US: Milk remains plentiful in the Midwest despite temperatures hitting the 90 degree mark
United States
Published Jul 3, 2021
Tridge summary
Mid-June dairy prices weakened and the week was lean on fodder for the markets. The most anticipated report, May Milk…
Original content
Mid-June dairy prices weakened and the week was lean on fodder for the markets. The most anticipated report, May Milk Production, was to be released Friday afternoon after the markets has finished trading, but was delayed until Monday, in observance of the Juneteenth Federal holiday, as Federal offices were closed. Many expect a sizeable gain in milk output from May 2020. The CME Cheddar blocks closed Friday at $1.4925 per pound, down 0.75 cents on the week and $1.1575 below a year ago. The barrels finished at $1.5425, down 13 cents, lowest since April 6, 74.25 cents below a year ago, and 5 cents above the block. There were 14 sales of block on the week and 42 of barrel. Milk remains plentiful in the Midwest despite temperatures hitting the 90 degree mark, according to Dairy Market News. Some cheesemakers said plentiful was an understatement, and are operating at maximum capacity. The block-over-barrel price inversion is viewed by many as an indicator of market stability. Retail and ...
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