Margins hold tight despite falling prices
- ZISK APP
- Jul 9
- 1 min read
Dairy prices entered the summer with a bearish tone as cheese and milk powder prices dropped to the lowest level since February. Milk supply growth continues but is slowing heading into mid-year. High energy and gas prices have started to impact demand for some dairy products with softness noted in food service sales. This isn’t likely going to get better anytime soon, and could be a drag on prices in the second half of the year.
Corn prices have followed oil prices down with futures also hitting the lowest point since February. Soybean prices have been more resilient, easing off recent highs, but trading above Q1 levels. Corn and soybean conditions were good as of early July, and weather has been mostly beneficial to early crop development. Oil and energy prices will continue to influence corn prices, and the summer weather outlook will be a key determinant of crop size. Fertilizer cost and availability continue to be a concern globally.
Mike Mccully
July 10, 2026
Comments