The Latest: May - 2022
Dairy Markets Wrestle with Tight Supplies and Waning Demand
As indications of slower milk output came to the fore, milk futures climbed. Dairy producers will cash some record-shattering milk checks next month, as May Class III and IV contracts are both a little above $25 and the Class I base price is $25.45.
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We’re in the thick of the summer doldrums. It’s expected during these mid-summer weeks that dairy markets do not move much. And they haven’t. But the doldrums don’t mean there’s nothing interesting going on. Dairy industry observers are intrigued by notably sluggish retail and consumer cheese sales even though summertime usually means those sales should be peaking.
View reportBy far the most noteworthy dairy market at the moment is butter. While butter typically peaks in late summer and early autumn, a surge in domestic spot prices that began in mid-April continues, sending prices from $2.0625 to over $2.7000 per pound by mid-June. And there’s no sign —at least for now— that indicates prices may fall back in the coming weeks. So how high will butter go?
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