DTN Opening Dairy Comments
Butter is trading higher this morning, continuing the small rally off the lows that began with Thursday's trade.
DTN Opening Dairy Comments
OPENING CALLS:
| Class III Milk Futures: | Mixed |
| Class IV Milk Futures: | Mixed |
| Butter Futures: | 1 to 2 Higher |
OUTSIDE MARKET OPENING CALLS:
| Corn Futures: | 2 to 3 Higher |
| Soybean Futures: | 2 to 3 Higher |
| Soybean Meal Futures: | 2 to 3 Higher |
| Wheat Futures: | 3 to 4 Higher |
MILK:
Class III milk is steady to a couple cents lower in the early morning hours. Class IV milk has limited trading, but is also steady to a few cents lower. Small gains are expected to close out the week.
CHEESE:
Cheese traded lower in Thursday’s cash trade for both blocks and barrels. Overnight trade has been mixed with cheese trading slightly above and below Thursday’s close. The market is expecting some continuation of Thursday’s slide lower in the cash trade.
BUTTER:
Butter cash trade was slightly higher Thursday, although still near multi-year lows. Futures finally saw a little positive trade Thursday and overnight trade has continued that new trend, with butter trading 0.525 cents to 2.325 cents higher this morning. USDA announced lower cream and butter prices Thursday as a part of the component pricing.
Robin Schmahl can be reached at rschmahl@agdairy.com
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