Markets

Markets

Weather expert predicts $6 corn

Would you believe a $6 to $7 corn price prediction? Bill Kirk, a weather statistician and owner of Weather Trends 360, asserts that corn prices could hit the $6.50 to $7 range this summer. According to his weather outlook, 2016 will mean lower yields both in the U.S. and in Brazil, reversing the current supply and demand debacle.

Industry

Global dairy markets down again

Both prices and volume were down today on the GlobalDairy Trade (GDT) auction in New Zealand, with the weighted average price down 1.4% to $2,405 per metric ton. Analysts believe prices must climb to at least $3,000/ton for a global price recovery to occur.

Markets

Class III & Class IV diverge

Class III and cheese futures traded mixed to mostly lower on Monday, with nearby contracts holding value, while deferred months continued to erode

Markets

Dunn: December dairy outlook

Pennsylvania dairy farmers saw milk income over feed costs (IOFC) decline 5% in November, with feed costs rising while milk prices held steady, according to the latest Dairy Outlook report from Jim Dunn, Penn State University dairy economist.

Markets

WASDE: 2015-16 milk production outlook cut

USDA’s December World Ag Supply & Demand Estimates report reduced 2015-2016 U.S. milk production and marketing estimates compared to a month ago. The projected all milk price was raised to $17.05-$17.15/cwt. for 2015, but lowered to $15.95-$16.75/cwt. for 2016.

Markets

Dairy market recap for Dec. 4

Pressure came to the spot market Friday, driving blocks 3.5¢ lower and barrels 2.75¢ lower, to $1.5175/lb. and $1.4850/lb., respectively. That sparked weakness in Class III and cheese futures through mid-2016.

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