DAIRY TRENDS
Dairy Trends - May 3, 2024
All dairy pricing trends are based on USDA and CME data as of May 1, 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. They also report that domestic inventories remain relatively tight, helping to support prices at these elevated levels.
CHEESE
Concerns about milk production and reports of increased export activity have driven CME block and barrel prices higher, according to analysts. However, they expect these markets to decline in the coming weeks, as production begins to increase and exports become less price-competitive.
SHELL EGGS
According to Urner Berry, all shell egg markets continued to decline 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.
The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.