tag:blogger.com,1999:blog-10157669248924270582024-03-28T14:04:21.759-07:00Dairy DiaryJWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comBlogger2920125tag:blogger.com,1999:blog-1015766924892427058.post-2407936519899554872024-03-28T11:31:00.000-07:002024-03-28T11:31:30.227-07:00Fluid Milk and Cream - Western U.S. Report 13<p>Farm level milk production is trending steady to higher in the West. In California, contacts share milk production continues to rise seasonally. Mild weather in the Central Valley has aided cow comfort, and some contacts note they are beginning to see spring flush volumes. Contacts share milk production for this week is in line with forecasts and is above milk volumes recorded this week last year. Class I demand is strong in the area. Class II demand is expected to increase in the coming weeks. Class III demand is strong, as is Class IV demand. Both planned and unplanned plant downtime has made condensed skim availability loose, and contacts share spot milk prices are being reported as low as $4-under Class III. Cream supplies are ample. </p><p>In Oregon and Washington, farm level milk production is trending higher. Contacts share they are above forecasted volumes for this time of year. Milk components are said to be strong, and plants are able to bring more cream into processing. </p><p>In Idaho, farm level milk outputs are noted to be in line with recent weeks. Contacts expect spring flush volumes to peak in late April. Demand for all Classes is unchanged. Cream is available, but demand is noted to be lackluster. </p><p>Milk production in Utah and Colorado is in line with recent weeks, but contacts share milk volumes are tighter than they were this time last year. </p><p>Processors in Arizona note steady to stronger milk outputs at the farm level. Demand for all Classes is unchanged. </p><p>In New Mexico, processors share milk volumes are able to meet production needs, but spot milk availability is tight. Demand for all Classes is steady. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-aGftckUIGl67D7YfdjfBVi9_DehAmto_wsHfvyz3WB7m6o7N6mPUCCKPqXqbzryDUhWvQSsFtG57huRK1DcpKM90dQprBfZtCBt4j4x-O6WtnstBo0HZWlCwKZLHm7EaFWOX1HErb-4qJN1UJC1TSfjiiG_EBm9RMl4zAUFTUT7LCOLxSbjoZipj_NsW/s2550/ams_1102_00265-page-001.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="570" data-original-width="2550" height="144" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-aGftckUIGl67D7YfdjfBVi9_DehAmto_wsHfvyz3WB7m6o7N6mPUCCKPqXqbzryDUhWvQSsFtG57huRK1DcpKM90dQprBfZtCBt4j4x-O6WtnstBo0HZWlCwKZLHm7EaFWOX1HErb-4qJN1UJC1TSfjiiG_EBm9RMl4zAUFTUT7LCOLxSbjoZipj_NsW/w640-h144/ams_1102_00265-page-001.jpg" width="640" /></a></div><br /><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1620" data-original-width="1620" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2n9oX-LSA0RgImXNmV6TZgREQa8EhiDUgekzWlQGVntvYS4UHpufZRwRjakxO347lt7-9DJFkGgNYGu7qXnyUvY3eeYMI9picmSyL2ug10HG5DoL9irZG7kt-1vvad6Sb5p0fCSAVThGVXqPuJnZ6YLCWJ_Y1GfsAb_OxVQcNg_TC0HcNg8G3nMJGo03R/w640-h640/Excellerator%202.png" width="640" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-51146468611206412932024-03-28T11:22:00.000-07:002024-03-28T11:22:29.475-07:00Thursday Midday Dairy Market Summary - Butter, Cheese Post Minor Gains<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">CORN:</td>
<td nowrap="nowrap">15 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEANS:</td>
<td nowrap="nowrap">1 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEAN MEAL:</td>
<td nowrap="nowrap">$1.40 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">LIVE CATTLE:</td>
<td nowrap="nowrap">$1.62 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">DOW JONES:</td>
<td nowrap="nowrap">37 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">NASDAQ:</td>
<td nowrap="nowrap">18 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap">CRUDE OIL:</td>
<td nowrap="nowrap">$1.67 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Block cheese price increased a penny, closing
at $1.4175 with six loads traded. Barrel cheese price increased 0.75
cent, closing at $1.4275 with seven loads traded. Dry whey price
remained unchanged at 40.25 with no loads traded. The gains were not
enough to move Class III milk futures into positive territory. Futures
prices range from 1 cent to 16 cents lower. Thankfully, futures are up
about 10 cents from their lows of the day.</p><p>
</p><p class="news_content">Butter price increased 0.25 cent, closing at
$2.0425 with four loads traded. Grade A nonfat dry milk price remained
unchanged at $1.12 with one load traded. Class IV futures have only been
traded in the August contract with the price 3 cents lower. Butter
futures are 1.87 cents lower to 0.47 cent higher. Dry whey futures are
steady to 1.30 cents lower. USDA will release the February Agricultural
Prices report today. </p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/dyna-sile-and-the-importance-of-silage-inoculants" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="6600" data-original-width="5100" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq9C1MY1a-C2pKnXm7wEf9BjjTaH6RbrCd0k2s9Chosje8Oarw15hyphenhyphennyxxPjhEfpH44oSspzXvBftw_0H2MESsnqmFiE0mdoLYRDh0SH3TEWEH6nKRTN_LYO2C8ZElWNivAW5OCqEXEMBaG5gUYf5rKwEjeVhL_YcWTYo3dk8db3gEf_8aSsxz2YCe2yTu/w494-h640/8%202016.jpg" width="494" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-64932796413261479902024-03-28T06:33:00.000-07:002024-03-28T06:33:49.573-07:00Thursday Morning Dairy Market Update - Milk Futures Remain Under Pressure<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">5 to 10 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 5 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1 to $2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">Class III milk futures suffered a blow
Wednesday due to the decrease in cheese prices. Traders had anticipated
recent reports and the discovery of bird flu in a few dairy herds would
provide greater support to the market. However, overall milk production
is increasing seasonally and buyers of dairy products on the daily spot
market have not been aggressive. April through June Class III futures
made new contract lows overnight as selling pressure continued. Trading
volume was higher than usual again for an overnight session. Several
reports may impact the market. The Planting Intentions and Quarterly
Grain Stocks reports may provide an indication of feed prices for the
coming year. Thursday afternoon, USDA will release the February
Agricultural Prices report, which will provide the average prices for
the month used in the calculation of income over feed for the Dairy
Margin Coverage program. None of these reports will be direct market
movers. </p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">Traders will be apprehensive over spot trading
Thursday. It has been very unpredictable as cheese prices have been
choppy. Buyers and sellers of cheese are taking care of business on an
as-needed basis rather than on perception. Buyers want to keep a supply
on hand but do not want to build inventory ahead of time and pay for
storage. With current supply readily available for demand, there is
little concern over supply tightness.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Butter price seems comfortable in the current
price range it has been in for the past month. Even though the higher
demand period for Easter has been filled, cash price remains supported
as regular demand is expected to remain strong, and buyers have been
building inventory as a hedge against tighter supply and higher prices,
preparing for later demand. </p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJDSJREkuaKfgAVunBZ6naqNGmG2C-AycxnjadRUx9maiBuFo-MfwnwHWkixMVg0WzFo8v7NNLfj6djEjE8PO8ZpU7KxCZBEnhFhAw_XdT9_XChXQ4DCxz8zYR7M6Wu5GCsxKyonwr33dVzqKNpMmrlBQlhIf79yy45uR38tfJF-QpvXkz3I4xm2CvjIQi/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-77980942796005659112024-03-27T14:43:00.000-07:002024-03-27T14:43:32.424-07:00Wednesday Closing Dairy Market Update - Milk Production is Steadily Increasing<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">Class III milk futures took a beating again
today with the May contract falling to a new contract low. June and July
contracts fell to new lows. The market remains bearish with little to
make it move higher at present. This may not change much until we move
through spring flush as there is sufficient milk for demand from both
bottling and manufacturing. Milk production is improving seasonally
resulting in spot milk prices in the Midwest running as much as $6.00
below class with most loads from $3.50 below to steady with class. Lower
milk output than a year ago should be tightening the market, but
reduced demand keeps this from becoming an issue. Demand should increase
during the second half of the year, which may then tighten supply, but
it will be up to demand to provide price support. Wishing the market
moves higher will not get it done. There is strong demand for
replacement heifers even at the current milk prices. Farmers continue to
try to keep barns full and milk output strong.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.03</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$16.76</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.36</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.35</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">Dairy Market News indicates that demand for
cheese has been a bit more active recently. This may be based on certain
varieties of cheese and not just overall demand. However, the increase
in demand is not tightening supply. American cheese inventory decreased
in February indicating good demand compared to production, but buyers of
cheese are not stepping up very aggressively. Blocks might move to a
new low again soon which would put the price back to the level of July
2023.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">Retail demand is reported to be strong as the
Easter weekend is near. Retail has already prepared to meet the
increased demand. Retailers will need to restock shelves after the
holiday which could bring buyers into the spot market more aggressively
at the beginning of next week. However, there is sufficient supply to
meet the demand. Plentiful cream supplies at reasonable prices will keep
churning active.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed down 5.75 cents per bushel at
$4.2675, May soybeans closed down 6.50 cents at $11.9250 and May soybean
meal closed down $.80 per ton at $339.00. May Chicago wheat closed up
4.00 cents at $5.4750. June live cattle closed up $0.30 at $178.68. May
crude oil is up $.09 per barrel at $81.71. The Dow Jones Industrial
Average is up 478 points at 39,760 with the NASDAQ is up 84 points at
16,400.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/tags/electrolyte" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="3359" data-original-width="2610" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjyAMsesusZKfzSRXdj16S2cgEWLUcsAZ8sJHoEvu4kwH3so_YnmlGWddWLV5BA9y5el4eWTvdDUI_B-jW6owUdmGiV5Pa95bJ0KYPeJ3KEohZEA2vjm6NprNFCevC-zHgb1Pg4z7zO31q4SlBZ4YLMWsMGfD1sxMVd78jMpT-tehmXsYPIzHRkwFidw7m5/w498-h640/Electrolytes.png" width="498" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-63345385747898142912024-03-27T12:25:00.000-07:002024-03-27T12:25:08.466-07:00Wednesday Midday Dairy Market Summary - Cheese Shows Further Weakness<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">CORN:</td>
<td nowrap="nowrap">6 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEANS:</td>
<td nowrap="nowrap">7 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEAN MEAL:</td>
<td nowrap="nowrap">$0.90 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">LIVE CATTLE:</td>
<td nowrap="nowrap">$0.52 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">DOW JONES:</td>
<td nowrap="nowrap">253 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">NASDAQ:</td>
<td nowrap="nowrap">16 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">CRUDE OIL:</td>
<td nowrap="nowrap">$0.38 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Block cheese price declined 1.75 cents closing
at $1.4075 with three loads traded. Barrel cheese price declined 1.75
cents, closing at $1.42 with one load traded. Dry whey price gained 0.25
cent closing at 40.25 cents with no loads traded. Class III futures are
unchanged to 32 cents lower. The weakness triggered selling as those
who had been bullish recently liquidated their positions. Butter price
increased a penny closing at $2.84 with one load traded. Grade A nonfat
dry milk price slipped 0.25 cent closing at 1.12 with four loads traded.
