash market has increased by over 4 cents on the weekly average price for blocks while barrels have remained steady.
BUTTER:Butter prices have been hit hard this week, with cash loads falling 4 cents on Thursday alone. Cash prices have fallen 6.5 cents from Monday to Thursday while futures trail slightly behind.
