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.
Milk Prices See Another Positive Move Higher
21:21 | 18/05/2022
Global Dairy Trade Event #306 concluded with the aggregate down 2.9%. Cheddar cheese was down 0.1%. Whole Milk Powder was 4.9% lower. Skim Milk Powder fell 0.6%. Butter dropped 1.0%
Could Milk Go to $30, Dairy Economist Weigh in about the Dynamic Market
09:19 | 07/05/2022
There are a lot of dynamics going beyond just the higher prices we have seen lately in the dairy market. Closely monitoring dairy culling rates, economists look at what the drivers are and where milk prices could go in the second half of 2022.
Milk Prices Bounce Back Double Digits
12:16 | 05/05/2022
Turnaround Wednesday this week. The dairy markets had a nice bounce back after a lackluster start to the week. The USDA released the March Dairy Products report. Total cheese production came in at 1.196 billion lbs, up 13.2 million lb from a year ago and an 8.3% increase over February 2022 produciton.
Tips to Control Those Feed Costs
21:56 | 27/04/2022
The saying, ‘You cannot control what happens to you, but you can control your attitude towards what happens to you,’ rings true when you think about paying that skyrocketing feed bill. Like it or not, feed prices have dramatically risen year-over-year, and leading experts advise producers to gain some control over their feed costs.
Class III Milk Futures Rally Higher
23:30 | 06/04/2022
Global Dairy Trade event #305 concluded with the price index 1% lower on the day. Cheddar rallied to a 5-year high of $2.94/lb, while our domestic price is trading around $2.27/lb. Butter settled slightly lower on the day to $3.06/lb when converting to 80% butterfat. Skim Milk Powder gained 1% to $2.10/lb while the U.S. price is sitting at $1.85/lb.
Milk Markets Take a Big Hit
23:11 | 29/03/2022
Commodity markets across the board took it on the chin Monday as talks regarding Russia and Ukraine coming back to the table for peace talks with higher level officials than in the past coming together in coming days. Traders have also continued to show concern regarding shutdowns in China regarding Covid and what that may do to demand from them.
