Commodity Markets, Prices & Futures
Use the chart below to check futures prices for commodities. Click the links for pricing on grains, livestock, milk prices, and more and stay on top of what’s going on in the markets. Cash price reflects the USDA Chicago terminal.
Latest News from Markets
It was a rough day for dairy producer margins, as milk prices came under pressure while grain prices rallied.
Milk production forecasts for 2024 and 2025 have been reduced due to lower cow inventories and slower output growth per cow, according to the latest WASDE report.
Despite the decline in CME blocks, nearby Class III contracts ticked higher. February and March futures rose to $20.92 and $20.59 per hundredweight, tacking on six and eight cents, respectively.
Momentum in Class III futures has continued to shift as several weeks of aggressive spot cheese bids and higher futures become adjusted to $1.90 cheese.
Looking back on the past year, we see price improvements in all categories.
Class III milk, which was 20 cents higher in the early trade, extended its gains for February through April.
The Class III market ended the week on a positive note, settling higher through most of the first half.
Class III futures started off the new year with a pop this morning.
On the heels of the CME cheese jump, the January Class III contract climbed to $20.43 per hundredweight, tacking on 31 cents.
Continued lower milk production could significantly change the fundamental outlook of the market. However, the current milk supply is sufficient, leaving buyers comfortable with the current supplies. Dairy cattle slaughter continues to decline.