Milk Prices
Some processors have been forced to dump milk as of late amid oversupply and milk prices plummeting.
July faltered 49 cents, August 45 cents, and September was down 37.
After hearing reports of milk being dumped due to the surplus of milk on the market, the recent USDA Milk Production report wasn’t surprising. The May report documented a 0.6% increase over a year prior.
Last year’s record milk price year fueled producers to strategically plan how to utilize the extra income from strong milk prices. Now many producers are wondering what has changed to wildly swing milk prices.
DFA decided to withdraw its membership from the IDFA over IDFA’s decision to proceed with its single-issued petition to modify the federal milk marketing order (FMMO) system.
Ben Laine shares we would need a big demand surge to see a significant increase in prices. He also adds that June is likely to be the bottom of prices, although he remains cautious for the second half of 2023.
Milk prices have fallen substantially from the record prices dairy producers saw in 2022.
The sideways price range of butter has been able to hold Class IV prices and futures at a better level than Class III.
Summer milk prices continue to see a slump. Here’s where the markets landed today.
Lower milk prices seem to be the trend for 2023. And, unfortunately, it appears to be one farmers will continue to face going into 2024.
An abundance of whole and skim milk continues to be dumped in the Upper Midwest and Northeast regions.
School milk remains an important part of the Class I market, especially as overall milk consumption declines.
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.
USDA will soon decide whether to hold a formal hearing and propose changes to dairy’s minimum pricing system, which would then require a vote from dairy farmers.
The USDA’s Agricultural Marketing Services (AMS) has announced that the formal process of modernizing Federal Milk Marketing Orders (FMMO) is now officially underway.
Milk markets bled into the weekend after failing to put together two days in a row of a positive move in Cheese.
An ongoing march to pay farm workers more continues to unfold in the state of New York as agriculture labor regulations have drastically changed. From farm owners to farm workers, this has all led to confusion.
The ongoing milk price rollercoaster that seems to be on a downward track has once again forced a Dairy Margin Coverage payment to be issued in 2023. The DMC income over feed costs for April is $5.84/cwt.
It appears June Class III milk could be below $16.00 and back to the lowest level since August 2021.
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.
Dairy producers have adjusted to uncertainties that face them such as rising feed costs, ongoing labor challenges and navigating a pandemic and its ripple effect. Three producers share how they tackle uncertainties.
Tucked in the rolling hills of a quaint New England town, Fairholm Farm in Woodstock, Ct., a century-old farm’s recipe for success also includes technology and securing additional profit sources.
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.
The USDA Milk Production report for April showed a 0.3% increase. Phil Plourd says that on-farm margins have deteriorated to a degree that, historically, corresponds with less milk production or at least slower growth.
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.
Recently, NMPF president and CEO, Jim Mulhern, spoke to AgriTalk’s host, Chip Flory, about federal milk marketing orders. NMPF has requested a national hearing to amend five pricing provisions under the FMMO.