DAIRY TRENDS

Dairy Trends - April 26, 2024

All dairy pricing trends are based on USDA and CME data as of April 17, 2024.

BUTTER

The butter market continues to set all-time highs for this time of year, as end users continue to build inventories in advance of the stockpiling period that usually runs from July through November, according to analysts who also report that domestic inventories remain relatively tight, helping to support prices at these elevated levels.

CHEESE

CME block and barrel markets reached their highest prices this week since October and September, respectively, with block prices increasing 24% over the past month. Spot loads continue to be reported at levels below class, milk supply remains plentiful, and cold storage inventory is still robust despite a slowdown in production, according to analysts.

SHELL EGGS

According to Urner Berry, all shell egg markets are down sharply this week, due to increasing stability in supply resulting from no new confirmed cases of bird flu in commercial laying flocks over the past week, as well as post-Easter declines in demand.

MILK & CREAM

Analysts report that domestic milk production is solid across the nation, as the spring flush season is underway. They also report that seasonally higher milk output is keeping plenty of cheap cream flowing into the market for churns.