Friday was the first day of June Dairy Month, but it arrives with a lot of apprehension among dairy producers. The cash dairy markets ended the Memorial Day holiday-shortened week with block Cheddar at $1.5975 per pound, down 1 1/4-cents on the week, 10 1/4-cents below a year ago, and 6 1/4-cents lower than it was on May 1, as the week’s global politics may have influenced traders some. More on that ahead. The barrels finished at $1.52, down 2 1/2-cents on the week, 3 cents above a year ago, but 8 1/4-cents below its May 1 perch. There were 7 cars of block that traded hands on the week at the CME and 26 of barrel.
Matt Gould, editor, an analyst with the Dairy and Food Market Analyst newsletter says the second half of 2018 will be better than the first half – but he says that still doesn’t mean dairy producers will be profitable. Listen to his conversation with Lee Mielke of the Mielke Market Weekly on today’s Dairy Radio Now.