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:
Last Wednesday’s Hoards Dairyman DairyLivestream program examined the current recovery in milk prices. Managing editor Corey Geiger talks about it with Lee Mielke on today’s Dairy Radio:
Dairy product commercial disappearance plummeted in April but things have since turned around. HighGround Dairy’s Lucas Fuess chats with Lee Mielke about it on our Mielke Monday:
“We’re under a new paradigm of testing in this post-COVID world,” says FC Stone dairy broker, Dave Kurzawski, when asked if the higher milk prices will send the wrong signal to farmers. He talks with Lee Mielke about it:
Dairy processors are often at odds with dairy farmers but there are times they join together; as the two organizations that represent them worked to offset the effects of the COVID pandemic. That was the topic of last week’s Dairy Livestream from Hoards Dairyman. Managing editor Corey Geiger tells us more on today’s Dairy Radio:
Ironically, while cash block cheese set a new record high the first week of June Dairy Month, the Agriculture Department announced the May Federal order benchmark milk price Wednesday, which fell to its lowest level since September 2009.
The COVID-incited plunge in farm gate milk price hit bottom at $12.14 per hundredweight, down 93 cents from April and $4.24 below May 2019. That pulled the 2020 Class III average to $15.10, up from $15.05 at this time a year ago and $14.25 in 2018.
Class III futures settlements Wednesday portended a rebound in June to $19.83, with July at $18.68; August, $17.36; September, $17.02; October, $16.86; November, $16.66; and December at 16.42.
The May Class IV price is $10.67, down 73 cents from April, $5.62 below a year ago, and the lowest Class IV price since August 2009. The Class IV average stands at $13.96, down from $15.81 a year ago and compares to $13.42 in 2018.
Courtesy: Mielke Market Weekly
Dairy farmers had to dump milk on their farms in March and April due to the COVID pandemic. Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter, ran the numbers and made some interesting observations about that milk. He shares what he learned with Lee Mielke:
Dairy producers remain optimistic and determined to get through the COVID-19 pandemic inspired downturn, according to Hoard’s Dairyman managing editor Corey Geiger, following last week’s Dairy Livestream discussion. He talks with Lee Mielke about it:
Dairy prices have seen some strength recently. HighGround Dairy’s Director of Dairy Market Intelligence, Lucas Fuess, talks about it with Lee Mielke. He also question’s the increase in U.S. milk output spelled out in last week’s World Agricultural Supply and Demand Estimate report:
U.S. dairy markets are recovering, though they have a long way to go, according to FC Stone dairy broker Dave Kurzawski. He talks with Lee Mielke about the three main elements that are driving this recovery.
Dairy farmers are being asked to reduce milk production by their cooperatives. Hoard’s Dairyman Managing Editor Corey Geiger talks with Lee Mielke about Hoard’s new Dairy LiveStream broadcast and what they learned from farmers who participated:
Matt Gould, editor and analyst with the Dairy and Food Market Analyst newsletter, talks with Lee Mielke about the negative media reporting of dairy farmers dumping milk in the U.S. and why that’s happening and what the “silver lining” might be in the current dairy market:
HighGround Dairy’s Lucas Fuess talks with Lee Mielke about the joint proposal by the National Milk Producers Federation and International Dairy Foods Association to help save the U.S. dairy industry:
FC Stone dairy broker Dave Kurzawski admits there isn’t much silver lining for the dairy markets. He reports that milk is being dumped in the U.S. and he warns of the long term ramifications on today’s Dairy Radio Now broadcast with Lee Mielke:
The Agriculture Department announced the March Federal order Class III milk price at $16.25 per hundredweight, down 75 cents from February but $1.21 above March 2019 and the highest March Class III since 2014. But that’s where the good news ends. More bloodletting is to come, thanks to the ongoing COVID-19 outbreak. The three month average stands at $16.77, up from $14.30 a year ago and compares to $13.87 in 2018 but that average is about to fall as well.
Class III futures have been pulled sharply lower and Wednesday’s settlements portended an April price of $14.45; May, $13.12; and June at $13.56, with the peak in October of just $15.14.
