We saw a pretty bearish October Milk Production report last week. HighGround Dairy’s Lucas Fuess talks about the ramifications with Lee Mielke on today’s Dairy Radio Now:

Cheese prices are falling and will pull milk prices lower but feed prices are rising. StoneX dairy broker, Dave Kurzawski, says last week’s World Agricultural Supply and Demand Estimates report shows record corn exports and smaller crops. He talks with Lee Mielke about it:

A big “Thank you” to Minnesota Democrat Collin Peterson, ranking member of the House Agriculture Committee, who was defeated in his re-election bid. Hoards Dairyman’s Corey Geiger called Peterson a “champion for agriculture.”

The U.S. benchmark Class III milk price pole vaulted $5.18, to $21.61 per hundredweight, highest October price since 2014, with more to come, thanks in large part to Uncle Sam’s Farmers to Families Food Box program. The November Class III futures settled Wednesday at $23.77 and December at $20.17. Courtesy of the Mielke Market Weekly

Matt Gould of the Dairy Market Analyst Weekly Report newsletter joins us on the day before the general election to discuss the dairy markets:

September milk production was up more than expected. Is the U.S. dairy herd in an expansion mode? Lee Mielke poses the question to HighGround Dairy’s Lucs Fuess:

Strong dairy prices would seem to indicate that dairy product commercial disappearance must really be great. Not necessarily, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it:

The September benchmark milk price is dropping, however October is poised to shoot back up above $20. StoneX dairy broker Dave Kurzawski talks about it with Lee Mielke; as well as current cheese prices and the government’s Food Box program:

U.S. milk prices promise to remain relatively strong, however StoneX Dairy warns that government Food Box deliveries are beginning to slow. What does this mean for the dairy complex? Dairy broker Dave Kurzawski talks with Lee Mielke about it:

USDA’s Economic Research Service latest data shows a 60-year record high for U.S. per capita consumption of dairy products on a milk-fat milk-equivalent basis. Unfortunately, fluid milk is not contributing much to the increase. Lee Mielke discusses with Hoards Dairyman Managing Editor Corey Geiger:

July cheese disappearance topped that of a year ago, the third consecutive month to do so, according to HighGround Dairy’s Lucas Fuess. He talks with Lee Mielke about it as well as butter and powder:

Dairy demand remains “extremely volatile,” according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter:

The dairy markets faces a lot of uncertainty ahead and several opposing forces, according to StoneX dairy broker Dave Kurzawski. He talks with Lee Mielke about them:

A Lot of milk money was left on the table recently and dairy farmers saw very little of it. Hoard’s Dairyman managing editor Corey Geiger talks with Lee Mielke about how much:

June U.S. dairy product commercial disappearance was encouraging but some clouds have moved in, in the form of the Global Dairy Trade auction and the July Milk Production report. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about on today’s Dairy Radio:

The Agriculture Department announced the September Federal order Class I base milk price at $18.44 per hundredweight, down $1.34 from August, 59 cents above September 2019, and the highest September Class I since 2014. It equates to about $1.59 per gallon and pulls the 2020 Class I average to $16.65, up from $16.51 at this time a year ago and compares to $14.58 in 2018.
Courtesy: Mielke Market Weekly

The market volatility of the COVID pandemic forced many farmers to take a closer look at their financial statements, according to Hoard’s Dairyman managing editor Corey Geiger. He talks with Lee Mielke about it on Monday’s Dairy Radio:

While the June Class III milk price topped $20 per cwt., most dairy farmers won’t see their check that high because of quirks with the U.S. milk pricing system. The Daily Dairy Report’s Sarina Sharp explains on today’s Dairy Radio with Lee Mielke:

The Agriculture Department announced the July Federal order Class III benchmark milk price at $24.54 per hundredweight, up $3.50 from June, 6 cents shy of the all-time record $24.60 in September 2014, and $6.99 above July 2019. It put the 2020 average at $17.30, up from $15.58 a year ago and $14.37 in 2018

The July Class IV price is $13.76, up 86 cents from June but $3.14 below a year ago, and the lowest July Class IV price since 2015. Its average now sits at $13.78, down from $16.11 a year ago and compares to $13.73 in 2018. Posted by: Mielke Market Weekly

June dairy imports to China were “impressive,” according to HighGround Dairy’s Lucas Fuess. He talks with Lee Mielke about them on today’s Dairy Radio:

Today we take a look at the most recent milk production and cold storage reports from USDA, with Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter:

The Agriculture Department announced the August Federal order Class I base milk price at $19.78 per hundredweight, up $3.22 from July, $1.89 above August 2019, and the highest Class I since December 2014. It equates to $1.70 per gallon, up from $1.42 in July and $1.54 a year ago. The 2020 Class I average stands at $16.42, up from $16.34 at this time a year ago and $14.54 in 2018.  
Courtesy: Mielke Market Weekly

Nate Donnay, Director of Dairy Market Insight for StoneX Group, talks with Lee Mielke about USDA’s May dairy product commercial disappearance data:

Forget gold. Invest in cheese. One could almost say that this past week as the CME Cheddar blocks set another record high Friday, closing at $2.9150 per pound, up 24 cents on the week and $1.13 above that week a year ago. Lee Mielke asks HighGround Dairy’s Lucas Fuess if the bubble will burst and how low will prices fall?

There was a lot of dairy news to sift through this last week, from a huge jump in the milk price to more government aid on the way. HighGround Dairy’s Lucas Fuess sorts it out with Lee Mielke: