World Perspectives
livestock

Dairy is Trading Despite Headwinds

U.S. dairy exporters have kept product moving despite a strong dollar and softer global demand. Prices for dairy have moved higher and are expected to stay that way. Producer fixed costs such as labor and equipment have moved higher, but feed costs are dropping. There is also the threat of HPAI. But competitors also have their cost issues, with New Zealand dairy farmers complaining that their feed costs have risen 5 percent. U.S. dairy exports have not correlated with the change in prices, or the dollar. While global imports dropped 7.8 percent from 2021, U.S. dairy exports are down 4.2 percent over that period. The drop is not impacting higher value-added products like cheese, but more basic coproducts like nonfat milk.  ...

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.2175/bushel, up $0.0525 from yesterday's close.  Dec 25 Wheat closed at $5.1475/bushel, up $0.055 from yesterday's close.  Nov 25 Soybeans closed at $10.2375/bushel, up $0.1075 from yesterday's close.  Dec 25 Soymeal closed at $279.3/short ton, up $5.7 fr...

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