Lee Mielke
Butter High Short-Lived
Butter hit a seven-year high on Aug 3rd but was short-lived. StoneX broker Dave Kurzawski talks with Lee Mielke about it, and how bullish he is on cheese, despite prices falling below $2 per pound.
Class III Takes A Hit
The news was mixed this past week with the $1.81 drop in the Class III milk price, however U.S. dairy exports remained strong in June. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about the highlights.
Is It Supply Or Demand Running The Show?
Is it supply or demand controlling the dairy markets? StoneX dairy broker, Dave Kurzawski, talks with Lee Mielke about how things shape up right now.
GDT Down
Tuesday’s GDT weighted average was down 5%. Many point the finger at China and the latest import data would seem to support that. HighGround Dairy’s Lucas Fuess talks about it with Lee Mielke:
Is Dairy Demand Slipping?
The numbers would indicate dairy product demand is slipping however StoneX dairy broker Dave Kurzawski, says you have to put the data into perspective and does so in his talk with Lee Mielke:
Post Holiday Blues
Tuesday was not a good day to come back to, following the 4th of July holiday. The GDT dropped 4.1% and CME prices fell as well. Lee Mielke talks about it with Matt Gould, editor of the Dairy and Food Market Analyst.
Dairy Market Update
Are current dairy markets supply directed or demand directed? HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it.
Benchmark Milk Price Down 88 Cents
The Agriculture Department announced the June Federal order Class III milk price at $24.33 per hundredweight, down 88 cents from May but $7.12 above June 2021.
That put the 2022 Class III average at $22.95, up from $16.96 at this time a year ago, $16.09 in 2020, and $15.25 in 2019.
The June Class IV price set another new record high at $25.83, up 84 cents from May, and $9.48 above a year ago. Its average sits at $24.67, up from $14.84 a year ago, $13.78 in 2020, and $15.98 in 2019. Courtesy of the Mielke Market Weekly
Monthly Milk Production Down…Again
May milk production was down again. Lee Mielke discusses with analyst Matt Gould:
Dairy Industry Eyes Rising Interest Rate
The Fed put a patch on the gaping hole called inflation, by way of a 75 basis point interest rate hike. StoneX dairy broker Dave Kurzawski talks with Lee Mielke about what that means for the dairy industry:
Dairy Export Update
We got a look at April U.S. dairy exports this week. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about the numbers:
Milk, Feed Prices Set Records
The April All Milk Price set another record high; but feed prices are setting records too. Bill Brooks, dairy economist with Missouri-based Stoneheart Consulting, talks with Lee Mielke about it.
Benchmark Sets New Record
The Agriculture Department announced the May Federal order Class III milk price at $25.21 per hundredweight, up 79 cents from April, $6.25 above May 2021, and a new record high for the Class III. The 2022 average now stands at $22.67, up from $16.91 a year ago, $15.10 in 2020, and $15.05 in 2019.
The May Class IV price is $24.99, down 32 cents from April but $8.83 above a year ago. The five-month average is at $24.44, up from $14.54 a year ago, $13.96 in 2020, and $15.81 in 2019. Courtesy of the Mielke Market Weekly
Ukraine Aid May Benefit U.S. Dairy
The $40 billion aid package bill for Ukraine may benefit U.S. dairy farmers, according to the Dairy and Food Market Analyst. Editor and analyst Matt Gould talks about it with Lee Mielke:
Breeding Changes On The Farm
Breeding programs on America’s dairy farms are seeing some surprising changes, according to Hoards Dairyman Managing Editor Corey Geiger. He talks to Lee Mielke about it.
Dairy Product Prices Weakening
Dairy product prices appear to be weakening some – StoneX dairy broker Dave Kurzawski discusses with Lee Mielke:
U.S. Dairy Export Update
The Global Dairy Trade auction plunged 8.5% recently but U.S. dairy exports are looking great. HighGround Dairy’s Lucas Fuess talks about it with Lee Mielke:
Optimism & Concern
The recent annual conference of the American Dairy Products Institute and American Butter Institute offered some optimism as well as concern, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it – and how dairy farmer’s cost of production will top $23 per hundredweight:
Dairy Market Insights
Dairy got a boatload of market driving information recently, another big drop in the GDT, insight into where U.S. milk production is headed in the March Milk Production report, and the drop in Chinese dairy imports in March. HighGround Dairy’s Lucas Fuess talks with Lee about it all:
Inflation At 40 Year High
Good Friday Week gave us some startling news showing inflation at a 40-year high of 8.5%, as fuel and food prices skyrocket. Lee Mielke talks about it with StoneX dairy broker Dave Kurzawski:
Dairy Market Data “A Mixed Bag”
The fundamental dairy market data is a “mixed bag,” according to analyst and editor, Matt Gould, of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it:
Market Volatility During Uncertain Times
Stone X Dairy Broker Dave Kurzawksi is Lee Mielke’s guest today:
China’s Dairy Appetite Continues
China’s latest dairy import data has been released. Lee Mielke discusses with High Ground Dairy’s Lucas Fuess:
Market Volatility With Russia’s Invasion
There’s plenty of uncertainty and volatility in the market these days as the war rages on in Ukraine. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about the dairy side of things, specifically USDA’s latest milk production and milk price projections and January export data:
Volatility During Uncertain Times
Volatility is the word of the day as the war between Russia and Ukraine rages on. StoneX Dairy Group broker Dave Kurzawski says the markets are focusing on worst case scenarios. He talks with Lee Mielke about what it means for dairy:
Milk Output Down, Bullish Cold Storage Report
The world witnessed the beginnings of war this past week as Russian troops invaded Ukraine. We also saw a large reduction in U.S. milk output and a bullish Cold Storage report. Lee Mielke talks about it with Matt Gould, editor and analyst with the Dairy and Food Market Analyst newsletter:
Costs Going Up
A much delayed study on updating Federal Market Order make allowances has been released and shows that the cost of processing most products has gone up. That would affect dairy farmer milk prices. StoneX dairy broker Dave Kurzawski talks with Lee Mielke about it on today’s Dairy Radio Now.
2021 Showed Strong Exports
U.S. dairy exports were record high in 2021 but hit some headwinds in December. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about what that means for 2022:
Producers See Class III Bump
Dairy producers saw a nice $2 increase in the January Class III milk price and the latest milk feed ratio inched higher; but there won’t be a Dairy Margin Coverage payment for the month, according to dairy economist Bill Brooks of Stoneheart Consulting. He talks about it with Lee Mielke about it on today’s Dairy Radio Now:
Futures On Roller Coaster
The dairy and futures markets were on a roller coaster this past week but the market did what it was designed to do, says StoneX Dairy’s Dave Kurzawski. He talks with Lee Mielke about it.
Dairy Market Update
November dairy product commercial disappearance continued to look good. High Ground Dairy’s Lucas Fuess discusses with Lee Mielke:
Strong Dairy Prices Ahead
Dairy prices are strong and will likely be around for awhile, according to dairy analyst and editor of the Dairy and Food Market Analyst newsletter, Matt Gould. He adds that the resulting higher milk prices will find their way to the farm this time and talks about it with Lee Mielke:
Soaring Dairy Product Prices
We are off to the races in this new year. High Ground Dairy’s Lucas Fuess gives Dairy Radio listeners an update, as well as his reaction to the recent USMCA ruling against Canada.
Benchmark Up 33 Cents
The Agriculture Department announced the December Federal order Class III milk price at $18.36 per hundredweight, up 33 cents from November, $2.64 above December 2020, and the highest Class III since May. That put the year’s average at $17.08, down from $18.16 in 2021 and compares to $16.96 in 2019.
Class III futures portend a January 2022 price at $20.66; February, $22.35; and March at $21.75 per cwt.
The December Class IV price is $19.88, up $1.09 from November, $6.52 above a year ago, and the highest Class IV price since October 2014. The 2021 Class IV average is $16.09, up from $13.49 in 2020, and compares to $16.30 in 2019.
Courtesy of the Mielke Market Weekly
DMC Changes
Another new year is upon us and we take look ahead, including the changes USDA has made on the Dairy Margin Coverage program with Bill Brooks, dairy economist with Stoneheart Consulting in Deerborn, Missouri:\
Inflationary Environment
The last week of 2021 is here. The so-called “highlights,” or “low lights” will likely be the same in 2022, according to StoneX dairy broker Dave Kurzawski. He talks about it with Lee Mielke:
Weak Domestic Disappearance
The Agriculture Department gave us the latest on U.S. dairy product demand. According to HighGround Dairy’s Lucas Fuess, it was the weakest October domestic disappearance since 2017:
Impressive Export Numbers
October U.S. dairy exports were “decently impressive,” according to HighGround Dairy’s Lucas Fuess. He talks with Lee Mielke about it and the port congestion issue.
