Sarina Sharp
Milk, Dairy and Grain Market Commentary
Soaring temperatures, summer shortages, and sky-high prices are out of season as the cheese and butter markets hunker down for the winter.
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Market News
Sarina Sharp
Nov 85 min read
Milk, Dairy and Grain Market Commentary
The cheese markets took another big step back this week. CME spot Cheddar blocks plummeted 11.75ȼ and closed at $1.72 per pound,...
Sarina Sharp
Nov 14 min read
Milk, Dairy and Grain Market Commentary
It was an eerily quiet week on LaSalle Street, with no major reports for the dairy markets to digest. So, the trade ruminated on some...
Monica Ganley
Oct 264 min read
Milk, Dairy and Grain Market Commentary
Dairy market analysts got a surprise this week when USDA released its Milk Production report on Monday with stronger than expected results.
Monica Ganley
Oct 184 min read
Milk, Dairy and Grain Market Commentary
The dairy markets bounced this week, rejecting the notion that lower prices will be necessary to balance supply and demand. After the...
Sarina Sharp
Oct 114 min read
Milk, Dairy and Grain Market Commentary
The dairy markets are seeking a balance at prices that encourage greater milk output without killing demand. For several...
Sarina Sharp
Oct 44 min read
Milk, Dairy and Grain Market Commentary
The dairy markets have once again proven the old trading adage that the best cure for high prices is high prices. After a spring...
Monica Ganley
Sep 274 min read
Milk, Dairy and Grain Market Commentary
After the fireworks of last week, the cheese markets have spent the past few days coming back to earth. Barrels distanced themselves...
Sarina Sharp
Sep 204 min read
Milk, Dairy and Grain Market Commentary
U.S. milk output fell short of year-ago volumes for the 14th straight month in August. The deficit was narrow; production was just...
Sarina Sharp
Sep 134 min read
Milk, Dairy and Grain Market Commentary
The dairy markets moved higher again as the trade grappled with structural barriers to expansion throughout the Northern Hemisphere.
Sarina Sharp
Sep 64 min read
Milk, Dairy and Grain Market Commentary
Tighter milk supplies and lower milk solids output have stiffened competition among dairy processors. While there are no obvious...
Sarina Sharp
Aug 303 min read
Milk, Dairy and Grain Market Commentary
The bears went into hibernation a little early this year, and the bulls enjoyed raucous celebrations on LaSalle Street. Milk and...
Sarina Sharp
Aug 234 min read
Milk, Dairy and Grain Market Commentary
U.S. milk output has trailed prior-year volumes for 13 straight months. In Wednesday’s Milk Production report, USDA slashed its...
Sarina Sharp
Aug 164 min read
Milk, Dairy and Grain Market Commentary
Like Katie Ledecky in a Paris pool, the dairy spot markets hit one milestone after another. But perhaps the pole vault and high jump...
Monica Ganley
Aug 94 min read
Milk, Dairy and Grain Market Commentary
As summer enters its final stretch, milk production conditions have mostly returned to seasonal norms. Hot temperatures continue...
Sarina Sharp
Aug 24 min read
Milk, Dairy and Grain Market Commentary
Feed is cheap and milk revenues are lofty. USDA announced the July Class III milk price at $19.79 per cwt. While that was 8ȼ lower than...
Sarina Sharp
Jul 264 min read
Milk, Dairy and Grain Market Commentary
As befits the season, the dairy markets heated up this week. The trade is becoming increasingly concerned that milk will remain tight...
Sarina Sharp
Jul 194 min read
Milk, Dairy and Grain Market Commentary
Dairy producers have just cashed a very big milk check, and they’re looking forward to similarly lucrative payments for the rest of...
Monica Ganley
Jul 124 min read
Milk, Dairy and Grain Market Commentary
Soaring temperatures and suffocating humidity are challenging milk production in many parts of the country. As the mercury...
Sarina Sharp
Jun 284 min read
Milk, Dairy and Grain Market Commentary
Cheese stocks typically grow throughout the spring, as the flush pushes more cheap milk to cheese processors, and demand ebbs. But this...
Sarina Sharp
Jun 214 min read
Milk, Dairy and Grain Market Commentary
Dairy producers did everything they could to keep their barns full last month after milk prices soared. They paid $3,000 or more...
Sarina Sharp
Jun 143 min read
Milk, Dairy and Grain Market Commentary
Strong domestic cheese demand propelled Class III futures to fresh life-of-contract highs this week. On Thursday, third-quarter...
Sarina Sharp
Jun 74 min read
Milk, Dairy and Grain Market Commentary
The bulls are back in charge on LaSalle Street. July through December Class III and a smattering of Class IV futures notched...
Sarina Sharp
May 314 min read
Milk, Dairy and Grain Market Commentary
After notching a new spring high last Friday, butter values plunged early this week. The trade spent the long weekend considering...
Sarina Sharp
May 244 min read
Milk, Dairy and Grain Market Commentary
By Sarina Sharp, Daily Dairy Report Sarina@DailyDairyReport.com Milk, Dairy & Grain Markets The markets are screaming at dairy producers...
Sarina Sharp
May 173 min read
Milk, Dairy and Grain Market Commentary
The bulls ran wild in Chicago this week. For both Class III and Class IV milk, June through December futures notched life-of-contract highs.
Sarina Sharp
May 105 min read
Milk, Dairy and Grain Market Commentary
Spring is in full swing. Family calendars are packed with end-of-the-school year concerts, field days, and parties. Farmers are dodging...
Monica Ganley
May 34 min read
Milk, Dairy and Grain Market Commentary
Folks from across the dairy industry gathered this week in Chicago for the annual meeting of the American Dairy Products Institute.
Sarina Sharp
Apr 265 min read
Milk, Dairy and Grain Market Commentary
The dairy markets swung wildly back and forth this week as they digested a slew of data and headlines. Monday’s Milk Production...
Sarina Sharp
Apr 193 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...
Sarina Sharp
Apr 124 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...
Monica Ganley
Apr 54 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...
Monica Ganley
Mar 294 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...
Sarina Sharp
Mar 224 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...
Monica Ganley
Mar 154 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...
Sarina Sharp
Mar 84 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.
Sarina Sharp
Mar 14 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.
Sarina Sharp
Feb 233 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...
Monica Ganley
Feb 164 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...
Monica Ganley
Feb 94 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...
Sarina Sharp
Feb 24 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...
Monica Ganley
Jan 264 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...
Sarina Sharp
Jan 193 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...
Sarina Sharp
Jan 124 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...
Monica Ganley
Jan 54 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...
Sarina Sharp
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...
Sarina Sharp
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...
Sarina Sharp
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...
Sarina Sharp
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...
Monica Ganley
Nov 17, 20234 min read
Milk, Dairy and Grain Market Commentary
The holiday season is upon us, but the dairy markets haven’t been feeling particularly festive. Nearly all products lost value over...
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