Monica Ganley
Milk, Dairy and Grain Market Commentary
The official start of spring is right around the corner and milk volumes are responding accordingly. Output is steady to higher in most...
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Market News
Sarina Sharp
- Mar 10
- 4 min
Milk, Dairy and Grain Market Commentary
The spring flush is just getting started, but the nation is already drowning in milk. Dairy processors in the Central region were able...
Sarina Sharp
- Mar 3
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets are reeling after a bruising week on LaSalle Street. March Class III milk eked out a 3ȼ gain, and November and...
Sarina Sharp
- Feb 24
- 4 min
Milk, Dairy and Grain Market Commentary
Rested up after a long weekend, the cheese markets came charging out of the gates. CME spot Cheddar blocks leapt 8ȼ on Tuesday.
Monica Ganley
- Feb 17
- 4 min
Milk, Dairy and Grain Market Commentary
Activity at the spot market in Chicago was mixed this week as prices moved modestly up and down, testing new boundaries.
Sarina Sharp
- Feb 10
- 4 min
Milk, Dairy and Grain Market Commentary
Milk is abundant and trading at steep discounts in the cheese states. For the seventh straight week, cheesemakers in the Upper...
Sarina Sharp
- Feb 3
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets have digested a lot of bad news over the past few months. A renewed focus on economic and demographic slowdown in...
Sarina Sharp
- Jan 27
- 4 min
Milk, Dairy and Grain Market Commentary
U.S. milk output was not as strong as anticipated in December. Clocking in at 18.9 billion pounds, it was just 0.8% higher than...
Monica Ganley
- Jan 20
- 4 min
Milk, Dairy and Grain Market Commentary
The bears were out in force this week, pressuring the dairy markets to new lows as supplies accumulated and global demand prospects dimmed.
Sarina Sharp
- Jan 13
- 4 min
Milk, Dairy and Grain Market Commentary
The cheese markets came charging out of the gates on Monday. CME spot Cheddar blocks leapt 14.25ȼ, and barrels added a dime. The strong...
Sarina Sharp
- Jan 7
- 4 min
Milk, Dairy and Grain Market Commentary
The holiday hangover hit hard this year. The cheese markets got off to a particularly rough start, with big losses both Tuesday...
Sarina Sharp
- Dec 30, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
In a year full of drama, the butter market was a sensation all its own. It began the year at a relatively lofty height, suffered a...
Sarina Sharp
- Dec 16, 2022
- 3 min
Milk, Dairy and Grain Market Commentary
Like a sack of gifts down a chimney flue, the cheese markets landed with a thud. CME spot Cheddar blocks dropped 11.75ȼ to $1.9775 per...
Sarina Sharp
- Dec 10, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets are in transition. The factors that propelled milk prices above $25 per cwt. this summer – a sustained global milk...
Sarina Sharp
- Dec 2, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
As befits the season, the dairy markets had a lot to digest over the past two weeks. They headed into the Thanksgiving weekend with a...
Sarina Sharp
- Nov 18, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
After sprinting straight uphill last week, the dairy markets paused to catch their breath and, in some cases, to retreat to less...
Sarina Sharp
- Nov 11, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The bulls are back in town. Class III milk futures leapt to their highest values in a month or more, and Class IV contracts staged...
Sarina Sharp
- Nov 4, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Sky-high prices scared away buyers, and the CME spot butter market plummeted on Halloween, dropping below $3 per pound for the first...
Sarina Sharp
- Oct 28, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Global milk output has been in decline for a full year, muffling anxieties about the impact of sky-high dairy prices and a strong...
Monica Ganley
- Oct 21, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
U.S. dairy producers forged ahead in September, posting increases in milk production for the third consecutive month. Totaling...
Monica Ganley
- Oct 14, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Another sizzling inflation report from the Bureau of Labor Statistics suggests that U.S. consumers are feeling pinched from all sides...
Sarina Sharp
- Oct 7, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The butter market has outdone itself once again. On Wednesday it climbed to $3.24 per pound, matching the all-time high set in September.
Sarina Sharp
- Sep 30, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Football season is in full swing, and fans are enjoying their favorite game with a feast of queso and nachos. Demand for fresh...
Sarina Sharp
- Sep 23, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
U.S. milk output grew decisively last month, at least in comparison to the very low production reported in August 2021.
