Spot cheese continued to rebound today, with both blocks and barrels up into the $1.70s. That helped Q2 Class III price continue its climb, too, closing just shy of the $18.00-mark. Please remember that tomorrow (Friday, March 14) is the last day for Q2 DRP coverage, with all paperwork to be signed by Sunday morning. Premiums costs are inexpensive, so reach out to your agent if you need any final coverage.
Today’s Highlights from Ever.Ag’s Know Your Markets
- CME cheese markets moved upward. Spot blocks climbed to $1.7350 per pound, up 3 cents, and barrels closed at $1.7300, 6 cents higher. Seven lots of blocks and four lots of barrels traded. Spot butter held at $2.3400 per pound with zero lots trading. NDM was also unchanged at $1.1600 per pound with no lots trading. Dry whey fell $0.0225 to $0.4575 per pound with three lots exchanged.
- Dairy cow slaughter remains below year-ago levels, with 56,100 head culled the week ending March 1. That was down 6.2% from Week 9 in 2024. Dairy cattle slaughter was up slightly in the Northwest (+2.6%) and Mid-Atlantic (+2.5%) regions but was down significantly in the West (-20.1%) and Midwest (-8.3%). Over the past four weeks, weekly slaughter averaged 54,300 head, down 9.9% from the same period last year.
- The cream market got a little tighter in the Midwest and Northeast as spring holiday demand approaches. USDA reports multiples in the Midwest at 105, up slightly from 104 last week. In the Northeast, it climbed to 110, up from 103 the week before. Both regions remain notably below last year and the five-year averages.
Ever.Ag - The risk of loss trading commodity futures and options can be substantial. Investors should carefully consider the inherent risks in light of their financial condition. The information contained herein has been obtained from sources to be reliable, however, no independent verification has been made. The information contained herein is strictly the opinion of its author and not necessarily of Ever.Ag and is intended to be a solicitation. Past performance is not indicative of future results.
