DAIRY TRENDS
Dairy Trends - June 28, 2024
All dairy pricing trends are based on USDA and CME data as of June 26, 2024.
BUTTER
The butter market is down slightly compared to last week. While butter remains in high demand globally, strong churn rates and building cold storage levels continue to put downward pressure on pricing, according to analysts.
CHEESE
CME barrel markets declined this week, giving back some of their gains from the past couple of weeks. Meanwhile, the CME block market was relatively steady, as seasonally increasing production and large cold storage levels are balanced by solid demand and less milk availability, according to analysts, who note that the recent lengthy period of elevated cheese prices should start to result in diminished domestic demand.
SHELL EGGS
According to Urner Berry, West Coast egg markets are flat, while all other egg markets are down, due to demand falling back in line with seasonally expected levels, along with adequate supply.
MILK & CREAM
Analysts report that domestic milk availability is beginning to decline, as rising heat across the nation reduces output, and that seasonal ice cream demand is rising, which should reduce overall cream availability for churning operations through summer.
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.