Will A Recession Impact Milk Prices?

10:22 | 15/06/2022

It certainly has been interesting to see the optimism that has been prevalent in Class III futures since May 23rd. Nearby contract months in futures had moved over $1.00 per cwt from low to high even though cheese prices declined. Block cheese price declined 12 1/2 cents while barrels declined 10 1/2 cents over that period of time. The last half of the week from June 6-10, Class III futures showed some weakness as underlying spot prices showed weakness.

Milk Prices Hit a Home Run

21:15 | 07/06/2022

Milk markets rallied on Monday and closed the majority of Class III months 29-56 cents higher between July and December 2022. While the spot dairy product auction was relatively quiet from a cheese and whey perspective, Cooperatives Working Together (CWT) announced dairy product export sales of 3.1 million pounds. American-type cheese sales were placed at 2.5 million pounds while cream cheese printed 604,000 pounds. Product is set for delivery from June through December 2022. 2023 Class III added 5-28 cents out through September. Class IV was also higher on the day as markets were 3-28 cents higher in 2022 and slightly higher in 2023.

Milk Prices See Another Positive Move Higher

21:21 | 18/05/2022

Global Dairy Trade Event #306 concluded with the aggregate down 2.9%. Cheddar cheese was down 0.1%. Whole Milk Powder was 4.9% lower. Skim Milk Powder fell 0.6%. Butter dropped 1.0%

Could Milk Go to $30, Dairy Economist Weigh in about the Dynamic Market

09:19 | 07/05/2022

There are a lot of dynamics going beyond just the higher prices we have seen lately in the dairy market. Closely monitoring dairy culling rates, economists look at what the drivers are and where milk prices could go in the second half of 2022.

Milk Prices Bounce Back Double Digits

12:16 | 05/05/2022

Turnaround Wednesday this week. The dairy markets had a nice bounce back after a lackluster start to the week. The USDA released the March Dairy Products report. Total cheese production came in at 1.196 billion lbs, up 13.2 million lb from a year ago and an 8.3% increase over February 2022 produciton.

Tips to Control Those Feed Costs

21:56 | 27/04/2022

The saying, ‘You cannot control what happens to you, but you can control your attitude towards what happens to you,’ rings true when you think about paying that skyrocketing feed bill. Like it or not, feed prices have dramatically risen year-over-year, and leading experts advise producers to gain some control over their feed costs.

Class III Milk Futures Rally Higher

23:30 | 06/04/2022

Global Dairy Trade event #305 concluded with the price index 1% lower on the day. Cheddar rallied to a 5-year high of $2.94/lb, while our domestic price is trading around $2.27/lb. Butter settled slightly lower on the day to $3.06/lb when converting to 80% butterfat. Skim Milk Powder gained 1% to $2.10/lb while the U.S. price is sitting at $1.85/lb.

Milk Markets Take a Big Hit

23:11 | 29/03/2022

Commodity markets across the board took it on the chin Monday as talks regarding Russia and Ukraine coming back to the table for peace talks with higher level officials than in the past coming together in coming days. Traders have also continued to show concern regarding shutdowns in China regarding Covid and what that may do to demand from them.

Milk Futures Continue to Push Higher

21:42 | 13/03/2022

Friday’s CME spot dairy trade was mixed. Block cheese fell 4.25 cents to $2.19/lb. Barrel cheese was down 6 cents to $2.01/lb. Butter added 1.75 cents to $2.71/lb. NFDM gained ¼ of a penny to $1.84/lb. Whey was unchanged at $0.7575/lb.

Cheddar Prices Reach an All-Time High

11:20 | 02/03/2022

Global Dairy Event #303 concluded Tuesday morning with the price index up 5.1%. Cheddar stole the show, settling nearly 11% higher to an all-time high average price of $2.96/lb. Butter set a five-year high to $3.12/lb when converting it back to the US 80% butterfat content. Whole Milk Powder also rallied to a five-year high to around $2.16/lb.