Market News

The rebound continues in dairy markets

Cash cheese barrels gained 5.5 cents and blocks increased 1.5 cents on the Chicago Mercantile Exchange on Wednesday.  The 30-cent barrel-to-block spread of a week ago has shrunk to a nickel.  Butter gained 8 cents on 4 sales and Class III futures with some nice gains across the board.

Holiday orders are increasing with more expected next week when those who buy on the monthly average price will jump in when we switch from the September average price to the October average price.

 

National Dairy Products Sales Report for the week ending October 25th: cheddar cheese blocks averaged $2.22 per pound down 3.9 cents from the previous week.  Barrels were 4.5 cents lower at $2.17; butter dropped 49.9 cents to average $2.20; nonfat dry milk averaged $1.49 down 2 cents and dry whey decreased 1.3 cents to average 63.9 cents per pound.

 

USDA is extending the signup period for the dairy Margin Protection Program to December 5th.   Ag Secretary Tom Vilsack told the annual meeting of the National Milk Producers Federation; “We want dairy producers to have enough time to make thoughtful and well-studied choices.”

In addition, the Secretary announced the deadline for comment on the Margin Protection Program as well as the Dairy Product Donation Program has been extended to December 15, 2014.  Vilsack says; “If our current rules hinder intergenerational changes or if improvements are needed in these programs, then we want to hear from dairy producers.”

Comments can be submitted to USDA via the regulations.gov website at http://go.usa.gov/GJSA

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