The light at the end of a long tunnel has brightened for the dairy industry.
For the first time since November 2014, the October protein price topped $3.00/lb. The October 31 CME cheese prices were $2.2875 for barrels and $2.1750, which pushed November Class III futures of $20/cwt. To look at these futures more in-depth, view this week’s National All-Jersey Market Update.
After nearly five years of low milk prices, this is a welcome sight for dairy producers. While it is not a fix-all, it certainly will certainly aid in brightening outlooks as we enter the holiday season. At USJersey, we are thankful for the Jersey cow who will help bring even further premiums to her owners!