A tightening cheese supply is sending prices higher globally.
This month cheddar block prices reached $2.27 per pound. Cobank says that is the highest price in 27 months.
Class III Milk futures are also on the rise, with the bundle average reaching $22.90 in the week following Labor Day. While higher prices moving into the fall is great, traders do not believe they will hang around for long.
CME has the four-month average for January to April 2025 Class III features at just $19.80.
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The proposed USDA rule would replace negative pay adjustments with a guaranteed minimum base rate for poultry growers.
Reduced slaughter numbers and stronger export demand are helping push livestock by-product values higher.
LSU economist Dr. Michael Deliberto says fewer planted acres could tighten supplies and support prices for producers.
The Rural Mainstreet Index remained below growth neutral for the fourth straight month as grain prices stay under pressure.
Markets have been slow to respond as crop stress worsens across major winter wheat regions, where quality ratings have fallen to multi-decade lows.
Dr. Derrell Peel says the longer the border remains closed to Mexican cattle imports, the more likely some industry changes could become permanent.