The Latest: June - 2026
Powder Prices Race to Reality
The ink ran red on LaSalle Street once again this week. The milk powder market led the retreat, with dramatic declines in CME spot nonfat dry milk (NDM) Monday, Tuesday, and Wednesday. But the bulls evinced some cautious optimism on Thursday, the last trading day of this holiday-shortened week, when spot NDM found a toehold and inched up slightly. Spot NDM finished the week at $1.64 per pound, down 14.5ȼ from last Friday.
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Although there is plenty of milk, there is a shortage of fresh cheese and demand remains resilient despite the price.
View reportFears that the meteoric rise was all sparkle and no substance were doused by buyer’s willingness to step in and make a purchase, rather than sit on the sidelines and let the selloff run its course.
View reportA steep decline in milk output in May likely slowed cheese production and tightened the supply of fresh cheese for sale in Chicago today, prompting the remarkable run in the spot market.
View reportAfter a few days romping around LaSalle Street, they left abruptly. By Thursday the market had run out of positive fundamental news with which to fill their troughs.
View reportThe markets sprinted straight uphill on Monday and with amazing stamina and speed, they maintained their frantic pace. They finally tired on Friday and despite the late-week retreat, the total mileage is impressive.
View reportThe pandemic sickened the dairy markets in April, creating immense pain on the farm. But there are better days ahead.
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