Class IV futures show trade in only the September contract with the
price 5 cents higher. Butter futures are 0.10 lower to 4.50 cents
higher. Dry whey futures are 0.42 cent lower to 0.30 cent higher. The
markets are just not ready to establish long-term support and may
continue to chop around.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/tags/procrypt" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="3350" data-original-width="2575" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjT0ufzp4qnvdf8raxxyXZhBbGxhohwWv_mAI5pYxcMvDtGUwqLNXxL8FVuHs0DAKXGLncL-vonGNr-yo-4svhypZzbC1JGNmzpNxjPSWrqPhxxwvVb7JM3mbL8uFMKLxa99IC1s4PHw-nWcqaOTmoUhGFCqbmp-I_TMTJXMCQR3jwn1w2ucK6lVuIaJEM8/w492-h640/Procrypt.jpg" width="492" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-50668269970554992732024-03-27T06:27:00.000-07:002024-03-27T06:27:52.705-07:00Wednesday Morning Dairy Market Update - Traders Wait for Further Fundamental Direction<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 5 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 6 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 1 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">3 to 5 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 6 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to $1 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 4 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">The increase in milk futures may have run its
course for the time being. It seems underlying cash is not supportive of
stronger prices at present. Traders are anxious to find support due to
the extended period of low milk prices. However, the market is not ready
to trend higher. There are some longer-term positive fundamentals, but
the time of year is not right to find solid support. Some have been
trading the price swings in the hope of making a profit. This heightens
the movement of futures. The milk production and cold storage reports
have been digested with a focus on daily spot prices. The February
Slaughter report did not indicate culling is increasing as much as
anticipated.</p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">Cheese prices may remain choppy as supply and
demand seem to be balanced for now. Some manufacturing plants are
running at or near capacity as spring flush progresses. Some plants are
short of milk due to farms being lost or milk production decreasing.
Spot milk prices remain reasonable and generally below class, allowing
plants that need more milk to find some for purchase at reasonable
prices. Buyers of cheese do not show concern over supply at present.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Butter supply in cold storage was a little
more than expected, which may have caused buyers to be less aggressive
in the spot market on Tuesday. However, the current supply is not
burdensome with much of the price movement of cash being regular
business being done. Price may remain in a range for a time.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/dyna-sile-and-the-importance-of-silage-inoculants" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="3300" data-original-width="2550" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTTjAnKi1kOC5MefovLdXx3_YVzq8zoFmk2CxRq7E7f5VdYn9Q2NhCDzKLfhJu_owPGuR6-daYXz2wNSXpBtFdUaxSIsfxC9TaFpXqYN6FIaIwhqYyr3v6GZTnjQ-r8ZGubjBWUMRGvRT3t5MsObmjL3eCYKoXGLXZgXv3H009EBGjkVFPT4tUrUzZ8P7e/w494-h640/dynasile%20flyer%203%20no%20marks%20lo%20res-page-001.jpg" width="494" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-72865980082331590242024-03-26T14:32:00.000-07:002024-03-26T14:32:17.374-07:00Tuesday Closing Dairy Market Update - Dairy Cattle Slaughter Declines<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">Class III prices were able to close higher
despite the little negativity of the spot market. Blocks showing
weakness and barrels not being able to hold the highs resulted in some
pressure on the market but not enough to close lower. The market will
need to prove itself before prices trend higher. It seems like some
factors may provide support as the year progresses, but the current
market may remain choppy. Concern over the disease on some farms in
Texas and Kansas has been identified and press releases are available.
It appears it is not widespread and is under control currently. There is
no anticipation of heavy culling of cattle and no threat to the milk
supply. Since the news became available, there has been little impact on
milk futures or the underlying cash prices. Milk futures have reacted
more to the perception of milk production or cold storage reports than
the news of the disease.</p><p class="news_content">February dairy cattle slaughter totaled
252,700 head which was an increase of 2,550 head from January, but down
13,800 head from February 2023. Slaughter is not increasing as had been
anticipated due to the lower milk prices. Interestingly, this February
had one extra day than February 2023, but the slaughter was lower.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.21</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$16.96</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.52</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.67</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">Barrels moved higher during spot trading but
could not hold the high and slipped back. Price remained higher but it
did add a bit of caution to the market as buyers did not remain
aggressive. It appears cheese prices may chop around for a period and
the market seems to be balanced with supply and demand. Buyers and
sellers will do business as they need. They are not concerned about
supply later in the year at this point.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">The weakness of butter indicates buyers and
sellers are comfortable with the price where it currently is. Business
is being done without any fanfare or concern over supply. The increase
in inventory in February may have had some influence as buyers held
back, but the weakness was likely the result of sellers being more
aggressive as they needed to move supply.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed down 5.25 cents per bushel at
$4.3250, May soybeans closed down 10.25 cents at $11.9900 and May
soybean meal closed down $1.90 per ton at $339.80. May Chicago wheat
closed down 11.50 cents at $5.4350. June live cattle closed down $3.23
at $178.38. May crude oil is down $0.33 per barrel at $81.62. The Dow
Jones Industrial Average is down 31 points at 39,282 with the NASDAQ
down 69 points at 16,316.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbS0Z6_wkQ7nvJY-v0NyED3pF5W9hWmwOhLyKNE3oH6EdGRTrzst5gwxrWnS5FlRjTEMFk4Bf7l85ToPdYqNFRIMZ4wCTRWpdH6rv0MPfiTbFc6964zAVSn0XojmeocCRAzH0KMfsMoJOtdujEavXNsazumn-o0T3DHJ79ux60U_3TxSOU84xDiQrBh6tr/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-31428732831285922372024-03-26T11:18:00.000-07:002024-03-26T11:18:22.254-07:00Tuesday Midday Dairy Market Summary - Butter and Blocks Slip<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CORN:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">3 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEANS:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">9 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEAN MEAL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1.20 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">LIVE CATTLE:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$2.85 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">DOW JONES:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">83 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">NASDAQ:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">46 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CRUDE OIL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$0.14 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Block cheese price declined by 0.25 cent to
close at $1.4250 with nine loads traded. Barrel cheese price gained 0.75
cent closing at $1.4375 with five loads traded. Dry whey price
increased by 0.50 cent, closing at 40 cents with one load traded. Class
III futures backed off their highs during and after spot trading.
