The T.C. Jacoby Weekly Market Report Week Ending August 30, 2024
The bears went into hibernation a little early this year, and the bulls enjoyed raucous celebrations on LaSalle Street. Milk and dairy product futures soared to life-of-contract highs amid continued barriers to growth.
The bears went into hibernation a little early this year, and the bulls enjoyed raucous celebrations on LaSalle Street. Milk and dairy product futures soared to life-of-contract highs amid continued barriers to growth. Despite the best profit margins in years, the heifer shortage has limited U.S. dairy producers’ ability to add cows and rapidly expand milk production. And disease is further restricting milk output on both sides of the Atlantic. Blue tongue disease
afflicts cattle in Europe, while avian influenza continues to circulate in the United States. This week, the California Department of Food and Agriculture announced that it has tested three herds in the San Joaquin Valley for avian influenza, with results expected next week. The trade presumes that bird flu is present in the region, which is home to an astounding concentration of the nation’s dairy cattle.
Sept. 2, 2024
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