Milk Prices
The saga of lower milk prices is forecasted to continue for dairy farmers as the USDA once again cut 2023 all-milk price projections in its July World Ag Supply and Demand Estimates (WASDE) report.
The first half of Summer 2023 in dairy markets will be noted for breaking records, and not in a good way.
Lower prices may eventually stimulate exports. However, the current market struggles to find a bottom as supply exceeds demand.
Cheese found some life the day after the second biggest volume day of Barrels traded on the CME.
Current production levels of dairy products and plentiful milk supplies leaves buyers unconcerned over buying milk.
The USDA is being viewed as friendly to one part of the dairy market, zeroing in on cheese.
Some processors have been forced to dump milk as of late amid oversupply and milk prices plummeting.
July faltered 49 cents, August 45 cents, and September was down 37.
Milk prices have fallen substantially from the record prices dairy producers saw in 2022.
The sideways price range of butter has been able to hold Class IV prices and futures at a better level than Class III.
Summer milk prices continue to see a slump. Here’s where the markets landed today.
Lower milk prices seem to be the trend for 2023. And, unfortunately, it appears to be one farmers will continue to face going into 2024.
An abundance of whole and skim milk continues to be dumped in the Upper Midwest and Northeast regions.
Class III and IV milk markets failed to excite on Friday.
Dairy markets came to party today as positive price action for Cheddar on the GDT auction this morning helped boost an underperforming Spot Call Auction.
Milk markets bled into the weekend after failing to put together two days in a row of a positive move in Cheese.
As the calendar moves past the spring milk production peak, dairy farmer’s attention remains laser-focused on the milk price and overall margin outlook throughout the remainder of this year.
It’s not the news dairy producers want to hear, but one analyst says the outlook for milk prices according to the futures market is not very good.
Dairy product and milk prices are substantially lower than a year ago, yet this has not been reflected at the retail level. Thus, lower prices are not stimulating demand as consumers are not seeing them.
Milk markets continue to lurk in the doldrum this week. Feed and grain prices also slid lower giving dairymen a breather on fall feed prices.
Milk prices have felt pretty lackluster throughout 2023. Unfortunately, this trend is one farmers will continue to face throughout the remainder of the year and going into 2024.
Friday was not a good day for dairy markets - the roller coaster of spot trade continued lower on the trade with Cheese struggling on large volume.
Dairy markets continue to dissapoint this week as the CME Dairy Spot Call continues to see offers with a lack of bids.
Butter and nonfat dry milk rose in value while both cheese contracts and whey fell.
The CME Spot Trade was flat to negative across all commodities. Grains are having a tough go of it after China ghosted the marketplace.
Dairy products continue to be offered on the spot market even though prices are already low. Sellers seem to want to move product and limit inventory rather than maintain a higher supply for upcoming demand.
Dairy markets continued their downhill decent as we kicked off the first day of May.
The National Milk Producers Federation today submitted to USDA its comprehensive proposal for modernizing the Federal Milk Marketing Order system.
Class III milk saw it’s first green in several days