Commodity Update

Highlights

  • The butter market continues to find support in the $2.20 per pound area. That is now above EU prices.
  • Freight prices continue to escalate, propelled by solid economic growth, driver shortages and new regulation.
  • Corn began and ended 2017 within a couple of pennies of $3.50 per bushel. Exports are behind year-prior pace.
  • USDA is calling for record world sugar production, but says US output will be flat to slightly lower for 2017/18.
  • Resin prices are stubbornly holding on at levels close to post-hurricane highs.
  • Lower cheese prices are going to be a drag on Class I milk — and farmer incomes — in the months ahead.

 

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Commodity Update January 2018

 

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