The Latest: July - 2025
U.S. and China Relationship Remains Precarious
U.S. dairy trade data for May was released, showing mixed performance. U.S. dairy exports to China plummeted during the month, reflecting the intensifying trade conflict between the two countries. Low protein whey products were the most affected as the dramatic drop in Chinese demand caused year over year U.S. exports of dry whey, modified whey, and whey protein concentrates with protein levels under 80% to fall by 19.9%, 16.5%, and 35.6%, respectively.
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The cheese markets stand well below the summer peaks but have made a surprisingly quick return to the lofty elevations from a month ago. Despite the impressive uphill sprint, the trade is clearly questioning the cheese market’s stamina.
View reportSteep losses at mid-week and a Friday rebound added up to net gains across the board.
View reportCheddar markets lost a lot of ground, but tried to put up a fight. Barrels regained some territory signaling that the market is fumbling about for fair value.
View reportCheesemakers are still going strong, and spot milk continues to move in the Midwest. However, demand is lackluster with foodservice outlets pulling back on orders in some areas.
View reportAlthough cheese prices are much lower now than they were in June, cheese vats remain full. The other dairy markets tumbled this week as well and the futures bled copious red ink.
View reportAlthough things had started to bounce back in June, the fledgling economy recovery seems to have stalled in July as the virus rages on. The initial panic has calmed, but the pandemic will continue to disrupt the dairy industry in myriad ways.
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