Fonterra flags challenging environment in fiscal 2024
14:01 | 12/11/2023
New Zealand's Fonterra, the world's largest dairy exporter, on Thursday said it anticipated a challenging operating environment for global dairy markets in fiscal 2024, reported Reuters.
Friday the 13th Spares Milk Prices
23:13 | 16/10/2023
Friday the 13th lacked any real horrors. CME spot trade was quiet, outside of a continued correction lower on butter. Butter fell 3 cents to $3.36/lb, Dry whey continued it's big volume week with another day in double digit trades and a jump higher of half a cent to $0.33 1/2/lb. Grade A Non Fat Milk was unchanged at $1.22/lb with Cheese tagging along at unchanged with Blocks at $1.70/lb and Barrels at $1.64 1/2.
Brazil milk production up 3.(% over last year)
11:06 | 04/09/2023
According to the quarterly livestock report from Brazil's Agência de Notícias (IBGE), milk production rose 3.9% over last year, but declined 2.8% over the previous quarter.
Fall Milk Prices Gain Some Ground
16:46 | 27/08/2023
A strong finish for Class III milk even though Cheese was sideways. September milk moved back to briefly trade a $19 handle before settling the day at $18.94, 18 cents higher than yesterday. October led the move higher, gaining 45 cents to $18.65/cwt. November gained 14 cents to $18.33/cwt. Class IV milk was softer with September sliding 3 cents to $18.90, October down 9 to $18.89, and November down 7 cents to $18.93/cwt.
Fonterra cuts milk price forecast for 2023/2024 season
23:22 | 20/08/2023
New Zealand’s Fonterra Co-operative Group on Friday cut its farmgate milk price forecast for the second time this month amid weakness in international dairy prices, reported Reuters.
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.
