Dairy Report

August 4, 2009

View Dairy Report (pdf)

June dairy cow slaughter was the 2nd largest for any month this decade. A 2nd 2009 CWT subsidized herd retirement issue is underway which could boost slaughter over the next few months. This should lead to notable milk output declines which are bullish for the dairy markets. CME block cheese is trading at its highest level in 3 months. Charts suggest that additional cheese market increases are likely but the markets could struggle to move past $1.30. New Zealand continues to sell butter on the international market sub $.90 a pound. The US butter market is weak.

Recent Reports

To view Market Reports, you will need the Adobe Acrobat Reader