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.
Milk Futures Continue to Push Higher
21:42 | 13/03/2022
Friday’s CME spot dairy trade was mixed. Block cheese fell 4.25 cents to $2.19/lb. Barrel cheese was down 6 cents to $2.01/lb. Butter added 1.75 cents to $2.71/lb. NFDM gained ¼ of a penny to $1.84/lb. Whey was unchanged at $0.7575/lb.
Cheddar Prices Reach an All-Time High
11:20 | 02/03/2022
Global Dairy Event #303 concluded Tuesday morning with the price index up 5.1%. Cheddar stole the show, settling nearly 11% higher to an all-time high average price of $2.96/lb. Butter set a five-year high to $3.12/lb when converting it back to the US 80% butterfat content. Whole Milk Powder also rallied to a five-year high to around $2.16/lb.
Milk Price Similarities and Differences: 2014 vs 2022
10:07 | 23/02/2022
With current milk prices where they are and the optimism prevalent in the market, there have been comparisons made to 2014 when we experienced the highest milk prices on record with the All-milk price averaging $23.98. Currently this is all speculation and anticipation as we still have 11 months of prices remaining this year. However, we may need to compare similar years with underlying cash price movement to make a better comparison and why we are seeing what we are.
Milk Prices Slip Lower
21:16 | 09/02/2022
In the CME spot dairy auction, blocks held steady at $1.9000 per pound, with zero lots trading. Barrels decreased to $1.8900 per pound, down two cents, with two loads changing hands. Butter eased to $2.5075 per pound, with five lots exchanged. NDM fell to $1.8425 per pound, giving up $0.0025, with three loads trading. Dry whey increased to $0.8675 per pound, gaining a penny to reach a new all-time high. Two lots changed hands.
What Makes Milk Prices Today Different Than 2014?
21:44 | 11/01/2022
Global dairy commodity prices are rising, and milk prices are following suit. The latest National Dairy Product Sales Report (NDPSR) nonfat dry milk price as of writing is $1.56/lb. That is a level not seen since prices experienced a run-up in 2014. For years after the high in 2014, prices mainly stayed below $1/lb.
