Milk Prices
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
DMC payments will be hitting producers’ mailboxes once again. But will this be 2023’s last “big” payment?
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.
The dairy economy is in rough shape. This is what Ken Bailey shared at the Dairy Financial and Risk Management Conference. He said that higher prices will come when domestic and global demand resurges in 2025.
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.
At the farmgate, recent milk checks have been downright ugly for many producers across the U.S., with revenues well below production costs in a challenging year. But what’s ahead for the remainder of 2023?
Weakening demand for dairy in Brazil shuts door on Uruguayan exporters.
The Milk Business Conference in Las Vegas Nov. 28-30, highlights every corner of the dairy industry and has a great line-up of speakers to help producers capitalize on and further develop their strengths. Sign up today.
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.
Economic issues and demographic changes don’t bode well for Global dairy demand.
USDA cold storage completed a quiet but softer dairy trade day.
The July 2023 USDA Milk Production report spotlighted difficult conditions in the Southwest and California. The report showed a 0.6% decrease in year-over-year milk production. Cow numbers also dropped year-over-year.
CME futures prices rallied following USDA’s report. September closed 39 cents higher while October was up 22.
August milk prices will be much better than July, but still far from where we would like them to be. Here’s what to expect in the coming months.
After a long stretch of low milk prices, the USDA has raised the 2023 all-milk price projection for the first time in months.
Butter had 49 loads trading hands on the CME spot trade. Here’s what that meant for dairy prices.
Class III milk prices retreated a bit as September 2023 milk lost 15 cents, October dropped 16 cents, November weakened 21, and December was off 13.
Dairy producers and industry professionals who register before Sept. 30th for the Milk Business Conference will earn a chance to win three concert tickets to see Garth Brooks live in concert at Caesar’s Palace on Dec. 1.
The state of U.S. dairy industry in 2023 may later be recalled as the year of “the correction,” “the valley,” or “the crash,” as milk prices have plummeted by as much as half from record-setting highs in 2022.
As we move into the end of summer and look ahead to cooler temperatures of fall, most of our commodities have settled in to a tight range.
Class III milk markets were able to return some of the value lost late last week.
The seasonal decrease of milk production, higher culling, and inventory of cheese not exceeding the levels of last year, may increase buyer interest on the spot market as they look ahead to later demand.
For the first half of the year, nearly $612 million in government payments have been issued, a vastly different picture compared to last year.