Daily Reports

Light trading as market waits on news

The dairy complex traded lighter volume across the board as market participants seem to be generally content with the current pricing on one hand and waiting for the slew of news to come on the other. Fonterra’s Global Dairy Trade (GDT) auction results will be announced this morning and the April USDA milk production report is slated to be released this afternoon. We look for more of mixed trade for GDT and only a moderate 2 percent growth in milk production in the United States. While direction may be difficult to decipher this morning, we are confident that will change over the coming days. FULL STORY »

Class III and butter mixed on Friday, top still in place

Following two days of consecutive booming trade volumes, the Class III market once again returned to a lull, only 486 contracts traded last Friday to conclude a declining price week. The June-December pack closed at $17.41 vs. $17.57 the preceding week. Not only was milk volume lethargic but also spot volumes backed off to just 12 total cheese loads for the week. Prices there declined as well but modestly so; 2.5 cents in the blocks and 1.75 cents in the barrels. FULL STORY »

Class III rebounds, butter under pressure

A day after a market price collapse, spot prices were steady for blocks and only a half cent lower for barrels. This gave the market the confidence it needed to rally back and hard. We attributed the sell off from Wednesday to two factors; 1) CME stock revisions 2) outside market weakness. Following outside market influences occurred for a second day yesterday as prices for “things” fell and rallied back in most markets, dairy included. FULL STORY »

Dairy futures collapse on found butter

Class III got started lower right from the start this morning pulled down mostly by collapsing outside markets. The butter stocks revision was one thing that caused prices there to fall the limit and NFDM revisions caused the bids to practically disappear from early this morning. When the grain report was bearish, class III started to move lower falling 10 to 25 cents early before the spot session. FULL STORY »

Widespread commodity sell-off, U.S. dollar skyward

It was a day of removing risk, seemingly form every portfolio on Earth; dairy did not go completely unscathed. The market opened weak and, despite modestly rising cheese prices, futures remained weak into the close. Corn weighed on dairy prices, so did the increasing U.S. dollar value which had its single biggest one-day price increase in over six months. FULL STORY »

Spot buying interest didn’t translate to futures yesterday

Class III futures traded mostly lower giving up part of Monday’s gains during a quiet, low volume trading session Tuesday. With the substantial price premiums built into the forward Class III curve, even a firm CME spot cheese session — 11 bids in blocks remained — and firming dry whey prices weren’t enough to inspire further futures gains. Slightly over-bought conditions and quiet outside news made for more of a consolidation trade, which can be expected to extend into early trade here today. FULL STORY »

April showers bring May.... planting weather?

Announced pricing from last week saw the Class III price in April announced at $16.87, a decrease of $2.53 from March. The milk-feed ratio was 1.84, the lowest since August of 2009. The all-milk price was $19.70, a decrease of 70 cents from March. Income-over feed costs were 8.99, a decrease of 1.88 from March. FULL STORY »

Cheese and butter continue to diverge, grains plunge

Class III futures started on a mostly firm note Thursday on light follow-through technical buying and expectations of more CME cheese price strength, but quickly lost footing after a cheese made its way back to the CME during the spot session. FULL STORY »

Markets: Will there be a post-Easter slowdown?

The USDA’s Cold Storage report Thursday was neutral for butter, but bullish for American cheese. Not since 2004 have we seen American cheese inventories drop in the month of March when storage fell by 2.2 percent -ck to and we all remember what happened that year. But before we look at this rare occurrence of moving cheese out of warehouses in the month of March as predicting another 2004, the USDA also showed a decline of 1.5 percent in American cheese inventories in March of 2003. FULL STORY »

Cold storage report ‘bullish’ for American cheese

Not since 2004 have we seen American cheese inventories drop in the month of March when storage fell by 2.2 percent — and we all remember what happened that year. But before we look at this rare occurrence of moving cheese out of warehouses in the month of March as predicting another 2004, the USDA also showed a decline of 1.5 percent in American cheese inventories in March of 2003. In other words, this report may be a sheep in wolf’s clothing for market bulls. FULL STORY »

Block cheese loses 2 cents, ends at $1.60

Despite a weaker CME spot cheese session, Class III prices got a slight boost Thursday from continued strength in butter, powder and Class IV markets. But the trade was a reluctant follower, at best, as indicated by volume. FULL STORY »

Prev 11 12 13 14 15 16 17 18 19 20 Next

Kuhn VB Round Balers

Field performance, bale quality and bale density are fundamental to the profitability of every baling operation. Kuhn VB round balers ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Leads to Insight