The Latest: January - 2026
Have the Bulls Returned
But even though the specter of excess global milk supplies has by now become familiar, the bears seem to have taken a breather this week. For the second event in a row, the Global Dairy Trade index moved up, rising 1.5% on the back of stronger prices for fats and powders. Similarly, the CME spot market did an about face with values rising across nearly every product. While we remain a far cry from declaring that the bulls have returned, these increases are nevertheless an indication that the market may be finding some support at prevailing levels.
View Report
Despite some moderation during Friday’s spot session, gains earlier in the week left prices higher than last Friday for both butter and nonfat dry milk (NDM), pushing Class IV milk values upward.
View reportHot weather weighed on U.S. milk yields and slowed milk powder output in August. As the impacts of the summer heat wave fade and bottlers settle into the school milk routine, there is more milk available for processing.
View reportThe bulls were put out to pasture this summer, grazing in paddocks far from LaSalle Street. But fall is here, and they are back home enjoying a high energy ration, pushing several markets to their highest price in months.
View reportSoaring temperatures in much of the country and unusually humid conditions in the Southwest added up to a lot of stress. National average milk yields fell short of year-ago levels, an exceptionally rare occurrence.
View reportAccording to the National Oceanic and Atmospheric Administration, the U.S. just suffered its hottest summer ever. Soaring temperatures weighed on milk yields and tightened supplies as heat stress accumulated late in the summer and into September.
View reportThe Global Dairy Trade (GDT) auction kicked things off with bang and all products gained significant ground. Cheesemakers are running at their usual pace, as long as they can find the staff to do so and demand remains healthy.
View report