The Bulls Frolicked on LaSalle Street This Week
The steep December selloff was a necessary correction and was not the start of a sustained downtrend. With the exception of butter, dairy demand is outpacing supply and supporting dairy product prices.
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CME spot Cheddar barrels dropped to a 10-month low but came roaring back. The powder markets firmed as well.View report
Milk yields and components remain high while an unsettled market tries to digest the holiday excess.View report
Revenues improved throughout the year. Although not sufficient to undo years of financial distress, it is the highest revenue since 2014 and worthy of celebration.View report
The market did its job, encouraging production, discouraging sales, and returning to equilibrium at more sustainable values.View report
Pass the egg nog, please. USDA announced the highest Class III price in five years. That’s a lot of Christmas cheer heading for dairy producers’ mailboxes. The butter market, however, is suffering a holiday hangover.View report
The gains were driven by impressive improvements in milk production per cow. Higher prices and mild weather have boosted milk output.View report
Spot Cheddar is still at a rather lofty perch and spot barrels have the highest value in more than five years. The markets are doing their job.View report
CME spot Cheddar barrels reached a five-year high, then the bids dried up.View report
The Cheddar market was already red hot, but barrels pushed the mercury even higher this week.View report
Fresh cheese is tight, and the markets seem to have someone – or several someones – over a barrel. High prices are working to trim demand at the margins, boost production, and attract imports.View report