Weekly forecast update – Aug. 19, 2022
Forecast updates · No significant changes to forecast this week – updated for spot markets. · Continue to maintain a similar outlook for fall markets – a modest recovery before a more significant decline possible at the end of the year. Milk Market AMS released the September Advanced prices this week. Class I milk is $23.62/cwt – down $1.51 from Read more
Weekly forecast update – Aug. 12, 2022
Forecast updates · No significant changes to forecast this week – updated for spot markets. Milk Market Milk reports were muted this week. The most significant reports included that drought may negatively impact EU milk output this summer; despite forecasts for reduced output, most expect that demand could slow to offset lower supply prospects. Cheese Market Sell-side pressure eased this Read more
Weekly forecast update – Aug. 5, 2022
Forecast updates Added 2025 forecast for milk and all dairy products. Reduced the Class III milk and related product outlook. Adjusted AUG22 cheese prices lower; however still forecasting a market recovery before the end of year above $2/lb. Presently, spot markets are disconnected from the commercial markets suggesting they better reflect specific company issues rather than the overall cheese complex Read more
Monthly Forecast Update – August 2022
Forecast updates Added 2025 forecast for milk and all dairy products. Reduced the Class III milk and related product outlook. Adjusted AUG22 cheese prices lower; however, still forecasting a market recovery before the end of the year above $2/lb. Presently, spot markets are disconnected from the commercial markets suggesting they better reflect specific company issues rather than the overall cheese Read more
Weekly forecast update – July 29, 2022
Forecast updates · Reduced near-term cheese forecast. Markets appear poised to decline for a few more weeks. There is a chance for some price recovery; however, the factors causing pockets of excess cheese will need to be resolved. · Increased August and September butter forecast – left other periods unchanged. · Decreased NDM forecast through November. · Adjusted whey forecasts Read more
Weekly forecast update – July 22, 2022
Forecast updates Spot cheese markets dropped again this week with cheese prices falling to the low 190s for the first time since February. Revised the CME forecast to reflect the potential for lower markets, but still an additional price recovery before the end of the year. Still forecasting a modest recovery into the fall, but the improvement is less than Read more
Weekly forecast update – July 15, 2022
Forecast updates Spot markets tumbled this week with cheese and NDM leading the way. Revised the CME forecast to reflect the potential for lower markets, but still an additional price recovery before the end of the year. Dropped CME cheese prices through July, but expect a modest rebound into August. Dropped prices again in October with a modest recover in Read more
Weekly forecast update – July 8, 2022
Forecast updates Updated 2022 forecast for current markets. Adjusted JUL22 CME blocks modestly lower. No change to barrels. Continuing to hold price recovery for cheese given positive foodservice demand and exports that have largely offset slower retail sales. No change to CME butter. Butter trade remains positive and production lower. Given robust cream demand and slower churning, butter prices could Read more
Weekly Forecast Update – July 1, 2022
Forecast updates: There are no significant forecast updates in 2022, excluding spot market modifications. Most of the adjustments were in 2023 – increasing some price expectations. Lackluster milk from Europe and New Zealand may offset late-year increases from the United States – prices direction may be more influenced by consumer demand later this year, and milk production remains supportive to Read more
Monthly Forecast Update – July 2022
Forecast updates: There are no significant forecast updates in 2022, excluding spot market modifications. Most of the adjustments were in 2023 – increasing some price expectations. Increased prices from Europe vs. previous forecasts. Lackluster milk production continues to thwart recovery efforts. As a result, some products could be modestly higher, but still lower than this year. Further, efforts to conform Read more