Milk Prices May Be Lower Next Year

17:02 | 18/12/2022

The market is now headed into a period when much of the holiday demand for dairy products has been met with fill-in orders still needing to be taken care of as those orders are placed. But time is running out and much of what will take place is taking care of regular demand as we move forward. We will continue to see some volatility but much of the volatility might be more evident in butter. With good demand, lower inventory, and strong exports, volatility will abound but may at lower levels than it had been during the Fall.

Milk Prices Tank Ahead of Thanksgiving

15:32 | 27/11/2022

Dairy Markets tumbled into the Thanksgiving Holiday and struggled to find a buyer. As we wrap up the short holiday trading week, Class III milk lost big. November Class III milk gained a penny to $21.04, but December fell 69 cents to $20.31/cwt. January followed, losing 38 cents to $20.06 with the balance of 2023 falling 5-18 cents.

Stock Market Shoots Up, Milk Prices Not-So-Much

21:51 | 30/10/2022

Friday markets were quiet as we head into the weekend. As the DOW Jones had a big day, gaining back over 800 points and Crude Oil moved back over $88/barrel, back to levels pushing towards early October highs. Grain markets finished mixed with Soybean meal leading the way, gaining $10 to $425.40/ton, but corn slid 1 ½ cent to $6.80 ¾ and soybeans finishing the week at $13.87 3/4/bu.

Dairy prices rise, volumes fall at auction - GDT events

22:14 | 21/09/2022

The GDT Price Index gained 2%

High Milk Prices May Impact Demand

22:13 | 21/09/2022

Food prices have risen substantially causing consumers to look for ways to stretch their dollar. Dairy products will remain an integral part of the diet, but the volume of purchases might be reduced.

Milk Prices Back in the $20s

21:33 | 10/08/2022

Tuesday’s CME spot dairy product auction was a mixed bag. Block cheese gained 3.50 cents to $1.82/lb. Barrel cheese rallied 8.50 cents to $1.88/lb. Butter fell 1.50 cents to $2.96/lb. NFDM dropped 2.25 cents to $1.46/lb. Whey gained 1 penny to $0.4450/lb.

Milk Prices Gain Momentum

10:37 | 30/07/2022

Dairy markets found some strength in the Class III space to wrap up the week. August rose 24 cents to $20.37/cwt. September led the charge higher adding 48 cents while Q4 2022 ranged from 31-38 cents stronger. Q1 2023 was up double digits as well. Class IV markets declined in the Q4 period 9-20 cents/cwt.

Butter Storage Stocks Drop Lower

10:23 | 23/07/2022

Friday’s milk market again saw softness in the spot trade and futures in anticipation of cold storage report from USDA. June’s cold storage had US butter inventories totaling 332 million lbs. This is a growth of 10 million lbs from May and was larger than our 5 year average change month over month – we average a decrease of 1.1 Million lbs. We estimate to have 54 days of butter currently in storage versus the average of 63 days.

Could High Butter Prices Push Consumers Away?

09:28 | 02/07/2022

Butter prices have reached their highest level since September 2015, with prices topping out at $3 earlier this month. Similarly, milk prices have been strong throughout 2022 due to increased global demand, improved exports and lighter milk production. In turn, this combination has had a positive effect on dairy producers’ pocketbooks. But according to Tanner Ehmke, CoBank’s lead dairy economist, high butter and milk prices could spell bigger problems for dairy down the road.

Milk Prices Sizzle to Kick Off the First Day of Summer

21:12 | 23/06/2022

It was a mixed bag in the CME Dairy Product Auction on Tuesday. Block cheese fell 4.50 cents to $2.10/lb. Barrel cheese added 1.25 cents to $2.17/lb. Butter fell 1 penny to $2.93/lb. NFDM was up 1 penny to $1.81/lb. Whey remained unchanged at $0.5075/lb.