Milk Prices
The American Rescue Plan act was announced by the USDA Wednesday.
The CME spot dairy auction turned in an even to stronger session to kick off this week.
A mixed day Friday to finish a mixed week in the Dairy Markets.
Butter inventories came in at 328 million lbs. in January, up 55 million from December.
The CME spot dairy auction kicked off this week in a mixed fashion.
Fluid milk sales fared well last year showing only a slight decline. This was more than made up for with strong cheese and yogurt sales as well as other products.
A softer CME spot dairy auction led to a step back in milk price on Thursday.
Markets took a bit of a nap following a day off for President’s Day.
After trading limit up during Thursday’s trading session, Class III prices on Friday took back some of those gains.
Cheese inventory increasing at the end of 2020 may not be a good sign as the market is moving through a slower demand period of time.
Despite spot cheese moving higher, Class III futures sold off.
As the snow blows into the Midwest, dairy has another quiet day but shows some green.
Barrels were the lone product to claw higher in the CME Cash Dairy Product Trade
Major dairy exporting regions show positive milk production growth in 2020.
Dairy markets ended in the green on Tuesday after a positive Global Dairy Trade (GDT) event as well as a stronger CME spot dairy auction.
Butter continues its struggle, hits a new low.
Farmers across the country are being asked to dump their milk, as food service demand crumbled rapidly due to COVID-19. Still, farmers are frustrated that consumers can’t buy as much milk as they want right now.
Class III futures traded quietly for the second day in a row.
Class IV traded 30-35 cents lower in the second quarter of 2021.
Both cold storage and milk production were released Monday.
The dairy market failed to get cheese to follow through on last week’s gains and gave back some of the late-week rally.
Last year was the most volatile year on record when it comes to milk prices.
A move lower in cheese on Friday was ignored by the Class III milk markets.
Volatility continues to dominate the markets in both the dairy and grain complex.
Tuesday’s trading session proved to be a tough day for unhedged dairy producers.
Class III futures ended the day mixed after showing initial strength mid-morning.
This week, USDA released the Dairy Products report for November.
Cheese values continued their ascent higher on Thursday following Monday’s announcement of the extension to a fifth round of the food box program.