The March Class IV price is $14.87, down $1.33 from February and 84 cents below a year ago and the lowest Class IV price since September 2018. Its three month average is at $15.91, up from $15.68 a year ago and $13.01 in 2018.
Courtesy: Mielke Market Weekly
The global pandemic has plunged the world into a time of perplexity and uncertainty. Hoard’s Dairyman managing editor Corey Geiger addresses some of the arising concerns for dairy on today’s Dairy Radio.
HighGround Dairy warns that the coronavirus outbreak will result in a severe decline in restaurant and food service sales, which are a key driver of dairy demand, however retail and grocery demand has been exceptionally strong. Lucas Fuess talks with Lee Mielke about the situation, as they see it.
The coronavirus will impact dairy demand and prices but it may not be the disaster it might have been 10 years ago. FC Stone dairy broker Dave Kurzawski talks with Lee Mielke about it:
The U.S. dairy industry is being impacted by the coronavirus outbreak, even though it’s not a big exporter of dairy products to China. Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter, talks with Lee Mielke about it.
The trade war with China over U.S. whey products, lactose, and infant formula is over, says Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it and the additional potential for dairy product sales to China:
FC Stone dairy broker Dave Kurzawski gives a state of the dairy industry address and talks about the corona-virus and the Oscar’s slam on the industry.
The recent IDFA Dairy Forum showed a great mix of dairy processors, producers and retailers with more than 1,100 attendees. Corey Geiger, managing editor with Hoard’s Dairyman, shares his thoughts with Lee Mielke:
The U.S. dairy industry continues to consolidate and move westward, according to Daily Dairy Report editor and analyst Sarina Sharp who talks about it with Lee Mielke:
Matt Gould of the Dairy and Food Market Analyst says the December Cold Storage report shows bulging butter stocks. He puts it into perspective in his discussion with Lee Mielke.
The latest commercial disappearance data appears a bit disappointing; however FC Stone dairy broker Dave Kurzawski puts it into perspective and discusses the new block cheese price futures contract with Lee Mielke:
U.S. dairy exports looked good for November with strong performance across most commodities, according to High Ground Dairy’s Lucas Fuess. He talks with Lee Mileke about the numbers.
2019 milk prices reached the highest levels in five years but will they last in 2020? FC Stone dairy broker Dave Kurzawski gives Lee Mielke his read on things.
The US dairy industry produces some of the best quality milk in the world, though it has been hesitant to lower its maximum allowable somatic cell count standards to global levels. Corey Geiger, managing editor of Hoards Dairyman magazine, talks with Lee Mielke about that and the upcoming Quality Award winners:
The USDA’s latest dairy product commercial disappearance data helps explain recent prices, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks about with Lee Mielke on today’s Dairy Radio:
High Ground Dairy’s Lucas Fuess discusses China’s latest import data with Lee Mielke:
Matt Gould, editor of the Dairy and Food Market Analyst, warns of rising milk output in the U.S. and globally and the downward pressure that will mean ahead, but he is still optimistic about 2020 for dairy farmers. He talks with Lee Mielke about the reasons why.
The December Federal order Class I base milk price was announced by the USDA at $19.33 per hundredweight, up $1.19 from November and $4.28 above December 2018 and the highest Class I price since December 2014. It equates to about $1.66 per gallon, up from $1.29 a year ago. The 2019 Class I average is $16.99, up from $14.84 in 2018 and $16.45 in 2017.
Courtesy Mielke Market Weekly
FC Stone dairy broker Dave Kurzawski joins Lee Mielke on Monday’s Dairy Radio Now broadcast:
Hoard’s Dairyman managing editor Cory Geiger recaps last week’s annual meeting in New Orleans.
The U.S. dairy industry stands to benefit from purchases made by China and Japan, according to HighGround Dairy’s Lucas Fuess. He talks with Lee
Mielke about it.