Futures are currently 1 cent lower to 10 cents higher. Butter price
declined 3.25 cents, closing at $2.83 with two loads traded. Grade A
nonfat dry milk price remained unchanged at $1.1225 with no loads
traded. Class IV futures have not yet been traded. Butter futures are
0.25 to 2.50 cents lower. Dry whey futures are 0.57 cent lower to 1.10
cents higher.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1080" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWuk-CKIlpwwlVc4fvl24hga3zbm4L-l0XP16kkk2k8NpO0qftQ0kb6HOB8w3kQ_Wvd0myotnfmJFdoxprj_c7tr2ly_fpgUake8IayBI1qLDXsGCwVlE_RAcgNgqciZJxTSH9xNGnzbmeyyFwnt0w52srGNwy2t6XfN2kdk2Nnm_8sl1B5yPN3WVKqwS3/w640-h640/How%20To.png" width="640" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-28431405310716549862024-03-26T06:36:00.000-07:002024-03-26T06:36:57.054-07:00Tuesday Morning Dairy Market Update - Good Volume and Higher Prices in Overnight Dairy Trade<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">Class III Milk Futures:</td>
<td nowrap="nowrap">10 to 15 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">Class IV Milk Futures:</td>
<td nowrap="nowrap">5 to 10 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">Butter Futures:</td>
<td nowrap="nowrap">1 to 2 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">Corn Futures:</td>
<td nowrap="nowrap">Steady to 1 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">Soybean Futures:</td>
<td nowrap="nowrap">4 to 6 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">Soybean Meal Futures:</td>
<td nowrap="nowrap">$1 to $2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">Wheat Futures:</td>
<td nowrap="nowrap">4 to 6 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">The gains in milk futures on Monday extended
through the overnight trade. Overnight trade may have been supported by
the fact that American cheese inventory declined in February. Inventory
generally increases as production exceeds demand and stocks are built.
If milk production continues to remain below a year earlier and demand
increases as the year progresses, higher milk prices may unfold.
However, eating away from home is more expensive which may limit
restaurant traffic and higher prices may impact consumer buying habits.
Lower milk production may be sufficient to satisfy lower demand.
Overnight trading in Class III futures showed good volume with prices
ranging from 10-21 cents higher.</p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">The increase in cheese prices resulted in
higher Class III futures prices as traders initially liquidated their
short positions. The February Cold Storage report showed a decrease in
inventory for American cheese but an overall increase in total cheese
stocks. The buying of underlying cash may not be impacted much by the
report, but it may provide overall support to the market.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Butter inventory increased significantly in
February but is not unusual for this time of year. Manufacturers wanted
to build inventory to prepare for upcoming demand. This is not expected
to be bearish for the market but may make buyers more comfortable with
current supplies. Price is expected to remain choppy.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/dyna-sile-and-the-importance-of-silage-inoculants" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="6600" data-original-width="5100" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYjnGTSBtOX3cMNlsHCzCt2dYh78Mky8c0vWU4mpScfupOi1kRnjr9SlMEaofvm7cxOmjVyRqqqk4dQt4bgfvMCDdZ3YDFasCEIoA6aXeVDj-dqFsD6pAzQb6mfQeTrQBoIm-sdgvITi1oSQV8xeJfKbgZUOpBgg-d-C_XIEwidSajmEl4rqxVcEysFkZi/w494-h640/8%202016.jpg" width="494" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-66438681292871193162024-03-25T12:40:00.000-07:002024-03-25T12:40:24.378-07:00Wildfires wreak havoc on southern US dairy industry<div class="byline" id="byline" style="background-color: white; box-sizing: border-box; color: #333333; font-family: sans-serif; font-size: 18.7px; font-weight: 700; margin-bottom: 10px;"><i><a href="https://dairystar.com/stories/wildfires-wreak-havoc-on-southern-us-dairy-industry,23610?" target="_blank">By Lee Mielke</a></i></div><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The U.S. Department of Agriculture lowered its milk production forecast in its fifth consecutive World Agriculture Supply and Demand Estimates report, citing a smaller dairy cow inventory and slower growth in output per cow.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">2024 production and marketings were projected at 227.3 and 226.3 billion pounds, respectively, down 900,000 pounds on both from last month’s estimate. If realized, both would only be up 900,000 pounds, or 0.4%, from 2023.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Cheese is expected to average $1.71 per pound in 2024, up 2 cents from last month’s estimate, and compares to $1.7593 in 2023 and $2.1122 in 2022.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Butter was projected to average $2.80 per pound, up 3 cents from last month’s estimate, and compares to $2.6170 in 2023 and $2.8665 in 2022.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Nonfat dry milk will average $1.21 per pound in 2024, down 2.50 cents from a month ago, and compares to $1.1856 in 2023 and $1.6851 in 2022.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The dry whey average was projected at 45 cents per pound, down 3 cents from a month ago, and compares to 36.18 cents in 2023 and 60.57 cents in 2022.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Class III milk is expected to average $17.15 per hundredweight in 2024, up a nickel from last month’s estimate, and compares to $17.02 in 2023 and $21.96 in 2022. The Class IV average, at $20.10, is up a dime from a month ago, and compares to the 2023 average of $19.12 and $24.47 in 2022.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The WASDE lowered world ending stocks of corn and soybeans but left U.S. stocks unchanged. The corn outlook was unchanged, but the season-average corn price was lowered to $4.75 per bushel. Global coarse grain production was forecasted 2.7 million tons lower to 1.5 billion.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The foreign grain outlook is for reduced production, larger trade and smaller ending stocks. Foreign corn production was lowered due to declines in South Africa, Ukraine, Mexico, Venezuela and Russia, partly offset by increases for Argentina and Syria. South Africa was down, reflecting lower yield prospects. Mexico was cut based on expectations of lower winter corn area. Ukraine and Russia were reduced based on reported harvest results to-date, while Argentina was raised based on higher expected area.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The soybean outlook was also unchanged as were the season-average soybean and soybean meal price forecasts. Global soybean production was reduced 1.4 million tons on lower production in Brazil and South Africa. Global supply and demand forecasts included lower beginning stocks, lower production, lower crush, higher exports and lower ending stocks compared to last month, according to the WASDE.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The week ending March 2 saw 59,800 dairy cows go to slaughter, down 400 from the previous week and 7,100, or 10.6%, below a year ago. Year-to-date, 516,700 head have been culled, down 89,400, or 14.8%, from a year ago.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">In an update from HighGround Dairy’s Betty Berning and her report two weeks ago on the wildfire in Texas, Berning said, “Dairy farmers are reporting sick cattle in the Panhandle. Symptoms vary, but a consistent part of the reports is a drop in milk production ranging, on average, from 10-30 pounds per cow across the herd, according to Dr. Alexis Thompson with the Texas A&M Veterinary Medical Diagnostic Laboratory. A thick, gel-like milk, resembling mastitis, has been observed in the sick cows. Some bounce back after being sick, returning to normal milk output, but some do not come back fully, and some come back very marginally.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“The extent of the problem is still under evaluation. Not every farm in the area is affected, and even among the impacted herds, only a portion of the cows are showing signs of illness, estimated at around 5%-20%. The cause of the ailment is under investigation by Texas A&M and the state veterinarian. Some in the industry have cited a common ailment, winter dysentery, as the likely disease, but tests have been negative.”</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Cash cheese prices appeared to reverse direction the second week of March. The cheddar blocks, after losing 9 cents the previous week, fell to $1.4350 per pound Monday, lowest since Jan. 5, then jumped to $1.4725 Thursday, but closed Friday at $1.47, up a penny on the week, though 52.75 cents below a year ago when they gained almost 22 cents and hit $1.9975.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The barrels, after plunging 16.25 cents the previous week, fell to $1.42 Tuesday, also the lowest since Jan. 5, but reversed direction Wednesday after not seeing a gain in 11 consecutive sessions, and closed Friday at $1.4425. That’s down 4.50 cents on the week, 51.75 cents below a year ago and a typical 2.75 cents below the blocks. There were 13 loads of block traded on the week and 23 of barrel.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Dairy Market News reports that cheese demand is edging higher. Cheese plant contacts differ on what’s behind the bearish prices. Eastern region buyers have begun to add to their orders, for both retail and pizzeria cheese. Milk availability is growing. Mid-week spot milk prices ranged $3.50-under to 50 cents-over Class III; however, there were offers as low as $6-under Class. Last year, they ranged $12- to $4-under Class. Increased spot milk access was attributed to a number of factors, according to DMN, most notably: multiple cheese plants are on scheduled downtime, school districts’ current and upcoming spring break has Class I plants pulling less milk, and seasonal upticks in farm milk output.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Western cheese demand remains steady. Cream cheese demand is picking up. Export channels are steady to stronger, and second and third quarter shipments continue to be booked, DMN said. Class III milk is readily available, and vats are running strong to steady schedules, so there is plenty of cheese available.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">StoneX blamed low demand for the falling cheese prices.<span class="Apple-converted-space" style="box-sizing: border-box;"> </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Whether it’s a slowdown in mid-tier foodservice restaurants (crippled by higher costs and fewer workers at that price point), general inflation slowing retail demand for cheese, Ozempic (and similar weight loss drugs) killing appetites, hand-to-mouth buying at the wholesale level due to increased cost of money, or some combination of these and other factors, the demand side of the cheese equation remains lackluster,” StoneX said.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">HighGround Dairy’s Eric Meyer warned in the March 8 Cheese Market News of the additional cheese capacity that came online in late 2023 with more to come through the first half of 2025. That could invoke sustained pressure on price, he said.<span class="Apple-converted-space" style="box-sizing: border-box;"> </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Recent estimates suggest this new production equates to around 6% of present annual cheese output,” Meyer said. “That’s a lot of product that will need to find a home. Second, while the U.S. stock market and Bitcoin keep making all-time highs, cheese consumption trends this past year have not been bright.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Dairy Management Inc.’s Total Dairy Retail Report stated that national retail cheese volume was virtually flat in 2023 versus the prior year, with growth in reverse each year since 2020. The consumer’s return to restaurants post-COVID has contributed to a portion of that decline, but inflation and, as a result, shrinkflation (smaller package sizes) have also contributed to the retail struggles.”</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">January’s Dairy Supply and Utilization report added confirmation. Total cheese consumption, at 1.2 billion pounds, was down 2% from a year ago. Domestic disappearance was down 2.9% while exports, thankfully, were up 12.7%.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">HighGround Dairy’s Alyssa Badger, speaking in the March 18 Dairy Radio Now broadcast, said cheese consumption was not only down from 2023 levels but from 2022 as well.<span class="Apple-converted-space" style="box-sizing: border-box;"> </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“That weak stateside demand kept the market under a bit of pressure,” Badger said, as CME prices were trading $1.40-$1.50 per pound then.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Butter usage, at 175.8 million pounds, was the exact opposite, Badger said, up 8.5%, driven by a 15.7 million pound, 10.5% increase in domestic demand and reminiscent of the demand bubble of 2022. It also accounted for 97% of total butter consumption, as butter exports were down 33.3% from a year ago.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Butter stocks are not as aggressively thin as they were in January 2022, but the elevated use and general nervousness about tight milk and fat supplies have kept prices trending at similar levels for this time of year,” Badger said.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Nonfat dry milk utilization fell to 190.9 million pounds, down 7.7%, lowest January volume since 2020, according to Badger, who blamed struggling international demand. Exports dropped 14%, in large part due to a 22% decline in shipments to Mexico alone, which supported exports in 2023. Domestic use was up 9%.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Whey disappearance amounted to 79.8 million pounds, up 2.6%, with domestic use up 2.5% and exports up 2.8%. Whey protein concentrate disappearance was up for the 11th month over the last 12, according to Badger.<span class="Apple-converted-space" style="box-sizing: border-box;"> </span></p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Stocks narrowed in January, and prices continued climbing,” Badger said.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">CME butter climbed to $2.8475 per pound Thursday but closed Friday at $2.8225, up 2 cents on the week and 42.25 cents above a year ago. There were eight sales reported on the week at the CME.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Butter production is somewhat steady with previous weeks, DMN said, but churning has slowed as more plants increase microfixing (thawing 68-pound blocks and cutting them into 1 pound blocks or quarter-pound sticks). Cream remains available, and most butter plants have cream intakes locked in for the month. Cream demand from other manufacturers is trending seasonally higher.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Western butter makers are running strong to steady production, DMN said. Some are working to make inventory goals ahead of summer maintenance projects along with meeting remaining first quarter demand. Processors say cream yields in milk and cream demand are strengthening. Cream availability is tighter, but there are no shortages. Domestic butter usage is strong, and earlier spring holidays are encouraging more consistent demand, although food service demand is weakening. Canadian purchasers are showing stronger interest, but demand is more moderate elsewhere, according to DMN.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Grade A nonfat dry milk saw its Friday finish at $1.1625 per pound, down 0.75 cents on the week and a quarter-cent below a year ago, with 11 sales reported.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Dry whey climbed to a Friday close at 44.50 cents per pound, up 3.50 cents on the week on unfilled bids, but that’s 2.25 cents below a year ago.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Tuesday’s GDT Pulse saw 4.4 million pounds of product sold, up from 4.28 million Feb. 27, with 100% of the total offered sold. There was 544,536 pounds more instant whole milk powder and 105,820 pounds more regular whole milk powder sold versus the last Pulse, with 22,000 more pounds of skim milk powder on offer sold in this auction.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">The Consortium for Common Food Names reports that U.S cheesemakers did well at this year’s World Championship Cheese Contest, winning 84 best in class finishes in Madison, Wisconsin. A total of 25 countries participated in what is billed as the world’s premier cheese, butter and yogurt competition. The Wisconsin Cheese Makers Association has hosted the biennial contest since 1957.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">Schuman Cheese’s Lake Country Dairy processors in Turtle Lake, Wisconsin, won both best of class and second award in the parmesan division, beating out an Italian competitor, and won top billing for its Cello Artisan extra aged asiago, ahead of a Danish entry. Additionally, Lactalis Belmont from Belmont, Wisconsin, won top brie over a French processor, and U.S. cheesemakers swept the Havarti category, beating two Danish contestants.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“The results are especially notable due to the European Union’s ongoing campaign to confiscate these cheese terms as geographical indications that can only be used by European producers,” said Jaime Castaneda, executive director of the consortium. “While the EU would like to think that its producers own the exclusive right to make and sell parmesan, Havarti, asiago and other types of cheeses, it’s clear that U.S. and other cheesemakers can match their quality and then some.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“Just like in 2017, in the United Kingdom, when an American parmesan won out over all other parmesan entries, including every Parmigiano Reggiano contestant, this year’s World Cheese Awards showed the strength of U.S. cheeses when unleashed to compete on a level playing field. We’re thrilled to see American cheesemakers get the recognition that they deserve, and we look forward to continuing to fight for them and their rights to sell their award-winning cheeses all around the world.”</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">In politics, Green Bay-based American Dairy Coalition called on U.S. Secretary of Agriculture Tom Vilsack and AMS Dairy Programs Deputy Administrator Dana Coale this week to grant the American Farm Bureau Federation’s official request for an emergency decision to return the Class I skim price formula to the higher of.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“The AFBF request was read into the record on the last day of the Federal Milk Marketing Order hearing Jan. 30 by Farm Bureau economist Danny Munch,” ADC said. “Nearly five years of the ‘average of’ method has resulted in net losses to farmers of $1.1 billion in Class I revenue, alone, which is predicted to exceed $1.6 billion by the end of 2024.”</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">More than 30 state, regional and national dairy organizations, state farm bureaus and cooperatives as well as nearly 200 individual dairy producers and allied industry service providers have signed the ADC letter along with ADC president Walt Moore, a Pennsylvania dairy farmer. Signatories cover 33 states from coast to coast.</p><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;">“This is an emergency,” ADC said. “The 2022 Ag Census showed a staggering 40% drop in the number of U.S. dairy farms in five years. The move away from the higher of is contributing to dairy margin losses and negatively impacting dairy farm families and the rural communities that rely on them.”</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="180" data-original-width="630" height="182" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiz-KB6lOJXiUFn2qT8mgH4hcFwM3CHShgk98w2Ml7caJPFFxqlgsmeypvxsWE3mdNiMl_r_lATDO4Inrc1DgAS98dIrHr40MUCaf_K7aiqzM3Mn69ootjvwORp-wC8_kpfX3Hgp7n-uWPgNde1cJE9ZaWiP7ziu9XWU2WoKip5-b2LvCWip7USr7QnuFVQ/w640-h182/July%2018%20ICA%20web%20ad.jpg" width="640" /></a></div><br /><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: "open sans", sans-serif; font-size: 17px !important; font-stretch: unset !important; line-height: 1.5; margin-bottom: 15px !important; margin-left: 0px; margin-right: 0px; margin-top: 0px;"><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-53320361701719535932024-03-25T10:57:00.000-07:002024-03-25T10:57:36.095-07:00Monday Midday Dairy Market Summary - Cash Shows Strength<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CORN:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEANS:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">14 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEAN MEAL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1.80 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">LIVE CATTLE:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1.32 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">DOW JONES:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">151 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">NASDAQ:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">16 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CRUDE OIL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1.14 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Block cheese price gained 3.50 cents, closing
at $1.4275 with seven loads traded. Barrel cheese price gained 0.50
cent, closing at $1.43 with nine loads traded. This triggered buying
interest in Class III futures about 20 to 30 cents higher during spot
trading. However, futures have trimmed some of those gains as the
kneejerk reaction ran its course. It will take more cash strength to
turn traders bullish in the longer term. Current Class III futures are 1
cent lower to 21 cents higher. Butter price increased 5.50 cents,
closing at $2.8625 with nine loads traded. Grade A nonfat dry milk price
increased 1.50 cents, closing at $1.1225 with seven loads traded. Class
IV futures have not yet been traded. Butter futures are 0.80 cents
lower to 2.47 cents higher. Dry whey futures are 0.50 to 0.85 cent
higher. USDA will release the February Cold Storage report Monday
afternoon. There will be no Dairy Revenue Protection prices released due
to the report.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgHvYaSIwYWE7K3p-Cl1NYoYd2hQaQ75yL38zqWeiEwI-CHVbmEGSQGNrJR-ngqk8rBJ6pkczR0KBtX708YrJuPfNlEMr1D66sN-2cAa3qcMhZWZFUICpKYQTmM2Fwi_GckgSBjPkwVd75Nxtj7_SAfNmDoN8WZT2FSF1TT1hwuRfcw0KwZJuN7DSZ68NJ9/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-35050050751211647362024-03-25T06:53:00.000-07:002024-03-25T06:53:41.193-07:00Monday Morning Dairy Market Update - Active Overnight Trading<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 1 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 1 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1 to $2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 6 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">Class III milk futures will have much to
recover from after the decline last week. The anticipation of strength
due to lower milk production compared to last year was short-lived as
buyers on the spot market did not share the same concern. For now, there
is sufficient milk supply to meet bottling and manufacturing needs.
Milk production is slowly increasing seasonally, which eliminates the
concern over supply for the time being. Lower prices will cure lower
prices, but the duration of the lower prices will be difficult to
predict.</p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">Cheese prices should find a bottom as prices
may move to levels at which buyers will be willing to purchase and pay
for storage. The milk supply may not be as available during the summer
and fall when demand generally increases, which then would improve milk
prices. The futures market has some of that already factored in with
cheese futures around $0.40 per pound above the current spot price.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Price is expected to remain in a range for a
time. Easter demand has been filled and regular demand is now a factor
in the market. Supply and demand seem to be balanced for the time being.
USDA will release the February Cold Storage report Monday afternoon,
comparing inventory to January and a year ago.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com/" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="480" data-original-width="514" height="598" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGfydF5x-8U7-xInc3p-pEx0E75-X0pWqJYBi8MQPzzemWdwqh_E05q9nXDEaWVV-_Hl0x5LN89M3nTMTVQlKWyAqoaI25C50txHXBcP1_gddZO0r5gSsFG7Yie7GoO2HuWyWJ9M_bzGn4qAHpqDZ56nEFLhnAtNk8CHuScNYphQIbgwItxFVsUZpSqJ2c/w640-h598/424932598_6573519142135_4837956442516459670_n.jpg" width="640" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-40117317615075652762024-03-22T14:53:00.000-07:002024-03-22T14:53:04.479-07:00Friday Closing Dairy Market Update - Global Dairy Trade Auction Average Down 2.8%<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">The first half of the week was positive for
milk futures, but the optimism traders had with the milk production
report quickly dissipated without support of underlying cash. April and
May Class III futures made new contract lows as cheese prices fell back.
All categories showed a decline in price this week except barrels.</p><p class="news_content">The milk production report showed lower
production in February but that was already absorbed into the market.
The GDT auction took place earlier this week and showed the
trade-weighted average declining 2.8% from the previous event. There
were 19,655 metric tons (mt) sold during the event. Anhydrous milk fat
price increased 2.5% to $6,794 mt or $3.08 per pound. Butter decreased
by 1.4% to $6,408 mt or $2.91 per pound. Cheddar cheese price decreased
1.9% to $4,192 mt or $1.90 per pound. Lactose decreased 4.4% to $778 mt
or $0.35 per pound. Mozzarella decreased 1% to $3,905 mt or $1.77 per
pound. Skim milk powder decreased 4.8% to $2,517 mt or $1.14 per pound.
The whole milk powder price decreased 4.2% to $3,143 mt or $1.43 per
pound.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.05</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$16.81</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.37</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.55</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">For the week, blocks declined 7.75 cents with
24 loads traded. Barrels were unchanged from last Friday with three
loads traded. Dry whey price declined 5 cents with seven loads traded.
It turned out to be a negative week, even though traders began the week
with a fair amount of optimism. Action this week indicates it may be a
while before milk prices trend higher.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">For the week, butter declined 1.50 cents with
six loads traded. Grade A nonfat dry milk price declined by 5.50 cents
with 13 loads traded. Price is expected to remain in range for much of
the year's first half. USDA will release the February Cold Storage
report on Monday indicating the amount of butter in storage and how much
was added during the month.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed down 1.50 cents per bushel at
$4.3925, May soybeans closed down 19.50 cents at $11.9250 and May
soybean meal closed down $5.20 per ton at $339.10. May Chicago wheat
closed up 8 cents at $5.5475. June live cattle closed down $1.60 at
$182.90. May crude oil is down $0.44 per barrel at $80.63. The Dow Jones
Industrial Average is down 305 points at 39,476 with the NASDAQ up 27
points at 16,429.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/categories/dairy" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="396" data-original-width="612" height="414" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7aqFwHb8OUcYE8g2dDqakkoGzy1NXgD47ImIGq7MSU8ArdEujuguPp-QZMN4CxnlBvm-cyPC_t-XI1Yc8ORcxaBQZI8no8PwPdgxSnZUXExpZYZa4gKiVgY0M-WCV5Yqh4WdyNOT53G6iKDrqT5EsqN8aIQ27rf3EKuimdUV4v64K5kX_R2p27t2wDdfo/w640-h414/half%20page%20dairy%202020%20v2%20copy.jpg" width="640" /></a></div><br /><p class="news_content"><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-31283676997942393332024-03-22T14:51:00.000-07:002024-03-22T14:51:42.848-07:00Friday Midday Dairy Market Summary - Cheese Remains Under Pressure<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">CORN:</td>
<td nowrap="nowrap">1 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEANS:</td>
<td nowrap="nowrap">19 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEAN MEAL:</td>
<td nowrap="nowrap">$5 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">LIVE CATTLE:</td>
<td nowrap="nowrap">$0.95</td>
</tr>
<tr>
<td nowrap="nowrap">DOW JONES:</td>
<td nowrap="nowrap">201 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap">NASDAQ:</td>
<td nowrap="nowrap">44 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">CRUDE OIL:</td>
<td nowrap="nowrap">$0.40 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Block cheese price decreased by 0.50 cent,
closing at $1.3925 with 13 loads traded. The barrel cheese price
decreased 4.50 cents to close at $1.4250 with two loads traded. Dry whey
price decreased a penny to close at 39.50 cents with two loads traded.
Class III futures are 18 cents lower to 1 cent higher. Butter price
decreased by 1.25 cents to close at $2.8075 with one load traded. The
Grade A nonfat dry milk price remained unchanged at $1.1075 with one
load traded.</p><p class="news_content">Class IV futures are steady with trading
activity only in the June contract. Butter futures are steady to 2.50
cents higher. Dry whey futures are 0.75 cent lower to 0.25 cent higher.</p><p>
</p><p class="news_content">The Department of Trade and Consumer
Protection released a statement Friday on the illness seen in Texas
dairy. This is part of their statement, "An unknown cause of illness has
been reported in dairy cows in Texas. Affected cows presented with
decreased milk production, decreased feed consumption and reduced rumen
motility. While there is limited information available about the cases
at this time, older, late-lactation cows appear most likely to be
affected. There are no reports of increased death losses and young stock
is not reported to be affected. USDA APHIS Veterinary Services is
working closely with Texas Animal Health Commission and neighboring
states as they continue to investigate potential cases."</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/tags/electrolyte" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="3359" data-original-width="2610" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2UUPW_qa9jTurt71Bj_zlonIhn5PMlqlaUpOLrY-RmxKisKf0IE6jsIElzSvYxuOiqoVSh-BUwQE4H9n6PeEHcigEbnTC6jX_LaQYCHB-YALdgWAcut8MA_zIph19kR9biBnr1AliJWZ6GmKUiKPCHUMVr43VaoCFVHIw_7GJEBIjqy0NW7I72U_k_bQa/w498-h640/Electrolytes.png" width="498" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-38958780033769315682024-03-22T05:32:00.000-07:002024-03-22T05:32:34.542-07:00Friday Morning Dairy Market Update - Traders Uncertain of Cash Strength<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 6 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 1 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 3 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">8 to 12 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$2 to $3 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 4 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">The April, May, and June Class III milk
contracts established new lows Thursday in reaction to the weakness of
cheese. Even though those same contracts are higher overnight, there may
be further pressure Friday due to the selling interest remaining in the
spot market at the close of trading. Traders are using the volatility
of futures to take a quick profit if one is realized. Futures may be
choppy ahead of spot trading as the anticipation of strength due to
lower milk production in February does not currently seem to be a
factor. A winter storm is moving across numerous states but that is not
expected to have any real impact on the market as delays will be minimal
and milk will be processed.</p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">The large number of uncovered offers remaining
at the close of spot trading on Thursday suggests selling may be more
aggressive Friday. With that interest in selling, buyers may hold back
to see how aggressive sellers will be as they have cheese to move to the
market. There may be further weakness in cash.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Butter will continue its choppy pattern as the
current market seems to be balanced. Most of the demand for Easter has
been met with regular demand to carry on. Manufacturers are looking
ahead to spring demand and are trying to build inventory for later in
the year. Churning remains active with readily available cream supplies.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVMNaOrPTvIV0THUJRmPr1AFfVjtkgVKDAcwqZf1QSS0DDM2xPbWHPzQEtUaSfCs7dg4NlRUN800AkvipXqaIi0iBAWsppB0iuSIMgdHjsswP0myQd_PA8SQoFNN0OvqOXu_s_5gXizcxgzDH2EjxY4D8zs5x20YM4RCuhXzxAegilAJqp0G3r4Wu3MwZk/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-91222433239745679122024-03-21T15:14:00.000-07:002024-03-21T15:14:28.021-07:00Thursday Closing Dairy Market Summary - Further Selling Pressure Expected<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">There had been some optimism that lower milk
production in February would get the attention of cheese buyers and they
would step up to the plate and purchase more aggressively. That did not
materialize as there was more selling interest in the spot market than
buying interest. The number of offers remaining may indicate a further
downside is possible.</p><p class="news_content">Milk production is improving seasonally as
spring flush is here. Production is running lower than last year but
remains sufficient for demand. Some manufacturing plants are running
near capacity, causing spot milk prices to remain mostly below class.
The increase in cow numbers from January is not pushing milk production
higher but it does indicate numbers are not as tight as had been
anticipated. It is difficult to determine how long milk prices will
remain low and what the impact will be on cow numbers as the year
progresses.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.13</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$16.90</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.43</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.60</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">The bearishness of the cheese market today was
not just the decreasing cheese prices but the volume of uncovered
offers that remained at the close of spot trading. This suggested there
may be further selling pressure on Friday if sellers need to move the
product.</p><p class="news_content">Block price is down to its lowest level since
Dec. 26, 2023. Barrels have not been quite as bearish but have declined
significantly from the high a month ago.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">Butter continues to chop and is likely to
remain in the sideways trading range until we move closer to the summer
and hotter weather. There are sufficient cream supplies for churning
which keep butter available without concern of a tight supply for the
time being. Export interest may be the key to price strength as the year
progresses.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed up 1.75 cents per bushel at
$4.4075, May soybeans closed up 2.50 cents at $12.1200 and May soybean
meal closed up $1.80 per ton at $344.30. May Chicago wheat closed up
1.75 cents at $5.4675. June live cattle closed down $0.28 at $184.50.</p><p>
</p><p class="news_content">May crude oil is down $0.20 per barrel at
$81.07. The Dow Jones Industrial Average is up 269 points at 39,781 with
the NASDAQ up 32 points at 16,402.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com/" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1620" data-original-width="1620" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjnLA-ilEvnerNXWs1XFQK5XDEe7D53GdFh8HYaOxaUdCjD2GoZCR6KdP0TWBuRXZ-b1L24adfwDwlyG7KiO-dZS7HGivOSm2TXZorigV3KTGKSm87WL_TD_8Tmqvdd8H4PzGO65hp6hf9KNkHWY-sIeRb2TaavwxqgcpZK8NBYDFz5INS2m4tLTylCWLHs/w640-h640/Excellerator%202.png" width="640" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-84465201417343227992024-03-21T09:40:00.000-07:002024-03-21T09:40:29.459-07:00Fluid Milk and Cream - Western U.S. Report 12<p>In California, milk production is strengthening. Contacts say balancing plants are busy with heavier volumes to work through. Processors convey open processing capacity in the Central Valley is tight due to multiple extended unplanned downtimes at some plants going through system changeovers/upgrades. Processors say several manufacturing facilities are at full capacity. Contacts note spot milk load sales at flat pricing. Class I demand is lighter with educational facilities cycling through their spring breaks over the next few weeks. Class II, III, and IV demands are strong to steady. According to the California Department of Water Resources, as of March 19, 2024, the state has received 0.61 inches of precipitation above the historical mean during the 2023-24 water year thus far, and reservoir levels are above the historical average. </p><p>Milk production in Arizona is trending seasonally higher. Handlers note spot load availability is tight. Demands for all Classes are strong to steady. </p><p>In New Mexico, milk production is stronger. Processors convey milk volumes are meeting production schedule needs and surplus milk volumes are tight. With approaching session breaks at educational facilities, Class I demand is lighter. All other Class demands are strong to steady. </p><p>Handlers in the Pacific Northwest convey farm level milk output is strengthening. Manufacturers note plentiful to ample milk volumes available for production needs. Demands are strong to steady for all Class manufacturers. Handlers in the Pacific Northwest convey farm level milk output is strengthening. Manufacturers note plentiful to ample milk volumes available for production needs. Demands are strong to steady for all Class manufacturers. </p><p>Milk production in the mountain states of Idaho, Utah, and Colorado, is noted as steady to stronger. Some industry participants say milk volumes from week-to-week have been good, but overall, milk volumes are tighter than a year ago. Class demands are unchanged. Cream is indicated to be readily available throughout the region. Cream demand is stronger. </p><p>Cream multiples moved higher on the top end of both ranges. Stakeholders note spot loads of condensed skim milk are more available and demand is stronger.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdEJz5Og_nLBy3O677G6Fr9Z_4oCZfcTwa5Tb9glX-lH10aOyRNH8vVdaYrV6mYELaCoUsOrgIlFmIfdoTEeqUivoHwzrVdt-2bom-8XXCy0ZTiVnNKWwywrqgFSDpGReyOnKtF8ZcjxtN2MPxjaotH4J2NARuu2Osd3TW0LzBywd2C9e9m3xrTbos5q3Q/s2550/ams_1102_00264-page-001.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="556" data-original-width="2550" height="140" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgdEJz5Og_nLBy3O677G6Fr9Z_4oCZfcTwa5Tb9glX-lH10aOyRNH8vVdaYrV6mYELaCoUsOrgIlFmIfdoTEeqUivoHwzrVdt-2bom-8XXCy0ZTiVnNKWwywrqgFSDpGReyOnKtF8ZcjxtN2MPxjaotH4J2NARuu2Osd3TW0LzBywd2C9e9m3xrTbos5q3Q/w640-h140/ams_1102_00264-page-001.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgphCY_d5s11adIFLV8BN5E_UDgtSZ98oo7mP9NUwzuaK5K0ZVEcgg03NbP0BFrzbmsqgtUTVZPO2V3GGFy3KBrXJe-9MSoGGppaI_4HrL4Gxlfy-ZA8jrWqLkc8pwTUCth8WO_xq89svDD4CZxhnfGZ2MDG7HOERJuS1y7uxhfvcWKDc9s4LpIugJi3oS8/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-80687487157915665672024-03-21T06:54:00.000-07:002024-03-21T06:54:25.720-07:00Thursday Morning Dairy Market Update - Traders Focus on Lower Milk Production<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">6 to 12 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 6 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 1 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 3 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">5 to 7 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$2 to $3 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 to 3 Higher</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">The February Milk Production report was
bullish as far as the decline in milk production, but bearish as far as
cow numbers are concerned. It was not bearish due to cow numbers in the
country being 89,000 head less than February 2023. It was bearish from
the standpoint that cow numbers increased by 10,000 head more than in
January. Of course, the level of milk production will have more impact
on the market if demand improves and bottlers and manufacturers need
more milk to meet that demand. Dairy Market News reports that many
cheese plants are nearing production capacity with spot milk being
offered as much as $6.00 below class. Most of the spot milk in the
country is priced at $3.50 below class to near class price. This may
keep milk prices from seeing too much strength in the near term.</p><p>
<span class="news_header3"><b>CHEESE:</b></span>
<br />
</p><p class="news_content">Cheese buyers may not react to the lower milk
production in the report yesterday as the milk has already been absorbed
into the market. Reduced milk production has not resulted in any
tightness of cheese supply. However, inventory may not be much higher
than a year ago. This would indicate there is a balance of supply and
demand.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Price may have limited upside potential in the
near term as much of the demand for Easter has been filled. Price is
not expected to fall as there seems to be solid support in the market.
The current production level has been keeping up with demand and
increasing inventory. However, inventory may be below a year ago, which
will be seen on the Cold Storage report Monday.</p><p class="news_content"><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/dyna-sile-and-the-importance-of-silage-inoculants" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="3300" data-original-width="2550" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgXuUU0msCW2ilpPf4oZhhoa1IIG-Eu2QgDrVqZDv0bWQX6ObSCtW5MoNehMSgHzG83TDqJAZgrYWlafioB9zMR737825h86Zu9cUtJlm3ok_j2wnCBsWPyjtVIhNOpmV2_FUXX_oEOKVDYH4uOSw1iQrOXWzqb4F96K2IU3djwXOGnENMuzFpAe6C9jup/w494-h640/dynasile%20flyer%203%20no%20marks%20lo%20res-page-001.jpg" width="494" /></a></div><br /><p class="news_content"><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-8785590322817812382024-03-20T16:00:00.000-07:002024-03-20T16:00:18.733-07:00Wednesday Closing Dairy Market Update - Cow Numbers Jump from January<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">Traders tried to focus on the milk production
report today but could not hold Class III futures steady to higher
considering the weakness of barrel cheese and dry whey prices declining.
The February milk production report was friendly for milk production
but bearish for cow numbers.</p><p class="news_content">Milk production in the top 24 states was down
by 1.1% after the adjustment for Leap Day. This was neutral to friendly
to the market as production continues to run below a year ago.</p><p class="news_content">The big news is the number of cows compared to
the previous month. It increased by 8,000 head from January for the top
24 states totaling 8.878 million head, down 61,000 head from January
2023. Milk production in the 50 states decreased by 1.3% when adjusted
for leap day. Cow numbers totaled 9.330 million head, down 89,000 head
from a year ago, but up 10,000 head from January.</p><p class="news_content">It was anticipated that cow numbers would fall
as low milk prices continued. This is somewhat bearish for the market
as milk production remains better than expected due to the level of cow
numbers.</p><p class="news_content">It would initially seem that there had been a
substantial miscalculation of cow numbers in January. However, USDA
revised cow numbers 3,000 head lower in to top 24 states and 5,000 head
lower in the U.S. from what was initially recorded last month. That
makes this even more impressive for February. The April Class I price
was announced today at $19.18, an increase of $0.38 from the previous
month.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.36</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$17.15</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.67</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.79</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">It is likely cheese buyers will not buy cheese
aggressively after the milk production report. Milk production was
lower but cow numbers increased, which would allow for milk production
to improve more quickly if milk prices moved higher sometime over the
next months. It may take longer for milk production to tighten as cow
numbers remain higher than anticipated.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">The butter price remains in a range developed
over the past month. Now that much of the demand for the Easter season
has been filled, the price may continue in this range for a period.
Churning is active with cream supply sufficient for demand. Demand is
strong enough to support the price but not reduce inventory and tighten
supply. The cold storage report on Monday will provide a better picture
of inventory.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed down 0.50 cent per bushel at
$4.39, May soybeans closed up 24 cents at $12.0950 and May soybean meal
closed up $8.60 per ton at $342.50. May Chicago wheat closed down 7.50
cents at $5.45. June live cattle closed down $0.23 at $184.78. May crude
oil is down $1.20 per barrel at $81.53. The Dow Jones Industrial
Average is up 401 points at 39,512 with the NASDAQ up 203 points at
16,369.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/tags/colostrum" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="2048" data-original-width="1593" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiZ5LUHUxG39Ee2SFTWxB9ObmOYNPjU-OvvFpQg0S9vZEclw37AjV75sX8FTNAPG9VuBtSftc1NdH7F9nASrHku57yaspYLc10f3CUn-tQfAmwf_vYIsqQiOjdpW6qNSS7R4q0c4_gczMV7HXo34hpXJ44csUiGRLMT09c77leZMXTMvplXpsAhUa1tehQJ/w498-h640/Immuguard%20dairy%2016%20final-page-001.jpg" width="498" /></a></div><br /><p class="news_content"><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-51455670196815634982024-03-20T13:56:00.000-07:002024-03-20T13:56:50.487-07:00February Milk Production in the United States up 2.2 Percent <p><b>February Milk Production up 2.4 Percent </b> </p><p>Milk production in the 24 major States during February totaled 17.4 billion pounds, up 2.4 percent from February 2023. However, adjusting production for the additional day due to leap year causes February milk production to be down 1.1 percent on a per day basis. January revised production, at 18.3 billion pounds, was down 1.0 percent from January 2023. The January revision represented a decrease of 6 million pounds or less than 0.1 percent from last month's preliminary production estimate. Production per cow in the 24 major States averaged 1,955 pounds for February, 58 pounds above February 2023. The number of milk cows on farms in the 24 major States was 8.88 million head, 61,000 head less than February 2023, but 8,000 head more than January 2024. </p><p><b>February Milk Production in the United States up 2.2 Percent </b></p><p>Milk production in the United States during February totaled 18.1 billion pounds, up 2.2 percent from February 2023. Production per cow in the United States averaged 1,941 pounds for February, 60 pounds above February 2023. The number of milk cows on farms in the United States was 9.33 million head, 89,000 head less than February 2023, but 10,000 head more than January 2024. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPj0XnB-KuMAt80mScxmxiyD8hyCZs5ERRZdW9J_1QCY8B1x7DLUy5IyKQKjhKFHJenUvveV9qMRYCxH-7N53hnkQ3Y6-G9Llu7ISdwgEVRl-IW9GBR0M2-cfFAjFdcoCZFTlIXhDyIRAlHa33WOFKG7yHC4E2-rIdgEquwfzviBKpfTAKxLYft-sIxryq/s2550/Milk%20Production%2003_20_2024.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1093" data-original-width="2550" height="274" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjPj0XnB-KuMAt80mScxmxiyD8hyCZs5ERRZdW9J_1QCY8B1x7DLUy5IyKQKjhKFHJenUvveV9qMRYCxH-7N53hnkQ3Y6-G9Llu7ISdwgEVRl-IW9GBR0M2-cfFAjFdcoCZFTlIXhDyIRAlHa33WOFKG7yHC4E2-rIdgEquwfzviBKpfTAKxLYft-sIxryq/w640-h274/Milk%20Production%2003_20_2024.png" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG4qzEEg5Z97KjQVSciGrC3oPXQ8qXbiswLsCQXQo8aFmfX8hvzRdPynbaeM36gqx7O9dwA1ZvwzusQgPLiiBLYvB-3bWbFPAdTsXGKKEtWkcEZYwNMA4Fc804doRucU8-CPNuZAA0aHyNGtmoqfxdt8IM6Ao7r_OKDMeHlvIKy0fUiTFLsmXfMGzCu26R/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-20696326112028495202024-03-20T11:14:00.000-07:002024-03-20T11:14:48.633-07:00Wednesday Midday Dairy Market Summary - Barrel Cheese Slips<p><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CORN:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEANS:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">19 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">SOYBEAN MEAL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$6.50 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">LIVE CATTLE:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$0.27 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">DOW JONES:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">15 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">NASDAQ:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">20 Points Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">CRUDE OIL:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1.76 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
</p><p class="news_content">Blocks remained unchanged at $1.45 with one
load traded. The barrel price slipped 0.50 cent, closing at $1.4950 with
no loads traded. Dry whey price declined by 2.50 cents, closing at
40.50 cents with three loads traded. Class III futures turned from
mostly higher to lower with prices 3 to 22 cents lower in contracts
through September. Fourth-quarter prices are 3 to 7 cents higher. Butter
price increased 1.75 cents, closing at $2.8375 with no loads traded.
Grade A nonfat dry milk price declined 0.75 cent, closing at $1.1175.
This moves the price down to the lowest level it has been since Sept.
18, 2023. Class IV futures are steady to 4 cents higher. Butter futures
are 0.97 cent lower to 3.00 cents higher. Dry whey futures are 0.30 to
1.25 cents lower. USDA will release the February Milk Production report
Wednesday afternoon.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" imageanchor="1" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="1118" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhG4qzEEg5Z97KjQVSciGrC3oPXQ8qXbiswLsCQXQo8aFmfX8hvzRdPynbaeM36gqx7O9dwA1ZvwzusQgPLiiBLYvB-3bWbFPAdTsXGKKEtWkcEZYwNMA4Fc804doRucU8-CPNuZAA0aHyNGtmoqfxdt8IM6Ao7r_OKDMeHlvIKy0fUiTFLsmXfMGzCu26R/w618-h640/Dyna-Cure.png" width="618" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-9939926700640989702024-03-20T06:29:00.000-07:002024-03-20T06:29:53.156-07:00Wednesday Morning Dairy Market Update - Milk Production Report Today<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 6 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">1 to 2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">5 to 7 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">$1 to $2 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">7 to 9 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">Class III milk futures have been regaining
some losses with contracts likely seeing further strength Wednesday
moving into the milk production report. Most often, the milk production
report is not a large market mover, but much emphasis will be placed on
the level of production and the change in cow numbers. I estimate milk
production to be down 1% compared to last year after the adjustment is
made for Leap Day with cow numbers down 10,000 head from the previous
month. Overall, milk production is slowly increasing as the market moves
through spring flush.</p><p>
<span class="news_header3"><b>CHEESE:</b></span>
<br />
</p><p class="news_content">Prices are expected to remain choppy. Even if
the milk production report is friendly, cheese buyers may not become
more aggressive. The report is for February and that has already had an
impact on cheese production and the production of other dairy products.
