NEWS
DTN Opening Dairy Comments
Robin Schmahl DTN Contributing Analyst
Wed Nov 13, 2013 09:31 AM CST

Opening Calls:

Class III Milk Futures: Mixed
Class IV Milk Futures: Steady
Butter Futures: Steady to 1 Higher

Outside Markets:

Corn Futures: Mixed
Soybean Futures: 4 to 7 Lower
Soybean Meal Futures: $2 to $3 Lower
Wheat Futures: Mixed

Milk:

Milk futures are anticipating lower prices as time moves forward as seasonal price weakness is being seen in each subsequent month. Rather than closer month futures moving higher to converge with cash, the opposite may now be true. The discount may remain with cash price weakness moving potential milk prices down to the existing futures prices. Milk production is not burdensome ...

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