The October Federal Order Class III benchmark milk price hit a five-year high at $18.72 per hundredweight, up 41 cents from September, $3.19 above October 2018, and the highest Class III since November 2014. The October Class IV milk price is $16.39, up 4 cents from September and $1.38 above a year ago. Courtesy: Mielke Market Weekly
Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter, reports USDA’s latest Milk Production report “represents the fastest growth rate in milk supply in about a year:”
Trade remains a volatile issue with the seemingly never ending dispute with China. FC Stone dairy broker Dave Kurzawski reports there is talk is of a purchase by China of $40-50 billion worth of US agricultural products:
Agriculture Secretary Sonny Perdue didn’t have much of a positive response to a question about plant-based meats at World Dairy Expo. Hoards Dairyman Managing Editor, Corey Geiger talks with Lee Mielke about it and reports on a new study that challenges the negative charges against red meat consumption.
Agriculture Secretary Sonny Perdue told dairy farmers at World Dairy Expo in Madison last week that they will have to adapt to survive. HighGround Dairy’s Lucas Fuess was there and talks with Lee Mielke about the reaction.
The dairy industry has lost one of its greatest contributors. Lee Mielke dedicates today’s broadcast to Jerry Dryer whose voice was heard on DairyLine Radio for many many years. Lee and dairy analyst Matt Gould discuss on today’s Dairy Radio :
Lee Mielke checks in with High Ground Dairy’s Lucas Fuess as they review USDA’s recent milk production and U.S. dairy product commercial disappearance.
Block Cheddar cheese hit the highest price in almost five years and is the highest priced cheese in the world. It closed “Friday the 13th” at $2.2050 per pound, up an astounding 20 3/4-cents on the week, the highest since October 22, 2014. FC Stone dairy broker Dave Kurzawski explains why:
Matt Gould, editor and analyst of the Dairy and Food Market Analyst newsletter, talked with Lee Mielke about this week’s July Dairy Products report and the latest U..S dairy export data:
Results from this year’s Pro Farmer Tour were made public on corn and soybean yields. FC Stone’s Dave Kurzawski talks with Lee Mielke about its message on dairy feed prices:
Competition for the dairy industry is not new. Imitators were a challenge
years ago and plant based beverages are not the only foe dairy faces
today. Hoards Dairyman editor, Corey Geiger, talks with Lee Mielke about it on today’s Dairy Radio:
Bob Gray, editor of the Northeast Dairy Farmers Cooperative’s newsletter joined us on today’s Dairy Radio program with Lee Mielke to discuss proposed change to the H-2A program. Link to Newsletter
Tom Wedegaertner, Director of Cottonseed research with Cotton Incorporated, reports cotton crop “looks fantastic.”
June trade data is indicative of China’s continuing increase of dairy imports, unfortunately it is of small benefit to U.S. dairy farmers, according to Lucas Fuess, director of dairy market intelligence with HighGround Dairy in Chicago:
The outbreak of African Swine Fever (ASF) in China continues to have ramifications for dairy farmers, according to Corey Geiger, managing editor for Hoard’s Dairyman:
The U.S. dairy market is in its own little world, pretty much ignoring
the global market. FC Stone dairy broker Dave Kurzawski talks about it
with Lee Mielke:
Encouraging milk prices starts with the supply, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. While he does see higher feed prices ahead due to weather conditions affecting crops in the Midwest, he doesn’t see that as being catastrophic.
Consumer concerns from the recent headlines of animal abuse allegations is our topic this week with Lee Mielke and guest, Cory Geiger from Hoard’s:
FC Stone’s Dave Kurzawksi recaps last week’s market news with Lee Mielke:
High Ground Dairy’s Lucas Fuess discusses the latest trade data on today’s Mielke Monday:
Market analyst Jerry Dryer said he expects U.S. cow numbers to continue to decline and looks for milk output to fall below a year, possibly even in April from revisions we will see next month. Listen here:
Hoards Dairyman managing editor Corey Geiger echoes our belief that June Dairy Month is not fake milk month. A growing number of consumers believe drinking a beverage from a plant is more beneficial than what comes from a cow. Geiger tells us if consumers really knew the whole story, they probably wouldn’t be drinking fake milk.
Matt Gould, analyst of the Dairy & Food Market Analyst newsletter joined us on today’s Mielke Monday to update us on African swine fever in China and how it may impact the dairy industry.
FC Stone dairy broker Dave Kurzawski discusses China’s latest import
HighGround Dairy’s (HGD) Lucas Fuess joins us on today’s Dairy Radio to update us on U.S. dairy exports.
