CME: Less Replacements in the Pipeline
US - Cheese buyers were more aggressive friday, acquiring 20 loads of barrels and six loads of blocks, pushing prices higher for the first time in three weeks, writes Alan Levitt.
30 January 2012
1 minute read
Butter continued to slide.
Milk futures were mixed friday and generally ended the week where they started. Contracts
covering 2012 average $17.00, unchanged from last Friday. First-half contracts increased
4¢, second-half contracts dropped 4¢.
Butter, whey and NDM futures sold off this week. Butter dropped 4.9¢ in the 2012
contracts. The first half averages $1.5780, the second half averages $1.6625.
Whey futures were hit the most in contracts for the second quarter. APR-JUN futures
average 54.6¢, down 4.9¢ from a week ago. NDM futures for FEB-MAY average $1.36,
down 3.3¢ from last week.
The biannual “Cattle” inventory report shows fewer replacement heifers in the pipeline.
On Jan. 1, there were 4.53 million replacements, down from 4.57 million heifers a year ago, according to USDA’s report released this afternoon
(see chart). There were 49.0 replacements for every 100 cows, down from 49.9 at the start of 2010.
NASS dairy product prices for the week ending Jan. 21: cheddar blocks $1.5899 (+1.75¢ vs. the prior week); barrels $1.6053 (-0.28¢); butter
$1.5923 (+0.95¢); nonfat dry milk $1.3654 (-4.95¢); dry whey 71.13¢ (+0.92¢)
Further Reading
 | - | You can view the full report by clicking here. |
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