Milk - General
CME barrels plunged even further off recent all-time highs, ending today at $2.4275 per pound, $0.1175 lower.
Taking a look at the current national dairy supplies, one USDA economist says supplies remain relatively tight amid strong demand. Plus, how a community is coming together after a massive fire over the weekend at one of Ohio’s largest dairy farms.
Futures followed spot prices lower today, with Q4 Class III prices settling at $22.45 per hundredweight, 45 cents lower.
The European Commission launched a challenge at the World Trade Organization (WTO) on Monday against China’s investigation into EU dairy products, initiated after the European Union placed import tariffs on Chinese electric vehicles.
Friday’s Milk Production report, which showed there was more milk in August than expected, had a bearish effect on spot blocks and butter.
Understanding the economics of management practice adoption can make it easier to make adoption decisions.
The latest USDA Milk Production report for August illustrated an increase of 0.1% from the year prior. Despite this slight uptick, the dairy industry landscape presents a mixed bag as we move into September.
August milk production was down less-than expected, slipping 0.1% year-over-year.
Spot butter dropped below the $3-per-pound mark for the first time since May.
Earlier this year, the McCartys took a significant step in expanding their community engagement with the establishment of the Judy McCarty Dairy Learning Center. This nonprofit educational facility offers visitors an immersive farm experience, providing visitors with an up close look at life on the farm
It’s estimated Americans are now eating 42 lbs. per capita of cheese annually – more than double since the government started keeping track back in 1975.
Barrels continued to rise, reaching $2.6225 per pound and tacking on 5.75 cents to set yet another record-high price.
Supply concerns and rising global prices continued to drive CME barrels higher.
Seasonal demand is providing support to the market. This support may continue for a time as supply has tightened and demand is improving.
Harvest is underway across much of the Midwest, with 9% of the U.S. corn crop now in the bin, ahead of the five-year average of 6%.
Hiland Dairy Foods Co. is strengthening its presence in Tyler, Texas, with a major 90,000- square-foot expansion to its current facility.
As the U.S. dairy industry continues to thrive, the critical importance of a seamless and a reliable transportation network cannot be overstated. Addressing vulnerabilities and ensuring the robustness of these transportation systems are imperative steps in sustaining the industry’s productivity.
The 2024 MILK Business Conference award winners have been revealed, and they are set to be honored at the prestigious event on December 10-11 at Caesar’s Palace in Las Vegas.
The CME barrels market didn’t show signs of slowing its ascent, adding a nickel to reach $2.4850 per pound. That’s the highest price since November 2020.
General Mills will sell its North America yogurt business to French dairy firms Groupe Lactalis and Sodiaal in a $2.1 billion deal.
EU cheese prices remain the most expensive in the global market place at $2.42 per pound,
CME cheese jumped to prices not seen since May 2022.
Producers who begin planning for 2025 early will have a competitive advantage over those who don’t. Now is the time to learn the financial pulse of how your operation is performing.
CME cheese led the charge today, with blocks jumping to $2.2700 per pound, adding on four cents to reach a price not seen since June 2022.
U.S. exporters of certain cheeses and meats will continue to be able to use those terms in Chile.
Midwest spot prices are $1.75 above class, up from +$1.25 last week and well ahead of the five-year average of -$0.25 at this time
Idaho Milk Products recently announced its plans to broaden its business by constructing a $200 million dual ice cream and powder blending facility at its Jerome, Idaho campus.
The past few weeks have shown us that the markets are becoming increasingly volatile. The months of September and October will see that volatility continue. Seasonal buying has increased fueled by the potential for tighter inventory.