The Latest: July - 2021
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.
The Cheddar market was already red hot, but barrels pushed the mercury even higher this week.View report
Fresh cheese is tight, and the markets seem to have someone – or several someones – over a barrel. High prices are working to trim demand at the margins, boost production, and attract imports.View report
Judgment is further clouded by stupefying volatility and a sense of déjà vu. Sky-high cheese prices are simply difficult to sustain.View report
The bulls are still bruised after getting walloped in mid-September, when spot cheese staged an invigorating climb followed by a dramatic collapse.View report
The fundamentals of the milk powder market seem particularly healthy, and the bulls are roaming free.View report
After much volatility, the boundaries are becoming clearer. The spread between blocks and barrels narrowed, adding another layer of uncertainty to the already complex cheese markets.View report