Market Updates for January 3, 2020

Section Type

Dairy | Cheese

The CME Block and Barrel markets have seen some untraditional moves in recent weeks.  Speculators feel this is not due specifically to a demand element or supply element but a combination of both.  Current run-up we have seen is a combination of holiday buying and no extra product available to be taken to the market that fits the specific spec, but there is plenty of cheese to fill orders.  Traders feel there is a light at the end of the tunnel, but the length of the tunnel is still being defined.

Last week:

Block - Up

Barrel - Up

This Week:

Block - Up

Barrel - Down

 

Dairy | Eggs

 The national flock size is down. This is for the most part due to summer flock rotation. Retail demand has also increased.

Last week:

Large -Down

Medium -Down

Small- No Change

This Week:

Large -Down

Medium -Down

Small -No Change

Dairy | Butter

Butter production continues to be active and inventories continue to grow; expectations are for butter pricing to stay relatively stagnant on the spot market over the next few weeks prior to the butter inventory is reset with current levels and previous inventory is ‘wiped out'. 

Last week:

Butter -Down

This Week:

Butter -Down