OPENING CALLS:
| Class III Milk Futures: | 1 to 10 Lower |
| Class IV Milk Futures: | 1 to 10 Lower |
| Butter Futures: | 0.50 to 1 Lower |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 2 to 4 Higher |
| Soybean Futures: | 3 to 6 Higher |
| Soybean Meal Futures: | $2.00 to $2.50 Higher |
| Wheat Futures: | 4 to 6 Higher |
MILK:
Class III futures are lower Thursday morning, trading down 1 to 6 cents. The Dairy Products report for September will be released later Thursday. Wednesday, export data from USDA and Census showed dairy exports up 13.8% year over year. The Class & Component Prices were released as well, with Class II and IV higher, while class III was down 88 cents from last month. Monthly product averages were lower for cheese, butter, nonfat dry milk and dry whey.
CHEESE:
Cheese futures have not yet been traded Thursday. On Wednesday's National Dairy Products Sales report, cheddar cheese prices received for 40-pound blocks averaged $1.53 per pounds last week, which was an increase of 11 cents from the week before. Cheese sales totaled 9.7 million pounds, down from the 10.5 million pounds reported the week before.
BUTTER:
Butter prices received last week for 68-pound boxes, meeting USDA's Grade AA standard, averaged $1.37 per pound. That is an increase of 0.8 cents from the week before and the highest week reported for October 2026. Sales were reported at 3.1 million pounds, which was up from 3 million pounds the week before. It was down significantly from the week ended Oct. 3, which totaled over 5.4 million pounds.
