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Dairy markets: Spot market shrugs off GDT declines

Class III and Cheese futures shrugged off another lower GDT auction (down 5.9% overall) and probed to the upside yesterday. Class IV futures took a hit yesterday, courtesy of a sharply lower NFDM trade.

Markets

Week in Review: June 'order' prices mixed

The impact of weakening nonfat dry milk prices showed up in federal and California order minimum milk prices for June. Also, global food prices fell to their lowest level since September 2009, with dairy helping lead the decline.

Markets

USDA reports support higher corn, soybean prices

While considerable uncertainty will persist for the next three months, today's USDA Grain Stocks and Acreage reports substantially increase the odds the average farm price for corn will be above $4.00/bushel for the 2015-16 marketing year, according to Darrel Good, University of Illinois Department of Agricultural and Consumer Economics.

Markets

May alfalfa hay prices higher; harvest acreage forecast slightly lower

USDA estimated the May 2015 U.S. average price paid to alfalfa hay producers at the farm level was $192/ton, up $8 from April, but still $33 less than a year earlier. According to USDA’s Acreage report, U.S. producers intend to harvest 18.3 million acres of alfalfa and alfalfa mixture dry hay in 2015, down less than 1% from 2014.

Markets

Dairy markets: June Dairy Month ending weaker

While dairy prices trend lower, the grain markets surged higher amid concerns surrounding crop conditions due to continuing rains across the Corn Belt. USDA’s Grain Stocks and Planted Acreage data will be released on Tuesday.

Markets

Dairy markets: Western heat forecast

Despite a weaker open yesterday, Class III and Cheese futures turned positive throughout the day. Mounting chatter around hot weather forecast for the Western U.S. this weekend likely stunted some of the sell side activity, providing mild buoyancy to deferred contracts.

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