Missouri Dairy Business Update
According to Bob Cropp's December Dairy Outlook, "Hopefully the cheese prices have bottomed and perhaps show a little strength over the next month or two, but butter prices are likely to decline some more and nonfat dry milk and dry whey prices may hold or show some strength. But, with these lower dairy product prices the December Class III price will be about $14.50 compared to $15.31 in November. The Class IV price will be about $15.79 compared to $16.48 in November. But, unless prices do rally, which is not likely over the next couple of months we could see the Class III price in the low $13’s first quarter of next year and the Class IV price below $13.00."
"With lower U.S. prices and higher world prices U.S. dairy exports should improve by the second half of the year. With slower growth in U.S. milk production and improved exports milk prices will show recovery. The Class III price could well be in the $15’s by the third quarter and the $16’s in the fourth quarter with peaking in the low $17’s a possibility."
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|CME Class III and Class IV Milk Futures|
Class III Milk
Class IV Milk
Historical Missouri milk prices including comparisson to the USDA National All Milk Price used foor MPP may be found at:http://dairy.missouri.edu/mkt/index.htm