Monthly Forecast Update

Monthly Forecast Updates for September 2020

  1. Revised October Class I milk price lower vs. previous forecast due to lower Class III and IV prices in September.
  2. Reduced September 2020 Class III milk price forecast due to steep spot price declines at the end of August.
  3. Increased the October 2020 cheese and Class III milk price forecasts higher due to rebound in the cheese market and expectations of tighter supplies at the end of September.
  4. Reduced the CME butter price forecast through 2020 – still expecting a seasonal lift, just not as high as the prior forecast.
  5. Increased the CME block – barrel spread through the end of 2020.
  6. Adjusted NDPSR Cheddar correlations
  7.  Small modification to NDM prices through 2021.