Safety nets have been a part of dairy’s financial landscape for many years but the net has changed since the old price support program and keeps changing. Hoard’s Dairyman managing editor Corey Geiger talked about the new Dairy Margin Coverage on today’s Dairy Radio Now broadcast:
Jerry Dryer, analyst and consultant with JDG Consulting, says cheese prices popped higher earlier than he expected this spring, although he warns the price could slip due to the spring flush, which USDA says is occurring in parts of the West and Southern Central regions. Listen here:
Lee Mielke discusses the current state of the industry with Corey Geiger, Managing Editor of Hoard’s Dairyman:
FC Stone dairy broker Dave Kurzawski reports on January U.S. dairy exports:
High Ground Dairy’s Lucas Fuess joined Lee Mielke on Monday’s Dairy Radio Now to discuss the latest milk output.
2018 total disappearance was higher across all commodities. High Ground Dairy’s Lucas Fuess talks about it with Lee Mielke on Monday’s Dairy Radio:
The Agriculture Department announced the February Federal order Class III benchmark milk price at $13.89 per hundredweight, down 7 cents from January but 49 cents above February 2018 and the first month that The Class III price topped the previous year’s price since November 2017. It equates to $1.19 per gallon, down from $1.20 in January and compares to $1.15 a year ago.
The February Class IV price is $15.86, up 38 cents from January, $2.99 above a year ago, and the highest Class IV price since August 2017.
The four week average cheese price used in calculating the month’s Class prices was $1.3940 per pound, up 0.7 cents from January. Butter averaged $2.2644, up 3 cents. Nonfat dry milk averaged 98 cents per pound, up 2.9 cents, and dry whey averaged 45.45 cents per pound, down 2.6 cents from January. Courtesy: Mielke Market Weekly
More than 1,800 dairy cattle died from the recent winter blizzards in Eastern Washington. Matt Gould, editor and analyst of the Dairy & Food Market Analyst newsletter joined us on today’s Dairy Radio Now to discuss:
The big jump in the latest Global Dairy Trade (GDT) auction was good news for the global dairy market but the U.S. is not benefiting as much from it. Lee Mielke talks with HighGround Dairy’s director of market intelligence, Lucas Fuess:
The U.S. Dairy Export Council’s latest outlook is positive for 2019. Alan Levitt, VP of Communications & Market Analysis joined us on our Mielke Monday to discuss:
Not a lot of of optimism taken from last week’s annual Dairy Forum in Orlando. Jerry Dryer discusses the details with Lee Mielke:
The partial government shutdown has cost the dairy markets some regularly supplied information from USDA. How important was that info? FC Stone dairy broker Dave Kurzawski discusses with Lee Mielke on today’s Dairy Radio Now.
HighGround Dairy’s director of market intelligence, Lucas Fuess, says “the unthawing” of trade relations with China is good news for U.S. farmers but the U.S. has its work cut out for itself.
Matt Gould, editor, and analyst with the Dairy and Food Market Analyst newsletter reports the GDT lends some optimism, even though the dairy industry and others still face the “trade war” left over from 2018. He also tells Lee Mielke that U.S. restaurants faced a challenging year.
FC Stone’s Dave Kurzawski joined us on the last day of the year with a recap of 2018 and what is in store for ’19:
As of midnight December 21, a partial shutdown of the government went into effect due to the failure of a House-passed continuing resolution in the Senate. At issue is President Trump’s insistence of funding for a border wall with Mexico. The Agriculture Department announced a contingency plan for its services. It will continue to publish its weekly National Dairy Products Sales Report but will not produce the monthly NASS Milk Production, Cold Storage, or Dairy Products reports. Monthly milk price announcements will also continue. The last time a shutdown impacted dairy programs was October 2013.