Mielke Market Talk
Omicron became the buzzword of “Black Friday” and ever since as another chapter is being written in the ongoing COVID saga. What are the ramifications for the dairy industry? Lee Mielke talks about it with StoneX dairy broker Dave Kurzawski.
Expensive Turkey Day
Dairy market analyst Bill Brooks joined Lee Mielke to recap how consumers reacted to the recent Thanksgiving holiday:
Annual Meeting Recap
Hoard’s Dairyman managing editor Cory Geiger gives Dairy Radio listeners a recap of the annual meeting in Vegas.
Monitoring Cheese Prices
The European Energy Exchange (EEX) announced the launch of four European cheese indices (indexes) this week. HighGround Dairy’s Lucas Fuess talks about the significance of that and what has happened to U.S. cheese prices.
Why Milk Prices Are Up
NPR’s Scott Simon talks with Dairy Radio Now’s Lee Mielke about the rising price of milk in the markets. Click Here
Too Little, Too Late
The October Federal Order Class III milk price jumped $1.30 from September but it’s too little, too late for many dairy operations. Matt Gould, editor and analyst for the Dairy and Food Market Analyst newsletter, talks with Lee Mielke about it:
Negative Milk Production?
High Ground Dairy’s Lucas Fuess updated Dairy Radio listeners the latest dairy market conditions.
GDT Unchanged
The GDT was unchanged Tuesday, but the stability of the GDT is not bearish, according to StoneX dairy broker Dave Kurzawski. He talks about it with Lee Mielke:
Benchmark Milk Price Inches Up
The September benchmark milk price gained 58 cents this week and futures prices are showing a peak around $17.80. Will that be enough for U.S. farmers to stay in business? StoneX dairy broker, Dave Kurzawski, tackles that question.
Dairy Markets Absorbing Latest Reports
The dairy markets had a lot to absorb this week but the smaller than expected 1.1% increase in August milk production and the fact that butter stocks fell below those a year ago for the first time since June 2019 were the top two. Lee Mielke talks about them with HighGround Dairy’s Lucas Fuess.
Class I Up 49 Cents
The Agriculture Department announced the October Federal order Class I base milk price at $17.08 per hundredweight, up 49 cents from September, $1.88 above October 2020, and equates to $1.47 per gallon, up from $1.31 a year ago.
The ten month average stands at $16.48, down from $16.50 a year ago and $16.64 in 2019.
Courtesy of the Mielke Market Weekly
Port Problems Persist
Dairy market analyst Matt Gould updated Dairy Radio Now listeners on the latest export concerns relating to port congestion.
Milk Tightness Affecting Markets
Milk tightness is underpinning the markets, according to Stone X dairy broker Dave Kurzawski. He talks with Lee Mielke about it on today’s Dairy Radio Now:
Strong U.S. Dairy Exports
U.S. dairy exports still looking strong. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it and why farm milk checks aren’t reflecting that:
Port Congestion Exacerbating Shipping Woes
Port congestion is exacerbating shipping woes all over the world. Dairy analyst Matt Gould joins us on today’s Dairy Radio Now to discuss dairy’s impact.
Pandemic Assistance For Dairy Producers
The Agriculture Department announced details of the Pandemic Market Volatility Assistance Program to help dairy producers. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it:
Dairy Products Report Recap
The June Dairy Products report had a few surprises in it but likely isn’t going to influence the market, according to StoneX Dairy’s Dave Kurzawski. He talks about it with Lee Mielke:
Class III Down 72 Cents
The Agriculture Department announced the July Federal order Class III benchmark milk price at $16.49 per hundredweight, down 72 cents from June and $8.05 below the artificially inflated price a year ago when Uncle Sam’s Food Box program was buying lots of cheese. Last year’s price was the second highest Class III ever, at $24.54, just 6 cents shy of the record high set in September 2014.
The seven month Class III average stands at $16.90, down from $17.30 at this time a year ago and compares to $15.58 in 2019.
