- Spot cheese prices started the week off with an increase. CME blocks lifted to $1.8750 per pound, up a penny, with four lots traded. Barrels rose to $1.9250 per pound, tacking on $0.0125, with two loads exchanged. Meanwhile, butter prices held steady at $3.0750 per pound with six lots sold.
- New Zealand started its 2024-2025 production season on weak footing. June milk production declined 2.2% on a milk solid basis and -1.1% on a tonnage basis.
- Crop conditions are holding relatively steady through the dog days of summer. The corn crop was rated 67% good to excellent as of July 21, compared to 57% last year at this time. The soybean crop reached 68% rated good to excellent, well ahead of last year’s 54%.
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.
