While the calendar flipped to 2024 weeks ago, there has been little change in dairy market sentiment since the beginning of this year. Globally, the industry continues to walk a tightrope of limited ‘new’ milk.
Recently, the USDA lowered its milk production forecast for 2024 due to lower expected output per cow, which is partly offset by higher cow inventories.
The hope is that depressed milk prices will be short lived. However, without a significant increase in demand or tighter milk supply or both, low prices may be with us for a longer duration.
Just how low will milk prices go? Slower exports, weaker demand and global inflation have all been an anchor on the potential for higher dairy product prices. Will we finally start to see some relief in 2024?
Launched in 2003, the Cooperatives Working Together (CWT) program is designed to promote the sale of U.S. dairy products to oversee customers and a program that NMPF says moves a billion lbs. of product annually.
Emma Kuball, a 19-year-old college student from Waterville, Minnesota, representing Rice County, was crowned the 70th Princess Kay of the Milky Way in an evening ceremony Aug. 23 at the Minnesota State Fairgrounds.
A few things you can count on if you make your way to Des Moines, Iowa for the Iowa State Fair—corn dogs, livestock shows and the iconic Iowa State Fair butter cow.
Dairy markets continue to be in peril. On the CME Dairy Spot Call, the block-barrel spread shrunk some more as barrels came down over 3 cents while blocks were the same.
Volatility continues to run rampant through commodity markets. Rains in the Midwest have given dairy producers a breather on the run for higher corn and soybean meal prices, but it also fizzles out the support in milk.
With much of the Upper Midwest processing capacity maxed out in terms of milk production, finding a new home for milk is not an easy task. This is causing dairy farms to dump milk due to the oversupply.
Recently, NMPF president and CEO, Jim Mulhern, spoke to AgriTalk’s host, Chip Flory, about federal milk marketing orders. NMPF has requested a national hearing to amend five pricing provisions under the FMMO.
Buckingham Palace recently announced that the Coronation of His Majesty the King will take place this coming Saturday, May 6. As a result, there is an expected surge in both dairy and meat sales in the United Kingdom.
The 2023 calendar year is off to a fast start and 90 days into the New Year leading economists say that milk production has been weaker than anticipated.
One reason dairy exports showcased record values in 2022 and overcome hefty challenges like inflations and supply chain hiccups was because of the steadfast passion and commitment backed behind it.
While the NCAA rules regarding the NCAA name, image, and likeness (NIL) policies have caused a controversy, this monumental shift presents an incredible opportunity for brands to target a wide demographic of consumers.
Despite challenges, U.S. dairy exports set new volume and value records again in 2022. Export volume in 2022 reached an all-time high. Following suite, export value finished the year up 25% to $9.6 billion.
President and CEO of the U.S. Dairy Export Council (USDEC), Krysta Harden shares that even through the toughest of times, U.S. dairy exports grew, and she believes that number will continue to rise.
At a moment when U.S. dairy exports are increasing, the light shines big on the United States, as it was announced the International Dairy Federation (IDF) World Dairy Summit will be held in Chicago Oct. 16-19, 2023.
The consumer no longer can absorb higher costs. Tanner Ehmke with CoBank says that lighter foot traffic is seen in some grocery stores, while discount retailers have seen a significant increase in foot traffic.
Connecting dairy’s story and products with consumers is a key ingredient when partnering with retail stores. Midwest Dairy was recognized for its efforts in this area by a leading Midwest retailer earlier this fall.
DMI is modernizing the checkoff strategy with a fresh organizational structure and a new three-year plan and budget that delivers immediate results and lays ground for long-term benefits for farmers and importers.
As the monetary worth of milk fat grows, so does the pay price for the per hundredweight of milk. But what number is more important for a dairy farm’s income – milk fat percentage or milk yield?
Butter prices currently are near all-time highs, so it might seem an unlikely time for a butter-consuming craze to be lighting up social media. But that’s exactly what is happening with the advent of butter boards.
National Dairy Checkoff marketing strategy took a 180 turn about 15 years ago, and partnering with companies like these have played a crucial role in building the demand for dairy products.
Cheese and butter prices continue to hold a large price difference with butter around $1.00 higher than cheese. One reason for this is the substantial difference in inventory levels between cheese and butter.