Dairy Market Stuck Sideways
It was a relatively uneventful week for the dairy markets, with only the cold storage report coming out before the Easter holiday weekend. Robin Schmahl of AgDairy says that while futures markets did regain 10 cents of their losses, there wasn’t a whole lot of movement.
The cold storage report came out last week. Schmahl says the report showed a slight surprise on American cheese stocks. American cheese declined compared to January while all other categories included in the report increased.
With no market-moving dairy reports scheduled to release in the near future, attention is turning to the quarterly stocks report to be released later this spring.
“Right now, really the direction of the market is sideways,” Schmahl says. “I don’t anticipate much of a change in that very soon.”
Notable market movements:
- Blocks unchanged.
- Barrels down $0.05.
- Butter down $0.275.
- NFDM down $0.05.
Listen to Robin Schmahl on the Weekly Dairy Market Wrap: