Milk Prices
The end of the year generally brings slower demand, and this year may be impacted more than usual due to higher food prices.
China has eased some COVID protocols, but that did not translate into significant news for dairy.
Ben Laine, a senior dairy analyst with Terrain, says that he expects 2023 will be deceptively steady in the sense that the U.S. will stay fairly level with current cow numbers.
Q1 Class III markets plummeted to $19.29, giving up 33 cents on the day.
Q1 Class III Futures gave up 28 cents settling in at $19.62/cwt as Q1 All-cheese futures declined almost 2 cents to $1.9943/lb.
Ever dream of having a Fairy God Mother grant you three wishes to help your dairy farm push forward? If you had three wishes for the New Year and could put anything into place on your dairy, what would it be?
Class III Milk futures have sustained their rally from the end of last week, with December settling upward 7 cents at $20.48.
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The Zisk 2023 report shows that dairy producers again expect a great year, surprisingly a little more profitable than 2022. That said not all producers will share in the success.
Dairy farmers are the real champions, as you are all a source of inspiration, showcasing anything is possible when it is combined with faith, determination and hard work.
A sideways spot trade fed the week of falling milk prices.
Wide price swings have become more frequent over the past year. These price swings have taken place over short durations as market participants have been quick to enter and exit positions.
According to the USDA Cold Storage report, U.S. butter stocks totaled 239.6 million pounds in October, down 14.1% on the year.
A dairy farmer’s worst nightmare is to open an unexpected letter in the mailbox notifying them that they are being dropped by their processor. Solid communication between the processor and the farm is essential.
Compared to last year, the 2022 herd now stands 31,000 higher.
Dairy is a historical rollercoaster with wild swings in milk prices. Tanner Ehmke says there might be some opportunities on the horizon to expand, as other dairies look to exit through the cycle of the dairy industry.
Recently, three dairy producers from coast to coast talked about the biggest, unexpected challenge that faced their dairy this year on a Farm Journal Farm County Update webinar.
With the uncertainty over milk prices and input prices, it becomes necessary to establish price floors for milk and price ceilings for feed. Not doing anything is making the decision to leave your whole farm at risk.
While the challenges ahead for dairy producers are real, the silver lining is that both global consumption for dairy is on the rise and the supply chain headaches have lightened compared to how we started 2022.
CME spot dairy index prices performed stronger on Friday as cheese led the way.
Dairy financial experts strongly encourage producers to push pause to outline the steps needed to take place in Q4 to wrap up the year on the best foot possible and help position a dairy for a successful start in 2023.
Another story that continues to unfold is the shift of herds inland. Tanner Ehmke with CoBank says this long-term trend of migration from the coastal areas to the central states where costs are lower will continue.
Despite spot cheese moving lower, class III milk futures rallied.
Prior to the release of the USDA Dairy Products report, the CME spot trade and futures kept the momentum moving higher.
Dairy products were steady to higher Thursday in the CME spot dairy product auction.
One year ago, a tornado completely devasted Wellacrest Farms, New Jersey’s largest dairy farm. Community support outpoured from a group of Amish to a GoFundMe account that helped with the rebuild.
Through this economic swing between bull and bear markets, risk management becomes paramount to negate volatility.
For the second month in a row, Dairy Margin Coverage payments will be issued. USDA’s Farm Service Agency announced that September’s DMC income over feed costs calculation to be $8.62/cwt.