The July Class IV price is $16.00, down 35 cents from June but $2.24 above a year ago. Its seven month average is at $15.01, up from $13.78 a year ago, and compares to $16.11 in 2019. Courtesy of the Mielke Market Weekly
Eye On Cheese Prices
Lots of eyes are on cheese prices these days and dairy producers have pizza to thank for prices being as good as they are. Lee Mielke talks about it with Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter:
China Dairy Imports Strong
China’s June dairy imports remained strong and record breaking in some cases, according to Lucas Fuess, Director of Dairy Market Intelligence for Chicago-based HighGround Dairy. He talks with Lee Mielke about it, in light of the Global Dairy Trade auction’s continuing weakness:
WASDE Feed Grains Analysis
USDA’s latest World Agricultural Supply and Demand Estimate report didn’t contain many changes on the feed grains side of the ledger. Bill Brooks, Dairy economist and principal of Missouri-based Stoneheart Consulting, talks with Lee Mielke about what it means for dairy farm profitability:
Trade Update
Corey Geiger, managing editor of Hoard’s Dairymen Magazine visits with Lee Mielke on today’s Dairy Radio:
Acreage and Grain Report Recap
The USDA’s much anticipated Grain Stocks report and acreage data had some surprises and warnings on feed prices ahead. HighGround Dairy’s Lucas Fuess talks about it with Lee Mielke:
Dairy Stocks Growing
U.S. dairy stocks are growing. StoneX Dairy’s Dave Kurzawski talks with Lee Mielke about what the May data says about consumption:
U.S. Dairy Cows Producing A Lot Of Milk
U.S. dairy cows produced a lot of milk in May, as they did in April. We’ve also produced a lot of cheese, butter and powder from that milk. But we have also consumed and exported a lot of those products as we hear from Matt Gould, editor of the Dairy & Food Market Analyst newsletter:
Another Shot In The Arm
The Agriculture Department announced additional COVID relief, including $500 million in American Rescue Plan funding, in The Emergency Food Assistance Program or TEFAP. It won’t be as generous to the dairy industry as the Food Box program, according to Nate Donnay, director of dairy market insight for StoneX Dairy in Chicago. He talks with Lee Mielke about it on today’s Dairy Radio:
Problems Persist at Ports
Congestion at U.S. ports and the truck shortages within the U.S. has challenged the U.S. dairy industry at an inopportune time. Matt Gould, editor and analyst with the Dairy and Food Market Analyst newsletter, talks with Lee Mielke about it on our Mielke Monday:
Cold Storage Reports Good News
The Agriculture Department’s April Cold Storage report had some good news for dairy farmers, according to HighGround Dairy’s Lucas Fuess. He talks with Lee Mielke about it as well as some breaks in feed prices.
Falling Cheese Prices
Cheese prices fell this week as traders anticipated Thursday’s April Milk Production report. StoneX dairy brokers talks about it with Lee Mielke:
WASDE Recap
Lucas Fuess of High Ground Dairy in Chicago updates Dairy Radio listeners on the latest market conditions on today’s Mielke Monday, with Lee Mielke:
Federal Milk Marketing Under Scrutiny Again
Federal milk market orders are under scrutiny again as many dairy producers suffered significant losses in income last year due to de-pooling provisions and negative producer price differentials. National milk has called for an emergency hearing on the issue. Lee Mielke talks about it with Hoards Dairyman’s Corey Geiger:
Will Milk Prices Keep Up With Feed Costs?
Rising feed costs are putting the squeeze on dairy farmers bottomline. Will milk prices keep up? Lee Mielke poses that question to StoneX dairy broker Dave Kurzawski:
March Milk Production
March milk production was anything but bullish. Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter updated Dairy Radio listeners with Lee Mielke:
Dairy Data Update
The Biden Administration has elected to end the Food Box program at the end of May but it appears the Dairy Donation program will remain. We’ll get some response to that and a look at February dairy product commercial disappearance data with HighGround Dairy’s Lucas Fuess.
U.S. Dairy Exports Lookin’ Good
FC Stone X Group dairy broker Dave Kurzawski is Lee Mielke’s guest this week:
What’s In it For Dairy?
