The Latest: April - 2025
More Cows in the Barn
Every week, U.S. dairy producers send about 10,000 fewer milk cows to beef packers than they used to. That’s slowly adding up to more cows in the barn. Even so, dairy cow head counts are not as high as previously thought. After its quarterly survey, USDA trimmed its estimates of January and February milk cow inventories.
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At the Global Dairy Trade (GDT) auction on Tuesday, the GDT Index jumped 4.6% to its highest price since March 2014, led by a 5.6% increase in the price of whole milk powder (WMP). GDT butter and cheese both scored all-time highs, while SMP climbed to prices not seen in nearly eight years.
View reportMarkets are swinging wildly from heart-stopping highs to stomach-churning lows and back again. But unlike thrill rides, the dairy markets are breaking new ground.
View reportPrices are high and extremely volatile as the trade assesses how long global milk output will remain depressed and whether demand will hold firm despite the rising cost of dairy.
View reportThe dairy markets are full of Christmas cheer for producers, while dairy buyers are grunting “Bah! Humbug,” into their egg nog. The milkfat market is especially festive and the whey market just keeps climbing.
View reportLower milk production abroad will make more room for U.S. dairy product exports, even if the global appetite for dairy products fades modestly.
View reportFrom the darkest corners of the Board of Trade building, the bears whispered their concerns about the health of the global economy and accelerating inflation. But their warnings were drowned out by the stamping of hooves as the markets shot enthusiastically upward.
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