It should already be factored into the cash market. </p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">The butter price may stabilize for a period as
demand for Easter has been accounted for and regular demand will carry
on. Demand has been good with manufacturers wanting to build some
inventory. Indications are that inventory continues to lag from a year
ago. The February Cold Storage report will be released on Monday,
confirming the level of supply. </p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com/" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="13800" data-original-width="7207" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidjPN1rswcPHyYNVWnFROooaBvU7h8JQ8tQy_FoWSE-Wl12HefR5lze1WWIJ2Izh1-BJkHGgpDDNcpmkaK7cfLA7LE1rkbJ5ETZdBkCRDgZv0p9C2koWZKotGqR6fiIuKFUPMRC0cmADYv1a1QEodHMV9Lu4InT47EvXLBLs50dUbYhXej6Xb2f9SXeaGC/w334-h640/Excellerator_Tabletop%20Banner.png" width="334" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-89825302823247921352024-03-19T15:30:00.000-07:002024-03-19T15:30:29.703-07:00Tuesday Closing Dairy Market Update - Steady Cash Prices Provide Support<p><span class="news_header3"><b>MILK</b></span>
<br />
</p><p class="news_content">There have been some issues with cows in
Texas, but it is unclear what it is. Some thought it could be a result
of wildfires that raged recently in the Texas Panhandle. It is unclear
what impact that may have on overall milk production but likely not much
as it seems confined to certain areas.</p><p class="news_content">Whether this could have triggered some buying
interest in the market today is uncertain. More likely, traders might
have been more aggressive buyers to get ahead of the February Milk
Production report to be released Wednesday. The January report resulted
in a few days of upward price movement before prices fell back. The
report Wednesday may show lower milk production and reduced cow numbers
which would again support the market.</p><p class="news_content">Traders wanted to get in earlier to take
advantage of the potential increase in prices before the report. If this
is the case, futures may again be higher on Wednesday. Underlying cash
provided no price direction, leaving the market moving on perception. I
estimate milk production to be down 1% after the adjustment is made for
Leap Day. I estimate the cow number to be down 10,000 head from January.</p><p>
<span class="news_header3"><b>AVERAGE CLASS III PRICES</b></span>
<br />
</p><table cellspacing="0" style="width: 35%;">
<tbody>
<tr>
<td nowrap="nowrap">3 Month:</td>
<td nowrap="nowrap">$16.48</td>
</tr>
<tr>
<td nowrap="nowrap">6 Month:</td>
<td nowrap="nowrap">$17.29</td>
</tr>
<tr>
<td nowrap="nowrap">9 Month:</td>
<td nowrap="nowrap">$17.78</td>
</tr>
<tr>
<td nowrap="nowrap">12 Month:</td>
<td nowrap="nowrap">$17.87</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>CHEESE</b></span>
<br />
</p><p class="news_content">Cheese prices remained unchanged with neither
buyers nor sellers aggressive or even showing up to do business. No
sellers showed up to offer any loads of blocks and no buyers showed up
to purchase barrels. The market may be balanced for the time being.
Buyers may not be very aggressive in the near term as supply is readily
available for demand. Milk receipts at the plant level are improving but
inventory is not building.</p><p>
<span class="news_header3"><b>BUTTER</b></span>
<br />
</p><p class="news_content">Butter price held steady with loads traded in
the spot market. However, the decline of nonfat dry milk will keep Class
IV futures in check. Class IV futures are substantially higher than
Class III futures and are expected to remain that way the entire year
due to butter prices remaining supported. If international demand
improves, butter price could move significantly higher as the year
progresses.</p><p>
<span class="news_header3"><b>OUTSIDE MARKETS SUMMARY</b></span>
<br />
</p><p class="news_content">May corn closed up 3.50 cents per bushel at
$4.3950, May soybeans closed down 2.25 cents at $11.8550 and May soybean
meal closed up $2.00 per ton at $333.90. May Chicago wheat closed up
9.75 cents at $5.5250. April live cattle closed down $0.53 at $188.05.
May crude oil is up $0.57 per barrel at $82.73. The Dow Jones Industrial
Average is up 320 points at 39,111 with the NASDAQ up 63 points at
16,167.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://excelleratorallnatural.com/" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="480" data-original-width="514" height="598" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYynbEg0UrLVCL-vC3ogqhMmzGiH8h7r_Ta-vqD2G_Y2rb4MdGZFsaUVzO9mFAwaigXHSamZXGsIo5geBLFUeF41TP7eJV6vIkPXMfIegapwjclxj59oARmVYkYyVEDD-vlNjVh0TntfmIlwPZ5CLaX-nIWV0M-9p6KZZm0XlWeRpJVZvrrsC8aYHjOkNF/w640-h598/424932598_6573519142135_4837956442516459670_n.jpg" width="640" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-48348819156465985682024-03-19T11:38:00.000-07:002024-03-19T11:38:33.506-07:00Tuesday Midday Dairy Market Summary - Nonfat Dry Milk Declines<div class="separator" style="clear: both; text-align: left;"><span class="news_header3"><b>OUTSIDE MARKETS SUMMARY:</b></span>
<br />
<br /><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap">CORN:</td>
<td nowrap="nowrap">3 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEANS:</td>
<td nowrap="nowrap">4 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">SOYBEAN MEAL:</td>
<td nowrap="nowrap">$1.30 Higher</td>
</tr>
<tr>
<td nowrap="nowrap">LIVE CATTLE:</td>
<td nowrap="nowrap">$0.52 Lower</td>
</tr>
<tr>
<td nowrap="nowrap">DOW JONES:</td>
<td nowrap="nowrap">233 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">NASDAQ:</td>
<td nowrap="nowrap">41 Points Higher</td>
</tr>
<tr>
<td nowrap="nowrap">CRUDE OIL:</td>
<td nowrap="nowrap">$0.85 Higher</td>
</tr>
</tbody>
</table>
<span class="news_header3"><strong><br /></strong></span></div><div class="separator" style="clear: both; text-align: left;"><span class="news_header3"><strong>MIDDAY MARKET UPDATE:</strong></span>
<br />
<p class="news_content">Both blocks and barrels remained unchanged at
$1.45 and $1.50, respectively, with no loads traded in either category.
There was an unfilled bid for a load of blocks a penny below the market
with three uncovered offers at 5, 6 and 7 cents above the market. Dry
whey price remained unchanged at 43 cents with no loads traded. Class
III futures are 2-31 cents higher with September showing the greatest
gain.</p>
<p class="news_content">Butter price remained steady at $2.82 with
four loads traded. Grade A nonfat dry milk price declined 2 cents,
closing at $1.1250 with three loads traded. This moved the price down to
the lowest level since Sept. 20, 2023. Class IV futures are steady to 2
cents higher. Butter futures are 0.25 to 2.02 cents higher. Dry whey
futures are 0.75 cent lower to 0.35 cent higher.</p></div><div class="separator" style="clear: both; text-align: center;"><a href="https://www.excellallnatural.com/news/categories/dairy" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="790" data-original-width="2075" height="244" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhsQgMkcn2m3h__oYQ8PMsbULgQ_wLjORafe8M9zwzCBMG7lWCne3xJp0A898mv3zqToCuxMlxwNEX2c24aZSz2VygYkajS4HlDrhlmA1GHsKqLj_f6J-0nqA22ThUL5JO0aZjBWGuqXiwrJ4tykuxwJLNNwf-eTyEAyb6Ba2ta5xxpCJSyGky7FudaI8T1/w640-h244/Cdp%20LOGO%20large-page-001.jpg" width="640" /></a></div><br />JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.comtag:blogger.com,1999:blog-1015766924892427058.post-23097060183426099032024-03-19T06:29:00.000-07:002024-03-19T06:29:42.455-07:00Tuesday Morning Dairy Market Update - Milk Production Slowly Improves<p><span class="news_header3"><b>OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class III Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 5 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Class IV Milk Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">4 to 8 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Butter Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>OUTSIDE MARKET OPENING CALLS:</b></span>
<br />
</p><table cellspacing="0" style="width: 60%;">
<tbody>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Corn Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Mixed</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to 2 Lower</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Soybean Meal Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Steady to $1 Higher</td>
</tr>
<tr>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">Wheat Futures:</td>
<td nowrap="nowrap" style="padding: 0in 7px 0in 7px; vertical-align: bottom;">1 to 3 Lower</td>
</tr>
</tbody>
</table><p>
<span class="news_header3"><b>MILK:</b></span>
<br />
</p><p class="news_content">Class III milk futures tried to regain some of
the loss from Friday, but underlying cash did not provide the support
needed to rebound prices. The current market fundamentals do not suggest
milk prices will see much upside potential as the calendar moves
through spring flush. Increasing milk production leaves sufficient
supply for demand even though milk production is lagging a year ago. Cow
numbers are likely to continue to decline as milk prices remain low.
The milk production report Wednesday will show the level of cow numbers
compared to the previous month and year. Traders will watch to see
whether there will be a significant decline in cow numbers. If so, it
may trigger buying interest in milk futures.</p><p>
<span class="news_header3"><b>CHEESE: </b></span>
<br />
</p><p class="news_content">Cheese prices are anticipated to remain choppy
as we move through the spring and milk production increases. Demand is
not expected to improve by any large extent over the next few months.
However, buyers could become more aggressive if there is an indication
that the milk supply could tighten as the year progresses.</p><p>
<span class="news_header3"><b>BUTTER:</b></span>
<br />
</p><p class="news_content">Price is expected to hold or slowly trend
higher. It will more likely hold as the demand for Easter is being
shipped or has been shipped with regular demand than taking up the
baton. The cream supply remains plentiful keeping churns active. Butter
futures show no extra premium through the May contract.</p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://www.dyna-cure.com/post/don-t-leave-your-leaves-behind" style="margin-left: 1em; margin-right: 1em;" target="_blank"><img border="0" data-original-height="792" data-original-width="612" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixvWTRHi9R4wC8ktO2PbqbwslzzmQKJQqieKdRn4LnmZux7S1jP41EJcDGtv6hXGxxjnAk1qUqExToz9V220I7fTkUSuRT9q3faimNJwBN101e08-_42lPXSM2u1W09T2C-mdipI23Qhr1NLjIvJowf9W1x2RMAkttAx97qexzcha8aab4fGEVpnh2X1g6/w494-h640/Dyna%20Cure%20flyer%208.jpg" width="494" /></a></div><br /><p><br /></p>JWFhttp://www.blogger.com/profile/17437276640023427561noreply@blogger.com