There seems to be no end to the money from Uncle Sam to offset the effects of the COVID. We talked about what’s in it for dairy with Matt Gould, analyst and editor of the Dairy and Food market Analyst newsletter:
Cheesy Discussion
How well do you know your cheese? We talk about Cheddar blocks and barrels in price discovery but what about Mozzarella? Hoards Dairyman’s Corey Geiger talks with Lee Mielke about a recent discussion on cheese on Hoard’s Dairy Livestream:
Global Dairy Trade Auction Recap
Tuesday’s Global Dairy trade saw whole milk powder take a tumble but HighGround Dairy’s Lucas Fuess says powder prices are still high, thanks to China. He talks with Lee Mielke about it and how a shipping container shortage is hurting U.S. exports:
Dairy Farmers Face Uncertainty
Uncertainty seems to never end in the dairy industry and right now dairy farmers face some challenging contrasts. U.S. milk output is rising as we enter the spring flush, but will rising demand and exports offset that. Lee Mielke talks about it with StoneX dairy broker Dave Kurzawski:
Thinking Outside The Food Box
Shock waves hit the dairy industry when the Biden Administration announced that it would not be renewing the food box program, a program that has greatly benefited the dairy industry. But the news isn’t all bad, according Matt Gould, editor and analyst of the Dairy and Food Market Analyst newsletter, who sorts it out with Lee Mielke on Dairy Radio Now’s Mielke Monday:
California Milk Production Lowered
The January Milk Production and Cold Storage reports had a little fodder for the dairy market bulls however some of the milk production data is suspect, according to HighGround Dairy’s Lucas Fuess. He talks about it with Lee Mielke:
Dairy Market Uncertainty
A lot of uncertainty surrounds the dairy markets which are waiting to see what will happen to government assistance, such as the food box feeding program. StoneX Dairy broker Dave Kurzawski talks with Lee Mielke about it:
Farmers Face Export Challenges, Higher Feed Prices
U.S. export data for December left a lot to be desired, but data for the year was record breaking. Lee Mielke talks about it with HighGround Dairy’s Lucas Fuess as well as some export challenges we’re now facing as well as the high dairy feed prices.
U.S. Milk Production Gushing
U.S. milk output is gushing and several cooperatives have instituted supply management programs, even as milk is being dumped in some regions. Lee Mielke checks in with Matt Gould, editor and analyst of the Dairy and Food Market Analyst newsletter:
Bearish Dairy Data
The dairy industry got hit with some very bearish data this week. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it and where there might be a silver lining:
Food Box Program Gives Dairy Boost
The renewed Food Box program promises support for dairy prices, “For now,” says StoneX dairy broker Dave Kurzawski. He talks with Lee Mielke about it:
Chatter Over Pricing Formula Changes
There’s been some chatter about how we price milk in this country and changes are being discussed, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it, and has a warning on what’s coming in 2021 feed costs for dairy farmers:
High Ground Analysis
2021 had a good start with a strong Global Dairy Trade auction and word that Uncle Sam will continue USDA’s Food Box program. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it and also analyze the November Dairy Products report:
New Year, Same Pandemic
2020 “Redefined what we thought could happen in the dairy market and what is normal,” says StoneX dairy broker Dave Kurzawski. He warns that we are still in the pandemic and just because we’re changing the year doesn’t mean the world is going to be a whole lot different. He talks with Lee Mielke about it:
Vilsack Back As Ag Secretary
Some in the dairy industry applaud the pick of Tom Vilsack as Secretary of Agriculture in the Biden Administration, due to his current position heading the U.S. Dairy Export Council. But that may or may not be totally positive, according to Matt Gould, analyst and editor of the Dairy and Food Market Analyst newsletter. He talks with Lee Mielke about it:
Restaurant Changes Affecting Dairy Markets
Government lockdowns of restaurants across the country has huge ramifications for agriculture, including dairy. StoneX dairy broker Dave Kurzawski. talks with Lee Mielke about it:
PPD Price Gap Continues
The November Federal order Class III milk price hit $23.34 per hundredweight, up $1.73 from October, but a huge gap remains between Class III and Class I prices and portend continued de-pooling and large producer price differentials shorting dairy farmer milk checks. HighGround Dairy’s Lucas Fuess talks with Lee Mielke about it on today’s Dairy Radio Now:
Looking Down The Road
With Thanksgiving in the rear view mirror, the dairy industry wonders what is down the road for dairy product prices. Lee Mielke talks about it with Dairy and Food Market Analyst editor Matt Gould:
Milk Production Ramifications
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 Falling, Feed Prices Rising
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:
Thank You Rep. Peterson
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.”
Milk Price Up $5.18
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
U.S. Milk Production Keeps Climbing
Matt Gould of the Dairy Market Analyst Weekly Report newsletter joins us on the day before the general election to discuss the dairy markets:
Is U.S. Dairy Herd in Expansion Mode?
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:
Market Update
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:
Milk Price Roller Coaster Continues
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:
Food Box Deliveries Slowing Down
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: