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Apr 19, 20243 min read
Milk, Dairy and Grain Market Commentary
Class III futures came roaring back this week, led by a sizable rally in the cheese markets. USDA’s Dairy Market News reports that...

Apr 12, 20244 min read
Milk, Dairy and Grain Market Commentary
The dairy markets got off to a strong start this week, led by a historic move in butter. CME spot butter traded thrice at $2.97 per pound...

Apr 5, 20244 min read
Milk, Dairy and Grain Market Commentary
U.S. dairy exports have struggled for the past year as weak global demand and uncompetitive prices caused exports to trail prior year...

Mar 29, 20244 min read
Milk, Dairy and Grain Market Commentary
On Monday, the USDA announced that it had identified the mystery disease affecting dairy cattle in Kansas and Texas as Highly...

Mar 22, 20244 min read
Milk, Dairy and Grain Market Commentary
Despite signs of continued contraction, the dairy markets just keep dropping. CME spot Cheddar blocks led the retreat. They fell 7.75ȼ...

Mar 15, 20244 min read
Milk, Dairy and Grain Market Commentary
Indecision continued to pervade the dairy markets this week as the price of most products waffled close to recent levels. While the...

Mar 8, 20244 min read
Milk, Dairy and Grain Market Commentary
The dairy markets are feeling around for a bottom. April through July Class III futures notched life-of-contract lows this week.

Mar 1, 20244 min read
Milk, Dairy and Grain Market Commentary
It was a rough week on LaSalle Street. The trade had hoped that lower milk output and a smaller dairy herd would propel the markets upward.

Feb 23, 20243 min read
Milk, Dairy and Grain Market Commentary
The U.S. dairy industry continues to shrink. In the latest Milk Production report, USDA trimmed its estimates of 2023 milk...

Feb 16, 20244 min read
Milk, Dairy and Grain Market Commentary
USDA released its 2022 Census of Agriculture earlier this week, providing the latest installment of the once-every-five-year report on...

Feb 9, 20244 min read
Milk, Dairy and Grain Market Commentary
After a period of exuberance, the dairy markets ran into some resistance this week. Though milk supplies are far from plentiful, demand...

Feb 2, 20244 min read
Milk, Dairy and Grain Market Commentary
With the benefit of hindsight, USDA now believes there were many fewer dairy heifers on hand at the beginning of 2023 than previously...

Jan 26, 20244 min read
Milk, Dairy and Grain Market Commentary
Milk production growth in the U.S. sputtered at the end of 2023, leaving the full year result nearly unchanged from the year prior. After...

Jan 19, 20243 min read
Milk, Dairy and Grain Market Commentary
Most Americans are irate about an unwelcome invasion across our unprotected border. I’m talking, of course, about the blast of cold air...

Jan 12, 20244 min read
Milk, Dairy and Grain Market Commentary
The dairy trade is feeling around for the bottom in the cheese market. Cheese output remains robust, but low prices have finally...

Jan 5, 20244 min read
Milk, Dairy and Grain Market Commentary
The new year has officially begun. But as Auld Lang Syne faded into the background, the dairy markets were unsettled in the first...

Dec 22, 20234 min read
Milk, Dairy and Grain Market Commentary
There was a decided lack of Christmas cheer in the Class III markets this week. The January through April contracts scored...

Dec 15, 20234 min read
Milk, Dairy and Grain Market Commentary
Ink ran red on LaSalle Street this week. January Class III futures dipped below the $16 mark, a level signaling plenty of red ink on...

Dec 8, 20234 min read
Milk, Dairy and Grain Market Commentary
Cheese vats remain full, despite lower milk output. U.S. cheese production reached 1.19 billion pounds in October, up 0.8% from the...

Dec 2, 20234 min read
Milk, Dairy and Grain Market Commentary
U.S. milk production slumped deeper into the red in October as poor margins and tight heifer supplies trimmed the dairy herd. Milk output...
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