Milk Powder Price Tanks
NFDM price are in the tank this July with a low of around 70 cents lb. That is down almost two-thirds from January 2014 when the same commodity was selling for over $2 lb.
Late last year it was $1.75. The downturn in prices is reminiscent of 2009 when a world financial slump helped take down world diary prices below the red ink level. This summer international dairy prices have hit a six-year low as demand for milk powder from major buyers – particularly China, continue to fall even as supply is expected to grow.
California co-ops including CDI in Visalia sell a huge amount of powder on the world market.
Corn Futures Take A Dive
Good news for dairy and livestock operators.
US corn futures are lower based on by good weather for crop development across the US corn belt. Prices have fallen from over $4.50 in mid month to below $3.80 Monday morning (Sept futures).