Commentary

Friday's CME Dairy Market Recap

Friday’s spot butter settlement price was a new record high, breaking through the high set 16 years ago. The spot cheese market showed more buying strength, but we did not see much of that effect in the Class III market. FULL STORY »

DHM Numbers: Cold storage report bullish for butter

July 31 butter stocks totaled 170.2 million lbs., down 9% from June 30, and 42% less than July 2013, according to USDA’s Cold Storage report, released Aug. 22. FULL STORY »

Dairy markets: Class III futures up; butter nears all-time high

Class III milk started the day bullish and kept the theme through the entire session. Spot butter added another 6¢ to settle at $2.76/lb., within earshot of all-time highs. FULL STORY »

Thursday’s CME Dairy Market Recap

The cash cheese market was quiet, but futures put together a massive rally after the close. The October contract settled up the limit (UP 0.75), and Nov – Jun 2015 contracts were 5 to 56 cents higher. FULL STORY »

2014 dairy cow culling slips 200,000 behind last year

Despite high beef prices, the number of U.S. dairy cows culled for slaughter under federal inspection fell further behind last year – no matter how you count it. FULL STORY »

Dairy markets: Today's milk already sold

After opening as much as 30¢ lower yesterday on the heels of a bearish milk production estimate, nearby Class III futures powered back to unchanged ahead of spot, and then turned positive with another round of spot bidding. FULL STORY »

Wednesday's CME Dairy Market Recap

Wednesday’s spot cheese market provided a shot in the arm for front months in cheese and Class III futures, but the deferred months showed some weakness. FULL STORY »

DHM Numbers: September Class I base slightly lower

The September 2014 federal order milk marketing order Class I base milk price is $23.63/cwt., down 24¢ from August 2014, but still $4.47 more than September 2013. FULL STORY »

Cropp: August dairy situation and outlook

Milk production is picking up, as dairy producers add cows and feed for higher production per cow. FULL STORY »

Dairy markets: Milk production jumps

The massive gain in milk production reported by USDA after the close yesterday pushed prices below settlement levels, indicating some weakness likely to start today’s session. FULL STORY »

Tuesday’s CME Dairy Market Recap

Tuesday’s Class III market opened lower, but after seeing higher cheese prices at the GDT auction and a return of buyers to the CME spot cheese market, the trend was reversed. FULL STORY »

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