Matt Gould, analyst, and editor of the Dairy and Food Market Analyst newsletter joins Lee Mielke on this Christmas Eve broadcast:
The USDA’s latest Livestock, Dairy, and Poultry Outlook show overall milk use in October was higher than year-earlier levels but FC Stone dairy broker Dave Kurzawski tells Lee Mielke on today’s Dairy Radio Now that the data speaks volumes to what has happened on the cheese futures and spot market. American cheese demand was down 9.9 percent from a year ago, unusual for this time of year, he said, but up 2.5 percent from September. The problem is that we price milk on American cheese, though he believes that will turn around. Listen Here:
Jerry Dryer, analyst, and editor of the Dairy and Food Market Analyst newsletter joined us on today’s Mielke Monday to give a small preview of his December forecast. He believes we will see some $17 milk by the end of the year and, if his hunch on milk supply becomes reality, “We could see $20 milk by the end of next year.”
HighGround Dairy’s Director of Dairy Market Intelligence, Lucas Fuess, talks with Lee Mielke about the hope for any rebound in milk prices ahead:
Stewart-Peterson, Inc. Market Advisor John Heinberg joined us on today’s Dairy Radio Now to update listeners on the latest U.S. dairy market activity and what to anticipate for 2019:
The nation’s Number 1 milk-producing state became a part of the Federal Milk Market Order system on November 1st. FC Stone dairy broker, Dave Kurzawski, talks with Lee Mielke about the ramifications of that additional 3 million plus pounds of milk per month being added to the Federal order for dairy producers in other states, and does he see higher dairy prices after Thanksgiving from the Christmas buy?
Matt Gould, an analyst of the Dairy & Food Market Analyst newsletter joined us on today’s Mielke Monday to see if there is any silver lining in the down milk prices that producers are facing.
HighGround Dairy’s Lucas Fuess pointed out on today’s Mielke Monday Dairy Radio Now broadcast that, even though dairy commercial disappearance and exports are strong, that hasn’t been enough to help the barrel cheese price. Most exports are blocks, he said, and that has contributed to the big price spread between them.
FC Stone’s Dave Kurzawski says we may not be accurately assessing profitability on the dairy unless we consider the so-called “fixed costs.” He chats with Lee Mielke about it on Monday’s Dairy Radio Now:
The new United States-Mexico-Canada Agreement doesn’t have a lot of great news for U.S. dairy farmers, according to analyst Jerry Dryer of the Dairy & Food Market Analyst Newsletter. He talks with Lee Mielke about it on today’s Dairy Radio Now.
HighGround Dairy’s Lucas Fuess reacts to the U.S. Canada agreement on trade announced last week and takes a peek at what he sees in 2019 for U.S. dairy:
Matt Gould, editor, and analyst with the Dairy and Food Market Analyst newsletter, says you might not know it from dairy product prices but domestic demand has been very strong or firm. He talks with Lee about it and the latest salvo in the China tariff war.
Matt Gould of the Dairy and Food Market Analyst newsletter discusses the messages from the August Milk Production report and how the light at the end of the tunnel may have been pushed backward
by the latest tariff war salvo with China.
How are the dairy markets reacting to the recent headlines? FC Stone’s Dave Kurzawski discusses with Lee Mielke.
The Trump administration appears to have worked a deal with Mexico and while talks continue with Canada, High Ground Dairy’s Lucas Fuess tells us the latest U.S. dairy export data:
It was Labor Day, 1988 when Lee Mielke launched DairyLine, a radio network devoted entirely to the dairy industry. Since then, DairyLine has transformed to Dairy Radio Now with MIelke providing weekly reports on the latest market conditions. On this anniversary we had a chance to look back at 30 years of providing info to the dairy industry.
Dairy and Food Market Analyst Matt Gould discusses the latest USDA Milk Production and Cold Storage reports released by the U.S. Department of Agriculture.
The bulls were fed the week of August 13. Barrel cheese marched higher, commercial dairy product disappearance looked solid, the U.S. and Mexico appeared to be coming together in their trade spat, and even China’s commerce ministry stated that its commerce vice-minister had been invited by the U.S. to discuss economic and trade issues. And, for the first time ever, the USDA announced that it will purchase $50 million in pasteurized fluid milk.
HighGround Dairy’s Lucas Fuess tells Lee Mielke on Dairy Radio Now – that reports of heat stress in the Western U.S., Europe, Australia, and Japan is a cause for concern, and CME barrel cheese trading above the blocks for the first time since December 19, 2017, bodes well for prices and “we could have a trade deal with Mexico yet this month.” Listen here: