Global dairy prices rose to a 2-1/2-month high as tightening supplies in Tuesday's auction prompted more buying, lifting prices further away from a 12-1/2-year low hit last month. The benchmark GlobalDairy Trade (GDT) price index climbed 10.9 percent at fortnightly auctions held on Tuesday by New Zealand dairy exporter Fonterra, adding to its recovery from its weakest level seen since November 2002 hit in August. Prices have started to perk up since Fonterra, the world's largest dairy exporter, began reducing the amount of commodity dairy products it offers at the auctions from late last month, following a sharp drop in prices in the past year.
The United States saw a huge average fall this week for retail gasoline prices, falling 13 cents to $2.41 this week, bringing the 27-day average price to $2.53. The Midwest region saw the largest fall this week of 19 cents to $2.43, while the Rocky Mountain region saw the smallest decrease of only five cents. The Gulf Coast still has the lowest gas prices in the country at $2.19.
Ohio's gas prices fell 30 cents this week to $2.35, while Minnesota dropped 22 cents to $2.42. The lowest gas prices are in Texas at $2.21.
Dairy margins were mixed over the last two weeks of August, weakening slightly in nearby periods while strengthening in the first half of 2016, according to the latest CIH Margin Watch report from Commodity & Ingredient Hedging, LLC.
“Dairy in our DNA” is the theme of the 2015 World Dairy Expo, set for Sept. 29-Oct. 3, in Madison, Wis. In preparation for this year's event, Dairy Herd Management provides a daily “Dairy Expo Countdown” feature during September. Today: Youth contests & activities
By Barry Dye, dairy nutritionist, Purina Animal Nutrition
Driven by a goal of facility expansion and improved production, the Bentleys knew increasing milk production was essential to their future success, especially with a new generation joining the family business.