|
Milk Prices
According to Robert Cropp's Dairy Outlook, "USDA’s latest price outlook shows the recovery in milk prices to be a slow process. Class III
futures also show a slow recovery. However, Class III futures showed improvement last week.
September 18th Class III futures for December settled at $13.97, January 2010 at $14.03, July at
$15.01 and December at $15.80. I remain more optimistic than this with the possibility of Class
III above $14.00 by December, near $16 by July 2010, and in the high $16’s by December 2010.
But, for these higher prices to occur milk production needs to continue to decline into 2010 and
domestic sales needs to show improvement. History tells us that milk prices can increase rather
quickly with anticipation of tightness in the market. So it is not without the possibility that prices
could recover quicker and higher than this and that surely would be a great."
Milk Futures on the Chicago Mercantile Exchange |
9-28-09 |
Sept |
Oct |
Nov |
Dec |
Jan 10 |
Feb |
Mar |
Apr |
May |
June |
| Class
III |
$12.07 |
$12.62 |
$13.50 |
$13.98 |
$14.02 |
$14.24 |
$14.27 |
$14.16 |
$14.35 |
$14.65 |
| Class
IV |
$11.06 |
$11.35 |
$11.61 |
$11.81 |
$12.33 |
$12.37 |
$12.47 |
$12.47 |
$12.57 |
$12.82 |
| Butter
Futures |
$1.18 |
$1.26 |
$1.29 |
$1.31 |
$1.35 |
$1.35 |
$1.37 |
$1.37 |
$1.35 |
$1.39 |
| Current
USDA Milk Price Forecasts |
9-17-2009 |
3rd Q 2009 |
4th Q 2009 |
1st Q 2010 |
2nd Q 2010 |
| Class
III Price |
$10.81 to $11.01 |
$11.50 to $12.00 |
$12.42 to $13.22 |
$13.17 to $14.17 |
| Class IV Price |
$10.30 to $10.60 |
$10.60 to $11.20 |
$10.97 to $11.87 |
$11.94 to $13.04 |
| Source:
USDA,
ERS, Livestock, Dairy & Poultry Outlook |
Historical Missouri milk prices may be found at: http://agebb.missouri.edu/dairy/mkt/index.htm |