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.
Could High Butter Prices Push Consumers Away?
09:28 | 02/07/2022
Butter prices have reached their highest level since September 2015, with prices topping out at $3 earlier this month. Similarly, milk prices have been strong throughout 2022 due to increased global demand, improved exports and lighter milk production. In turn, this combination has had a positive effect on dairy producers’ pocketbooks. But according to Tanner Ehmke, CoBank’s lead dairy economist, high butter and milk prices could spell bigger problems for dairy down the road.
Milk Prices Sizzle to Kick Off the First Day of Summer
21:12 | 23/06/2022
It was a mixed bag in the CME Dairy Product Auction on Tuesday. Block cheese fell 4.50 cents to $2.10/lb. Barrel cheese added 1.25 cents to $2.17/lb. Butter fell 1 penny to $2.93/lb. NFDM was up 1 penny to $1.81/lb. Whey remained unchanged at $0.5075/lb.
Will A Recession Impact Milk Prices?
10:22 | 15/06/2022
It certainly has been interesting to see the optimism that has been prevalent in Class III futures since May 23rd. Nearby contract months in futures had moved over $1.00 per cwt from low to high even though cheese prices declined. Block cheese price declined 12 1/2 cents while barrels declined 10 1/2 cents over that period of time. The last half of the week from June 6-10, Class III futures showed some weakness as underlying spot prices showed weakness.
Milk Prices Hit a Home Run
21:15 | 07/06/2022
Milk markets rallied on Monday and closed the majority of Class III months 29-56 cents higher between July and December 2022. While the spot dairy product auction was relatively quiet from a cheese and whey perspective, Cooperatives Working Together (CWT) announced dairy product export sales of 3.1 million pounds. American-type cheese sales were placed at 2.5 million pounds while cream cheese printed 604,000 pounds. Product is set for delivery from June through December 2022. 2023 Class III added 5-28 cents out through September. Class IV was also higher on the day as markets were 3-28 cents higher in 2022 and slightly higher in 2023.
