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 [...]

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 [...]

Dairy prices retreat as coronavirus spreads

As confirmed coronavirus cases and fatalities mount—mostly but not solely within mainland China—dairy prices eased in the most recent Global Dairy Trade auction falling by nearly 5 percent. Travel restrictions and reduced growth forecasts as a result of the virus are curbing future demand [...]