Summer brought searing temperatures across the U.S. as well as record-high butter prices north of $3.00 per lb. Despite strong milk production and respectable herd figures, prices rallied as AA butter inventories struggled to rise significantly over the prior year or the five-year average. [...]
After a solid rally and underreporting of herd statistics in the first half of the year, corrections in USDA cow numbers, solid inventories of dried powder, and waning demand are finally bringing welcome relief to overheated dairy markets. We previously addressed the systemic underreporting [...]
Valentine’s Day must have fanned the flames of dairy bulls as the Fonterra Global Dairy Trade auction registered its third consecutive hike in prices. The Feb. 15 event saw prices rise across all product categories with a cumulative growth of 4.2 percent. Core products [...]
Key industry reports released this past week provided additional fuel to bulls in dairy, bolstering prices. Domestically, the milk production report surprised many with a significant reduction to last month’s August estimate of herd and a further decrease for the current month. In total, [...]
The Aug. 17 Fonterra Global Dairy Trade (GDT) auction showed the first gain in overall product prices since April, albeit only a modest 0.3 percent increase. Butter (+4.0 percent) and cheddar cheese (+2.8 percent) saw the strongest gains, with 180 active bidders and 22,543 [...]
Breathtaking gains in dairy prices in Fonterra’s latest global auction had a feel of a short squeeze with aggressive bids and few offers. In particular, a genuine lack of free containers for maritime transit has hurt spot availability. Chinese buyers returned to the market [...]
In Fonterra Global Dairy Trade online auction events of the last two months, prices for dairy products have surged just over 16 percent. Last week’s event was no exception, with prices advancing up an impressive 4.8 percent overall. Category leaders included anhydrous milkfat (up [...]
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 [...]
