Newsletter Articles
Blocks higher again; Class III price spike continued Monday
Class III futures kicked off the new week with follow-through price strength inspired primarily by Friday’s dazzling display of support in the block cheese market and downright oppressive Midwest heat. It wasn’t hot enough to keep spot buyers away again today, as multiple bids carried the price of blocks to up 6.25 cents to $2.1200 where a trade occurred and the increasing bids stopped (barrels finished unchanged with 1 trade). Futures continued the parabolic panic spike from Friday pushing between .09 and .49 cents higher by the closing bell.
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Blocks do an about-face Friday; Class III prices spike
A tighter-than-expected short-term cheese picture collided with a massive Midwest heat dome Friday to propel Class III prices skyward. Friday morning, the futures markets did little to excite anyone before the spot market. Volume was strong and prices were mixed to weaker….. then came a spot session to change all of that.
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Raw milk problems won’t go away
I know, I keep harping on raw milk to a community of veterinarians who understand food safety and foodborne illness. But it makes me shake my head in disbelief as story after story comes out about continued foodborne illness associated with raw milk from dairy farms.
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Blocks drop again – will barrels follow?
Class III traded firm out of the gate Thursday morning on follow-through buying from Wednesday’s session. As for 2011 contracts, prices traded up to levels of technical resistance (as in the case of August re-testing all-time contract highs) and psychological resistance (as in the case of September trading through $19.00) before cooling during another weak day for spot blocks.
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Commentary: Recharge your batteries
I should have been working tonight.
I had cows to milk, this commentary to write, laundry to do, animals that desperately needed practice before the upcoming fair, and many, many more chores on my to-do list for today – all of which seemed to be of extraordinary importance as I tried to speed through the day and cross items off that stupid list.
But I didn’t do any of them, at least until now at nearly midnight as I sit at the keyboard.
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Poll: Should the U.S. debt ceiling be raised?
- Yes
- No
- Not sure
- What's the debt ceiling?
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When Bernanke talks, the markets listen - but should they?
The Class III futures market got a jolt despite more declines on the spot market. The spot market continued to decline with blocks dropping 2 cents to settle at $2.0350 with eight trades and an offer left uncovered, while barrels settled at $2.1025 on no activity.
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Commentary: Importance of feeding earnestly
Food is critical to our own well-being, and to the farm animals producers raise and care for. Yet for all the criticism activists heap on livestock housing, feed is mostly an afterthought.
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Block cheese drops 4.25 cents on the CME
Continued pressure on the spot markets yesterday was the big story as the block dropped 4.25 cents on seven trades. The weekly total of 17 has already matched last week’s volume, which we have noted was the largest since the final week of April.
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Corn closes sharply higher on Tuesday
Corn futures traded sharply higher on Tuesday. Concern about hot and dry weather and supportive Supply/Demand revisions by the USDA helped support futures. Most hot and dry weather is expected in the Corn Belt through early next week.
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Block cheese down slightly; closes at $2.0975
Another flare of European financial worries and a honing in on Italy’s total debt to GDP ratio, which is second only to Greece, shot the U.S. dollar skyward Monday (and again Tuesday). The U.S. dollar posted new highs early Monday morning, which may be a shot across the bow for the dollar bears...and commodity bulls.
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- Exports: Corn plunges 52 percent
- Here is the next farm program and here’s how you work it
- Immigration bill gets Senate boost; House effort teetering
- Class III futures close down on CME
- Ag commodities were generally lower Thursday moring
- Nutrition group weighs in on aspartame in milk: It's not needed
