Global dairy markets exhibit signs of life as New Zealand enters flush

After spending the last two months in negative territory, global dairy prices surged forward in the latest Fonterra Global Dairy Trade auction on Sep. 15. On decent volume of 33,791 MT of products offered, prices across the complex moved up 3.6 percent, the best [...]

Food Price Index down in last four reported months

The FAO Food Price Index rose for a second straight month. Adjusted for inflation, the index rose 1.2 percent month on month (MOM) in July after gaining 2.3 percent in June. The sugar price index gained for a third straight month, albeit more slowly [...]

Bearish milk production report & fears of schools reopening weigh on market

The August USDA Milk Production report showed an unexpected uptick in the herd, albeit by a nominal 2,000 head, enough to see milk volume up 1.5 percent YOY at 17.8 billion pounds. USDA also revised past statistics, lifting June by 59 million lbs, a [...]

Dairy cows swoon with July summer heat

USDA’s July milk production report showed a continued decline in the nation’s dairy herd as the 24-state dairy total fell by 9,000 head. With the spring flush now over and summer heat curbing milk output, farmers have fewer incentives to keep marginal producers within [...]

June Milk Production Report shows decline in production

June may be National Dairy Month, but last week’s USDA Milk Production Report showed drops in both U.S. dairy herd and total milk output compared to the prior month. Milk production in the 24 major states was down 1.0 percent, showing the first yield [...]

Mixed result in most recent Global Dairy Trade auction

The June 2 event on Fonterra’s Global Dairy Trade platform yielded mixed results with powder categories rising while butterfat-laden products fell. The biggest increases were seen in buttermilk powder (up 9.4 percent) and whole milk powder that rose 2.1 percent. Skim milk powder was [...]

FAO’s Food Price Index at 17-month lows

FAO reports that its Food Price Index (FPI) fell in May for the fourth consecutive month, bringing the Index to its lowest level since December 2018, a 17-month low. Adjusted for inflation, May’s FPI fell 2 percent from April and was down 6 percent [...]

Butter prices strengthen despite building stocks

After a $0.90 per lb collapse for cash butter during Q1—brought on by building inventories and declining restaurant and food service demand in the wake of COVID-19—pricing has rallied by 20 percent over the past 30 days. This may be a signal that prices [...]

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