The Latest: July - 2021
Milk Abounds
While US milk output is down from the peak volumes reported in April and May, it is still historically strong. USDA’s Dairy Market News cites strong demand for cheese across the nation but butter and powder orders begin to soften. Weather and Washington way heavy on demand of corn and soybean crops.
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Revenues improved throughout the year. Although not sufficient to undo years of financial distress, it is the highest revenue since 2014 and worthy of celebration.
View reportThe market did its job, encouraging production, discouraging sales, and returning to equilibrium at more sustainable values.
View reportPass the egg nog, please. USDA announced the highest Class III price in five years. That’s a lot of Christmas cheer heading for dairy producers’ mailboxes. The butter market, however, is suffering a holiday hangover.
View reportThe gains were driven by impressive improvements in milk production per cow. Higher prices and mild weather have boosted milk output.
View reportSpot Cheddar is still at a rather lofty perch and spot barrels have the highest value in more than five years. The markets are doing their job.
View reportCME spot Cheddar barrels reached a five-year high, then the bids dried up.
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