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Dairy markets: Butter weighs on market

The spot cheese prices both inched their way to gains following the Cold Storage report. Even with another push to the upside in the spot market, the Class III and Cheese markets couldn’t look away from the bearish side of the coin in butter. 

Markets

Dairy markets: A resilient market

Despite Class III and Cheese under pressure, a strong dollar and lack of exports, healthy seasonal milk supplies and school closings, this market has proven resilient time and time again.

Markets

Dairy markets: Pressures mounting

Class III and Cheese futures can be summed up with one word – pressure. The latest GDT auction came in 2.2% lower overall, with a sharp 7.1% downdraft for the price of cheddar. The April Milk Production report registered a 1.7% uptick. Neither one of yesterday’s events could be construed as bullish.

Markets

Dairy markets: Milk Production report due today

USDA’s monthly Milk Production report will be released today at 3 p.m. (Eastern). We are looking for a 0.6% increase year over year. If the other producing states can continue to absorb California’s production losses, we should see prices again press lower; the world market offers no bullish news.

Markets

Dairy Margin Watch: May starts flat

Dairy margins were relatively flat over the first half of May, with little change in either milk prices or feed costs since the end of April, according to the latest CIH Margin Watch report from Commodity & Ingredient Hedging, LLC.

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