OVERVIEW:
All sectors of dairy decided to rally Thursday afternoon, led initially by butter, and then everyone wanted to follow along.
MILK:
Class III futures are 3 to 5 cents higher this afternoon, while Class IV finally traded today, rallying 11 to 17 cents. Dry Whey was mixed between 0.25 cents lower and 0.3 cents higher. Non-Fat Dry Milk was up 0.425 cents to 0.65 cents. There has been a popular article circulating this week, giving a strong case for why they believe milk futures have long-term global demand as we head into late 2026. With Agricultural Secretary Rollins' comments earlier this week about trying to find new markets for dairy products, the market is hopeful for bullish news to come.
AVERAGE CLASS III PRICES:
| 3 Month: | $16.58 |
| 6 Month: | $16.52 |
| 9 Month: | $16.69 |
| 12 Month: | $16.94 |
CHEESE:
Cheese blocks and cheese barrels stayed somewhat even, trading 0.25 cents lower to 0.25 cents higher. There was hope that blocks would rebound after yesterday's losses, but we saw very little movement in price. Futures are mixed, trading 0.5 cents lower to 0.4 cents higher.
BUTTER:
Butter was the big winner of the day, rallying 3.75 cents to 4.225 cents higher in the futures market and an impressive 5.25 cents higher in the cash market. Demand had picked up, and the retail buyers had decided that prices had fallen enough to add to their winter supply on hand.
OUTSIDE MARKETS SUMMARY:
December corn closed up 6.25 cents per bushel at $4.4150, January soybeans closed up 13.25 cents at $11.4700 and December soybean meal closed up $7.40 per ton at $328.40. December Chicago wheat closed down .25 cent at $5.3575. December live cattle closed down $6.28 at $219.00. December crude oil is up .19 per barrel at $58.68. The Dow Jones Industrial Average is down 797 points at 47,457 and NASDAQ is down 536 points at 22,870.
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