The Latest: October - 2025
Government Shutdown Clouds Dairy Market Data
As the government shutdown stretches into its second week, the dairy industry continues to operate without access to key data. To this point, the main information gaps for the dairy sector include numbers for trade and dairy product output. However, if the shutdown persists, upcoming reports on milk production and inventories will also be missed, further obfuscating stakeholders’ understanding of market drivers.
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February through December contracts posted life-of-contract highs, a sign of health and good cheer.
View reportThere is plenty of fodder for both the bulls and the bears, creating a rather schizophrenic trading market. We’re in a full-blown weather market, and the futures will be as fickle as the forecast.
View reportConcerns about worsening demand are colliding with rising supplies as milk floods the market.
View reportAll eyes were on the CME spot Cheddar markets this week as blocks, and especially barrels, moved decisively lower. Spot barrel prices plunged in recent days and Cheddar spot blocks also moved below $2 for the first time since early September.
View reportCME spot Cheddar barrels climbed to an all-time high last Friday and managed to cling to the precipice on Monday. Then their perch gave way and they plunged over the cliff.
View reportTrading volumes were light, but that led to a sense of foreboding. The rally is real, but how long can it last? The futures curve reflects traders’ fears that the market cannot sustain these prices into next year.
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