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
The large decline in cow numbers and reduced milk production turned traders bullish, but that was short-lived. Will higher milk prices be delayed once again?
Another weak Class III performance was experienced on Monday following last week’s downturn in price.
Milk markets closed a very rough week in similar fashion on Friday.
There is great optimism that butter prices will be higher than cheese prices this year.
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.
Milk markets continue to widen the Class IV/III spread as Class IV holds over $20 for 2024 calendar and Class III milk bounces around.
Futures values ended up rallying 40 cents in the February contract while March and April were up 50+ cents.
Butter drove the dairy markets higher Thursday with the CME spot trade gaining 11 cents to finish at $2.68 3/4.