Low cheese prices keep Class III milk price low
Dairy producers will have to continue managing their way through low Class III milk prices, ranging between $16.50 and $17 into September, said Bill Buckner, dairy and grains analyst for AgResource Co. Buckner spoke during a recent Professional Dairy Producers Dairy Signal webinar.
“Whether you are talking crude oil, wheat, soybeans, corn or cheese, the global market takes priority over us,” he explained. “It is clear the global cheddar market has not found that price that encourages demand growth, but I do think we are close.”
Buckner said the U.S. market does look very cheap compared to global markets, and he believes the U.S. is positioned for cheese prices to start going up in October when exports of U.S. cheese are expected to rise.
July 17, 2023