Weekly Forecast Update – Oct. 6, 2023
Forecast updates Cheese: While the data remains largely positive for cheese demand, sellers continue to place sell-side pressure on the market. As a result, Ceres reduced the Q4 2023 and Q1 2024 forecast and widened the block-barrel spread. There are some concerns about foodservice demand that could slow needs at the end of the year. But the jury is still Read more
Monthly Forecast – October 2023
Forecast updates Cheese: While the data remains largely positive for cheese demand, sellers continue to place sell-side pressure on the market. As a result, Ceres reduced the Q4 2023 and Q1 2024 forecast and widened the block-barrel spread. There are some concerns about foodservice demand that could slow needs at the end of the year. But the jury is still Read more
Weekly forecast – Sept. 29, 2023
Forecast updates Weekly updates: Updated markets for spot – increased butter through the end of the year. Raised Q1 2024 butter price outlook compared to last forecast. Adjusted CME spot cheese based on lower markets at the end of September – still expect prices to lift into October and November. No significant changes to dry product forecasts. Milk Market There Read more
Weekly Forecast – Sept. 22, 2023
Forecast updates Weekly updates: Updated markets for spot. Increased butter price outlook through 1H 2024 – moved prices up. Spot prices reached $3/lb – increased the price outlook through November. Smaller increases forecast for DEC23 to MAR24. No significant changes to cheese, NDM and whey. Milk Market AMS released the October 2023 Advanced prices – Class I will be $19.47/cwt Read more
Weekly forecast – Sept. 15, 2023
Forecast updates Weekly updates: No significant changes this week – updated for spot markets, some adjustments to whey and lactose. Raised whey and lactose as prices are rising slowly and lactose stocks remain less than a year ago. Reduced OCT and NOV spot cheese. No changes to butter. Reduced SEP DMN NDM prices. Milk Market Weather is starting to moderate, Read more
Weekly forecast – Sept. 8 2023
Forecast updates Weekly updates: No significant changes this week – updated for spot markets, some adjustments to whey. Milk Market Milk remains tight as bottlers pulled more milk post-holiday. The school milk system is nearly resupplied, but less milk off the farm has processors looking for milk to backfill shortfalls. Markets have flipped from the July 4 holiday as milk Read more
Weekly forecast – Sept. 1, 2023
Forecast updates Weekly updates: Added 2026 forecast for all products Cheese Maintained SEP23 price levels near current. US prices continue to maintain a premium to EU and NZ prices – that could be problematic for Q4 2023 exports; however, the gaps are minimal compared to the spring suggesting that US may be capable of regaining some share in SEA. Mexico Read more
Monthly forecast – September 2023
Forecast updates Weekly updates: Added 2026 forecast for all products Cheese Maintained SEP23 price levels near current. US prices continue to maintain a premium to EU and NZ prices – that could be problematic for Q4 2023 exports; however, the gaps are minimal compared to the spring suggesting that US may be capable of regaining some share in SEA. Mexico Read more
Weekly forecast August 25, 2023
Forecast updates No significant forecast changes this week. Some modifications to WPC, reducing the value through year-end. Increased 2023 lactose prices; markets appear to be stabilizing. No changes to cheese or butter. Adjusted NDM reduced AUG23 and SEP23 prices and some into 2024 by a few cents. Milk Market Milk remains tight, and USDA confirmed that with the latest milk Read more
Weekly forecast – August 18, 2023
Forecast updates No significant forecast changes this week. Some modifications to WPC, reducing the value through year-end. Adjusted Central and Western whey prices – lifted western prices this week. Increased 2023 lactose prices; markets appear to be stabilizing. No changes to cheese or butter. Adjusted NDM, namely SEP23, prices higher. Milk Market Milk remains tight in most parts of the Read more