Markets
Cheddar was the sole product settling in the green today, up 1.3% for Global Dairy Trade 288.
The CME spot trade saw blocks jump 8 ¾ cents higher on 2 trades to $1.71/lb and Barrels jumping 4 cents higher to $1.55/lb.
Overall demand for U.S. dairy appears headed back to pre-pandemic levels.
What can we expected for milk production and milk prices if the drought continues and corn prices move above and/or stay above $7.00 or maybe even $8.00?
The grain markets experienced a rough start to the week on Monday as weather forecasts 10-14 days out predict cooler and wetter patterns to bring relief to areas in need of some rain.
Class III milk futures finished the week trading a tight window of prices.
Class III futures were mixed today. June milk lost a dime to $17.05/cwt. July slid 18 cents to $17.44/cwt. August milk declined slightly with September and October finishing in green.
June Dairy Month brings us a CME spot trade of mostly green
There have been significant changes made in the dairy industry over the past 10 years which may have an impact on the effects of milk production due to high grain prices.
Colder temperatures across the northern states brought frost and uncertainty surrounding the severity of damage and inserted risk premium back into the market.
Blocks and barrels continued to slip lower to close out the week in the CME Cash Dairy Product Trade.
Butter melted away most of last week’s gains, falling 5.25 cents to $1.8225 per lb. in the CME Spot Dairy Auction.
Friday wrapped up a week of big swings for most commodities.
Class III gave back some of yesterday’s impressive gains.
New Zealand, Europe, and other South American countries will continue to compete for market share
Class III futures set new contract highs in second half 2021 as well as the 2022 calendar year with gains as high as 70 cents in the June contract.
Butter was the sole product to trade higher in the CME Cash Dairy Product Trade to end the week.
Milk prices have remained much more consistent in 2021 compared to 2020, but will that last during the summer months? We sit down with Mike North of Ever.ag to discuss dairy markets going into the warmer months.
Tight stocks, strong exports, and speculation sent corn prices to eight-year high in April.
Class III milk futures crashed after the move lower in spot cheese. Grains exploded higher and set new contract highs once again.
Feed costs will continue to pressure dairy Margins.
Class III milk prices ranged anywhere from even to 10 cents higher at the close following lower trade all day.
Class III milk prices moved slightly lower on the day with May down 23 cents to $18.95/cwt.
As the U.S. and the rest of the globe work towards getting back to the old normal, we are seeing demand for food increase.
The Oceania 2020/21 production season is winding down, with the peak milk output long past and winter approaching.
Do not bet the farm on speculative options to lower feed cost. In 2021, double-down on forage quality.
Milk Production for March was released by the USDA on Wednesday. Following a lackluster CME spot trade, Class III struggled to move higher.
Class III milk futures surged higher on the heels of barrel cheese.
Wholesalers and retailers in Brazil are having to cut prices to move dairy products.