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Published: Friday, December 11, 2020
The following is from Lee Mielke, author of a dairy market column known as Mielke Market Weekly.
Rising global prices and a weak dollar are making U.S. dairy exports increasingly attractive to importers, according to the Daily Dairy Report. As demand rises globally, as evidenced both by the sharp GDT price advances and recent strong demand from China, U.S. exporters could begin to move larger shipments overseas, which could offer a lift to U.S. dairy product values, especially milk and whey powders.
Most CME dairy prices entered December a little stronger except cheese. The Cheddar blocks closed last Friday at $1.5850 per pound, lowest since Aug. 11. That s down 9.5 cents on the week and 38.5 cents below a year ago. The barrels finished at $1.40, down 2.25 cents, 82.75 cents below a year ago, and 18.5 cents below the blocks. Eight cars of block sold on the week at the CME and 23 of barrel.