January dairy CPI mostly lower

January 2015 retail dairy product prices were mostly lower compared to December 2014, but all remained higher than a year earlier, according to unadjusted monthly Consumer Price Index (CPI) data released by the Bureau of Labor Statistics (see table, below).

Overall January 2015 retail dairy product prices were -0.9% compared to December 2014, but +3.8% compared to January 2014. That compares to retail prices for all food eaten at home, which was +0.3% compared to December and +3.3% compared to the year before.

The big news in the monthly CPI report continued to be energy costs. The January 2015 energy index fell 9.7% compared to December 2014, as the gasoline index fell 18.7%, the sharpest in a series of seven consecutive monthly declines.

 

January 2015 Consumer Price Index (dairy)

 

% change from

% change from

Product

Jan. 2014

Dec. 2014

Dairy & related products

3.8

-0.9

Milk

1.1

-2.2

Fresh whole milk

2.1

-1.5

Fresh milk (other)

0.7

-2.5

Cheese

7.8

-0.5

Butter

19.5

0.8

Ice cream & related

2.0

-0.2

Other dairy & related

3.4

-0.1

All food at home

3.3

0.3

Source: Bureau of Labor Statistics

 

 

Daily CME Cash Trading: Feb. 26

 

Close

Daily change

 

($/lb.)

(¢/lb.)

Cheddar barrels

1.4850

up 0.25¢

Cheddar blocks

1.5450

no change

NFDM Grade A

1.0850

down 1.5¢

Butter Grade AA

1.6550

up 1.25¢

 

CME Class III Futures: Feb. 26

 

Close**

Change

Month

 ($/cwt.)

(¢/cwt.)

Jan. 2015 *

16.18

 

Feb.

15.49

-1

March

15.50

13

April

15.49

28

May

15.85

21

June

16.60

23

July

17.18

17

Aug.

17.59

14

Sept.

17.60

13

Oct.

17.65

11

Nov.

17.62

12

Dec.

17.33

13

2015 ave.

16.67

 

Source: CME

 

 

* Final federal order price

 

** Preliminary

 

 

 

Weekly average California NFDM price

Week ending

Avg. price ($/ lb.)

7-day sales (lb.)

Feb. 20

0.9985

13,141,466

Feb. 13

1.0112

10,750,181

Feb. 6

1.0397

7,864,339

Jan. 30

0.9676

19,829,109

Source: CDFA

 

 

 

Weekly National Dairy Product Sales Report

Week ending Feb. 21, 2015

 

 

 

 

Change from

 

Ave. price

previous week

 

($/lb.)

(¢/lb.)

Butter

1.71

1.5

Cheddar blocks

1.53

0.9

Cheddar barrels

1.53

0.3

Dry whey

0.511

-1.6

NFDM

1.02

-0.4

Source: USDA Ag Marketing Service