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.
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.
