Markets
CME product markets on Monday tilted to the negative side to kick off the week.
In its December World Ag Supply and Demand Estimates (WASDE) report, the USDA once again lowered its milk production and price forecasts for 2023.
Dairy markets on Monday put forth a relatively uneventful trade.
With sufficient supply and much of the holiday buying being finished, there is little reason for buyers to be aggressive. The usual slower demand period is just around the corner.
Demand for high-protein whey products appear to be lifting the whey complex.
Ahead of Monday afternoon’s USDA Milk Production report, Class III milk futures struggled once again.
Class III milk futures took it on the chin Thursday and gave up early in the week gains.
Lower milk production was forecasted for both 2023 and 2024. What could that spell for dairy prices?
Price movement in butter over the past 2 1/2 months has been a sight to behold.
Time is running out for a historical seasonal price increase for cheese.
Dairy markets explode higher Wednesday as we had nearly every product see green on the CME spot trade.
Dairy farmers have recently turned their focus to the higher cheese and butter prices seen in the market. At the same time, dry whey prices have also silently moved higher, supporting Class III milk prices.
Milk markets were mostly unchanged on Monday heading into the holiday season.
Class III milk was mixed with October down 9 cents to $16.84, and November up 11 to $17.41, and December down a penny to $17.59/cwt.
While the all-milk price for 2023 and 2024 saw a nice boost, Class III milk price futures continue to stumble. Will Class IV be dairy’s biggest bright spot?
Wednesday markets may lull us to sleep. After a strong couples in butter, we have treaded water the last few sessions at current level.
The holiday butter rally is underway, and it may even be a little early.
Class III milk saw November futures rise 14 cents to $17.50/cwt.
Shellshocked buyers push butter prices to new heights ahead of the holidays
Butter and springer prices caught the dairy industry by surprise in late September.
Many milk checks fall well short of covering even the cost of production.
The markets are always filled with surprises and this year has been no exception. Butter prices have reached new highs while dry whey and nonfat dry milk markets have remained flat.
Butter stocks shrank to 289 million pounds, down 40.3 million pounds from July.
Seasonal buying is taking place, but sellers continue to offer product on the spot market leaving buyers unaggressive.
Higher milk prices may not necessarily mean greater income depending on feed prices. The recent hot weather has had an impact on milk production, but it also may have had an impact on crop yields.
Softness in the block cheese market put a damper on early strength in Class III on Friday.
Dairy industry leaders say there are hopeful signs that the milk price situation may improve.
Dairy Markets enjoyed a positive today for Class III and a negative day for Class IV.
A strong finish for Class III milk even though Cheese was sideways.