Milk Prices
Class III milk futures hold steady in September, but October and November prices fall flat.
The U.S. lost 6% of its dairy farms in 2021 and now has fewer than 30,000 farms. According to Oregon Dairy Farmers Association, as of January 1, the Beaver State has 171 Grade A licensed dairy farms.
The nightmare for any dairy producer is to receive notification that they are losing their milk market. Securing a new milk market at the last minute certainly is easier said than done and often turns into crisis mode.
2020 was a year like no other. Following a year dominated by Covid-19 what can dairy farming expect moving forwards?
The August Milk Production report outlines U.S. milk production is up a modest 1.6% over August 2021. Even so, cow numbers declined 11,000 head from a year ago, but increased by 8,000 head from July 2022.
Global Dairy Trade event #316 took place Tuesday. The index settled 2% higher for the second auction in a row.
According to the latest All-Milk price forecast, economists expect the dairy market to strengthen in the coming year.
Food prices have risen substantially causing consumers to look for ways to stretch their dollar. Dairy products will remain an integral part of the diet, but the volume of purchases might be reduced.
The USDA released its August Milk Production report on Monday. As expected, milk production grew, but at levels that exceeded expectations.
As consumers return to pre-pandemic habits and prices soar, demand for butter falters
The terms profitability and cash flow are often used interchangeably. However, confusion between the two can cause producers to make decisions that are not in their best long-term profit interests.
Most dairy products climbed higher Tuesday in the CME spot dairy product auction.
With the holiday baking season knocking on consumers doors, just how long will these elevated butter prices last?
Class III milk rocketed higher though September stayed unchanged at $19.79.
Members of the Grow NY Farms Coalition explained how the Farm Laborers Wage Board report downplays important testimony and data from workers, farmers and researchers from Cornell University.
The stress of owning and operating a dairy farm is enormous. And, as harvest nears, additional stress looms for many farmers. OSHA is urging employers to actively promote available resources to all workers.
Compared to a year ago, dairy product values are up considerably. Unfortunately, feed costs continue to surge upward as well.
Butter had a good day as it moves to levels we have not visited since September of 2015!
Even with strong export demand and overall domestic demand holding well, there is still too much cheese.
Class III milk futures ended the trading day mixed. October milk added 3 cents to $19.97/cwt. November milk fell 9 cents to $20.60/cwt.
Futures markets added 16 to 45 cents in the 2022 months while 2023 saw Q1 gain 23-30 cents.
A ho-hum spot trade continue to cause milk prices to erode lower.
If it’s possible to have a global milk production recession, that is, back-to-back quarterly year-over-year decreases in milk production in the key export regions – then we’ve been in one since Q1 2022.
Class III markets declined 32-45 cents/cwt September through December 2022.
Factors influencing the markets have changed over the years which has had an impact on market seasonality.
Making a big investment on a farm takes a lot of consideration. Often, owners meet with outside team members to help brainstorm and think through this process. The same holds true when producers look to purchase robots.
A big opportunity for forward-thinking, elite businesses is to attend the 20th Anniversary of the Milk Business Conference at the Paris Casino & Hotel in Las Vegas December 13-15, 2022.
An often-over-looked expense is having excess corn silage inventory. The decision has to be made soon, when you are chopping—to sell it or use it on the farm.
Class III milk futures climbed higher on the day. August milk gained 14 cents to $20.09/cwt. September milk surged 54 cents to $19.94/cwt.
Class IV lost significantly more value on Monday as September was off 77 cents, October lost 57, November declined 79 cents, and December lost 40.