Daily Reports

Cheese edges higher on CME

Class III futures closed out Friday quietly with only 884 trades taking place, a decrease of nearly 700 contracts from Thursday. Price changes ranged from a gain of six cents in March12 to a loss of six for the May12 contract. Class III prices rebounded strongly on the week, though, highlighted by a 75-cent gain in the March to May pack, from Monday’s $14.54 to $15.29. FULL STORY »

Block cheese unchanged at $1.485 on CME

Class III futures continued their bounce upward again yesterday. Spot pricing was unchanged with only unanswered, lower bids, in both blocks and barrels. FULL STORY »

Spot cheese edges higher; Class III posts fiery rally

The price volatility certainly didn’t come to an end during yesterday’s session, but by the end of the day prices didn’t see as large of a change in nearby months as it had over the past three sessions. FULL STORY »

Class III futures rebound

We certainly can’t say the Class III market recovered as expected yesterday because little of the price movement over the past three sessions has been expected, but the market did seem overdone to the downside Monday. I’m sure we, like many other market participants, were again surprised yesterday this time by the size of the price gains that was seen on Class III futures. FULL STORY »

Class III succumbs to sell pressure, aligns with spot

Class III prices got pummeled Monday on heavy volume. Over 2,400 contract traded hands, as what started as a steady to slightly lower day turned quickly turned into producer panic and vigorous speculative selling. FULL STORY »

Nearby Class III market hammered lower Friday

Class III futures moved beyond recent support and fell hard on Friday, based primarily on a resurgence of cheese offers in Chicago. FULL STORY »

Dairy complex starts March on firm note

Class III started the month of March on firm footing, with April through December finishing between 3 and11 cents higher on volume of 1,178 contracts trading hands. Though short-term technical have been — and continue — to show the potential for more futures prices strength, Class III’s resilient price action amid continued bearish fundamental news is somewhat surprising. FULL STORY »

Spot cheese prices rise on CME

Block cheese saw its biggest daily price increase since Jan. 4. Barrel cheese saw its biggest daily price increase since last Nov. 15; spot butter also increased. Holiday and March Madness demand is here. And, although it might be short-lived, we are getting a bounce. FULL STORY »

Class III weak in face of cheese and dry whey buy interest

A near exact reversal of Monday’s activity occurred in Class III futures Tuesday. In spite of stronger whey prices and even higher spot market prices the Class III market finished mostly unchanged to slightly lower. FULL STORY »

Slow, short-term bottom being formed for Class III

The trend remains the same, as abundant milk production with a lack of offsetting demand increases continues to hang over the market.....Very short term, we lean toward some more weakness perhaps. But it does feel as though we are rounding out a bottom which, come April or May, could explode to the upside if we get any weather challenges at all. FULL STORY »

Class III selling slows, but downtrend still intact

The Class III market traded slightly lower on moderate volume really throughout the duration of Wednesday’s session. Slightly lower prices during the spot session as both the blocks and barrels closed lower by ½ a cent each with an offer remaining assured that prices would remain softer and that they did. FULL STORY »

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