Sarina Sharp
- Sep 16, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Butter conquered unexplored elevations this week, and it made the trek look easy. On Tuesday CME spot butter jumped 7ȼ to $3.24 per...
Sarina Sharp
- Sep 9, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The butter market leapt to an all-time high Wednesday and just kept climbing. CME spot butter closed today at $3.17 per pound, up 6.5ȼ...
Sarina Sharp
- Sep 2, 2022
- 3 min
Milk, Dairy and Grain Market Commentary
The bulls remain in charge in the butter pit. CME spot butter added another 1.75ȼ this week and reached $3.10 per pound, tied for the...
Sarina Sharp
- Aug 26, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
utter buyers are anxious. There were just 314.4 million pounds of butter in cold storage at the end of July, 5.4% less than a year ago...
Monica Ganley
- Aug 19, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Market observers are paying close attention to an evolving global milk production scenario as many key supply regions witnessed a...
Monica Ganley
- Aug 12, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
On the heels of persistent declines, most products at the CME managed to stop the slide this week. While some modest increases suggest...
Sarina Sharp
- Aug 5, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Slowing global milk output is making room for American dairy. The United States sent a record-setting volume of dairy products abroad...
Sarina Sharp
- Jul 29, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The bulls and bears squared off in Chicago this week, and the dairy markets lurched this way and that as the two sides fought for control.
Sarina Sharp
- Jul 22, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The streak is over. After seven months in the red, U.S. milk production exceeded year-ago volumes in June, topping June 2021 by 0.2%.
Sarina Sharp
- Jul 15, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The commodity markets reeled this week, battered by growing anxiety about the global economy. The headlines packed one punch after another.
Monica Ganley
- Jul 8, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The bears were out in full force during this holiday-shortened week. Prices for dairy commodities moved lower both at home and abroad as...
Sarina Sharp
- Jul 1, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The spot markets sizzled in Chicago this week, but the futures fizzled. CME spot butter leapt 9.5ȼ to $3.01 per pound. Cue the fireworks!
Sarina Sharp
- Jun 24, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Red ink flowed on LaSalle Street this week as the trade reckoned with the fact that, although milk production continues to...
Sarina Sharp
- Jun 17, 2022
- 3 min
Milk, Dairy and Grain Market Commentary
The European dairy industry is shrinking noticeably. Eurostat estimates there were 20.2 million dairy cows in the EU-27 last...
Sarina Sharp
- Jun 10, 2022
- 3 min
Milk, Dairy and Grain Market Commentary
The butter market sprinted uphill and reached $3 this week for the first time since 2015. Buyers bought 19 loads of butter in Chicago...
Sarina Sharp
- Jun 3, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
From Canberra to Chicago, and Wellington to Warsaw, milk output continues to underwhelm. After slight growth in February, European...
Sarina Sharp
- May 27, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The mercury is rising in the Southwest, and the cows in Texas, New Mexico, and Arizona are suffering in triple digit temperatures. But...
Sarina Sharp
- May 20, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets continue to wrestle with the invisible hand, seeking an equilibrium between tight supplies and waning demand. As...
Sarina Sharp
- May 13, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets are still concerned about demand. Global milk output is growing slowly, if at all, and dairy product inventories are...
Sarina Sharp
- May 6, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
For months, the dairy markets have focused on shrinking global milk output and barriers to rapid expansion. Tight supplies pushed...
Sarina Sharp
- Apr 29, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets seem a bit befuddled. They moved this way and that without much conviction this week. Prices are historically...
Sarina Sharp
- Apr 22, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Spring has arrived, and the dairy markets swooned accordingly. Milk powder was especially weak. At Tuesday’s...
Sarina Sharp
- Apr 15, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Up and up and up again. CME spot Cheddar barrels gained another 7.25ȼ this week and reached $2.44 per pound. That’s the highest price...
Monica Ganley
- Apr 8, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
With the Easter holiday around the corner and students enjoying vacations, spring appears to have sprung. Milk production is...
Sarina Sharp
- Apr 1, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
The dairy markets are getting accustomed to the altitude. Last week, Q2 Class III contracts summited briefly above $25/cwt., while Q3...
Sarina Sharp
- Mar 25, 2022
- 4 min
Milk, Dairy and Grain Market Commentary
Rising costs and waning milk output pushed the U.S. dairy markets higher once again this week. Cheese led the way. CME spot Cheddar...
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