The Latest: May - 2024
Shaping Milk Supply Amid Seasonal Peaks
Folks from across the dairy industry gathered this week in Chicago for the annual meeting of the American Dairy Products Institute. This event provides a setting for traders and other stakeholders to chew over market information and revise expectations for the months ahead. While every commodity gained ground at the CME this week, it remains clear that individual products each are confronting their own set of challenges, and that the markets remain shrouded in uncertainty from both supply and demand.
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The spot markets have been buoyed by robust near-term fundamentals. However, dairy futures were far from exuberant this week and some new clouds have moved onto the horizon.
View reportThe stock market suffered its worst losses of the year on Monday but the U.S. dairy markets remain firmly supported as milk tightens. On Monday, USDA will publish its much-anticipated Acreage and Crop Production reports. Next week could be volatile.
View reportAlthough the bulls did not assert themselves this week, the bears are not in charge. Aside from the break from the extreme heat, all the factors that propelled the markets to their recent peak remain in play.
View reportDairy producers would surely prefer the energy of the early-stage rally to today’s more plodding progress. The plateau is a sign of healthy markets at work.
View reportAlmost all products rallied at the Global Dairy Trade (GDT) auction on Tuesday. However, in Europe dairy product prices continue to slip. Heat is also taking a noticeable toll on milk yields and components in much of the United States.
View reportAfter some late-June fireworks, the dairy markets fizzled in the first two weeks of July. The mercury has climbed, the storms have abated, and the grain markets have climbed. Farmers were initially relieved to have a break from the spring deluge, but now – with the exception of those in parts of Nebraska – they are praying for rain.
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