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Gears reversed in the May 15 Global Dairy Trade auction. The weighted average of products offered rose 1.9 percent, following a 1.1 slip on May 1.
Global dairy trade spirits got a lift and so did prices in the April 17 Global Dairy Trade auction.
Dairy prices saw more ups and downs the second week of April.
The USDA is calling on dairy farmers to sign up in the “new improved” Margin Protection Program.
“If China continues to slap U.S. agriculture with retaliatory tariffs, the whey market would be the most vulnerable part of the dairy complex."
Dairy product inventories saw large gains in February, particularly on butter.
Snowstorms in the Northeast caused a number of Midwestern cheese producers to reduce production.
“Margins still remain negative through the first half of 2018 and well below average from a historical perspective.”
The federal order benchmark milk price has dipped further, but looks to be at the bottom for the year.