USDA Lowers 2023 All-Milk Price Forecast, Milk Production Estimates Remain the Same
20:25 | 31/07/2023
The saga of lower milk prices is forecasted to continue for dairy farmers as the USDA once again cut 2023 all-milk price projections in its July World Ag Supply and Demand Estimates (WASDE) report.
Milk Markets Can't Stop the Bleeding
21:43 | 05/06/2023
Milk markets bled into the weekend after failing to put together two days in a row of a positive move in Cheese. Blocks followed up a nice jump higher on Thursday to fall back 7 ¼ cents to $1.73/lb, but Barrels gained another quarter of a cent to $1.51 1/4. Butter fell 2 cents lower to $2.44 ½. Grade A Non Fat Dry milk was unchanged at $1.17 and Dry whey also held unchanged at $0.25 3/4/lb.
USDA Drops 2023 All-Milk Price to $20.50, 2024 Predictions Fall Below $20
10:53 | 20/05/2023
Milk prices have felt pretty lackluster throughout 2023, especially as feed prices, labor costs and inflation cut deeper into producers profit margins. Unfortunately, this trend is one farmers will continue to face throughout the remainder of the year and going into 2024.
Butter Prices Rise While Cheese Prices Fall
17:12 | 07/05/2023
USDA released their monthly Dairy Products report on Friday with results showing total cheese production at 1.229 billion, down 0.2% vs. last year. American-type cheese production stood at 499 million for March, up 3.2% year-over-year. Butter totaled 205 million, 1.4% stronger compared to the year prior. Nonfat dry milk and skim milk powder production was also 0.6% higher. Dry whey lost 3.5% when compared to that same time period and came in at 73 million.
Low Milk Prices May Last Longer
17:12 | 07/05/2023
Milk futures are as bearish now as they were bullish a year ago. The attitude is completely different. The industry and traders were concerned over milk supply a year ago due to heavy culling. Now, cow numbers are at their highest level since August 2021 at 9.435 million head.
Milk Prices Headed in the Wrong Direction
23:55 | 25/04/2023
CME spot dairy auction products began the trading week on the wrong foot. Cheddar blocks lost 7 cents on offers and landed at $1.68/lb. Barrel cheese declined 2.25 cents with its settlement coming in at $1.53/lb. One load was traded. Whey suffered a 3-cent hit as 15 loads were exchanged from seller to buyer. Whey stands at $0.3325/lb. Butter and nonfat dry milk were both unchanged on Monday at $2.40/lb and $1.165/lb, respectively.
Meat, dairy prices skyrocket in Turkey - GAIN
23:44 | 25/04/2023
According to a recent USDA GAIN report, in the past year, meat and milk prices in Turkey have skyrocketed due to a variety of factors, among which are insufficient cattle inventories, high input costs, semi-effective government policies, and limitations on importing meat and live animals.
Grande Cheese Company Acquires Another Wisconsin Plant
22:35 | 02/04/2023
A manufacturer of Italian cheese, Grande Cheese Company announced earlier this week that it has acquired the former Foremost Farms cheese plant in Chilton, Wis., which will further enhance its manufacturing capabilities.
Milk Prices Sink Lower
22:05 | 09/03/2023
Grain markets led a move lower Wednesday after the USDA released its monthly World Supply and Demand Report. Corn finished with May down 8 ¾ cents to $6.25 ½, Soybeans gained 2 ¼ cents to $15.17 ¾ with soybean meal sliding $2.10 to $485.7 after trading $10 higher early in the day.
All Eyes on the Milk Price
22:02 | 09/03/2023
In mid-February, cold weather arrived in California’s San Joaquin Valley just in time for the World Ag Expo to kick off, one of the largest agricultural expositions in the world. While Tulare was hit with a hard freeze just as almonds began their initial bloom, the cold weather was no deterrent for tens of thousands of visitors from across the country and world who arrived at the expo grounds to see the newest equipment innovations, watch and learn at various agricultural seminars, or visit with hundreds of agricultural service providers visiting with attendees at their booths. Rabo AgriFinance was well represented at the event, meeting with clients and media to discuss the latest market outlook and other relevant trends impacting agriculture in 2023.
