NZ's Fonterra cuts milk collection, price outlook for 2022/23
21:55 | 27/02/2023
New Zealand's Fonterra Co-operative Group Ltd on Friday slashed its farmgate milk price range forecast for the third time, and lowered its milk collection outlook for the 2022/23 season on account of softening demand and adverse weather conditions, reported Reuters.
Milk Prices Expected to Fall in 2023
11:24 | 20/01/2023
Record milk prices experienced in 2022 likely won’t carry over into 2023. That’s according to the economics unit with the National Milk Producers Federation (NMPF) and the U.S. Dairy Exports Council. However, they say exports are still on track to increase and they expect demand will likely be resilient.
Milk Prices May Be Lower Next Year
17:02 | 18/12/2022
The market is now headed into a period when much of the holiday demand for dairy products has been met with fill-in orders still needing to be taken care of as those orders are placed. But time is running out and much of what will take place is taking care of regular demand as we move forward. We will continue to see some volatility but much of the volatility might be more evident in butter. With good demand, lower inventory, and strong exports, volatility will abound but may at lower levels than it had been during the Fall.
Milk Prices Tank Ahead of Thanksgiving
15:32 | 27/11/2022
Dairy Markets tumbled into the Thanksgiving Holiday and struggled to find a buyer. As we wrap up the short holiday trading week, Class III milk lost big. November Class III milk gained a penny to $21.04, but December fell 69 cents to $20.31/cwt. January followed, losing 38 cents to $20.06 with the balance of 2023 falling 5-18 cents.
Stock Market Shoots Up, Milk Prices Not-So-Much
21:51 | 30/10/2022
Friday markets were quiet as we head into the weekend. As the DOW Jones had a big day, gaining back over 800 points and Crude Oil moved back over $88/barrel, back to levels pushing towards early October highs. Grain markets finished mixed with Soybean meal leading the way, gaining $10 to $425.40/ton, but corn slid 1 ½ cent to $6.80 ¾ and soybeans finishing the week at $13.87 3/4/bu.
Dairy prices rise, volumes fall at auction - GDT events
22:14 | 21/09/2022
The GDT Price Index gained 2%
High Milk Prices May Impact Demand
22:13 | 21/09/2022
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.
Milk Prices Back in the $20s
21:33 | 10/08/2022
Tuesday’s CME spot dairy product auction was a mixed bag. Block cheese gained 3.50 cents to $1.82/lb. Barrel cheese rallied 8.50 cents to $1.88/lb. Butter fell 1.50 cents to $2.96/lb. NFDM dropped 2.25 cents to $1.46/lb. Whey gained 1 penny to $0.4450/lb.
Milk Prices Gain Momentum
10:37 | 30/07/2022
Dairy markets found some strength in the Class III space to wrap up the week. August rose 24 cents to $20.37/cwt. September led the charge higher adding 48 cents while Q4 2022 ranged from 31-38 cents stronger. Q1 2023 was up double digits as well. Class IV markets declined in the Q4 period 9-20 cents/cwt.
Butter Storage Stocks Drop Lower
10:23 | 23/07/2022
Friday’s milk market again saw softness in the spot trade and futures in anticipation of cold storage report from USDA. June’s cold storage had US butter inventories totaling 332 million lbs. This is a growth of 10 million lbs from May and was larger than our 5 year average change month over month – we average a decrease of 1.1 Million lbs. We estimate to have 54 days of butter currently in storage versus the average of 63 days.
