Markets
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.
A big U.S. corn crop could further reduce feed prices.
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
Milk markets are continuing to struggle under the weight of higher production in the U.S.
Waning milk prices, persistently high feed costs, and spotty feed inventories appear to be the emerging financial story of the 2023 U.S. dairy industry.
Q2 Class III Milk futures lost about 12 cents settling to $18.52.
Spot milk prices continue to remain lower than usual since the end of last year. Many plants are not purchasing the available milk even though plant capacity is not fully utilized.
A strong week of Class III milk continued into Friday’s trade.
After a strong morning trade, the CME spot trade pushed April milk down from 19.19, below 19 and then ran to its highs of $19.48.
The recent movement of barrel cheese is similar to some previous moves over the past two years. Each time price peaked and fell faster than it increased. Will this pattern again be repeated?
April Class III milk futures were limit up. Here’s how other commodities fared.
Class III milk markets ended Monday’s trading session in a mixed fashion.
In its March World Ag Supply and Demand Estimates (WASDE) report, the USDA increased its U.S. milk production forecast for 2023. Milk price predictions, however, went in the opposite direction.
