December 4, 2020: Last Call for DMC and CFAP2

Dairy markets are certainly difficult to predict, and a global pandemic makes it nearly impossible. In December 2019, milk prices were forecasted to build on the momentum gained in the latter  half of 2019 to be decent in 2020. Of course, there are no guarantees with projections. As we all know, 2020 dairy markets did not behave as predicted last year. COVID-19 reshaped the dairy markets this year and continue to negatively influence milk price futures into 2021. Last April and May experienced the lowest Class III and IV prices since 2009. Then June, July and October had the highest Class III prices since 2014. The July spread between Class III and IV prices reached a record $10.78 per cwt with the two classes of milk continuing to trade at an abnormal spread. 2020 has experienced the most volatile markets in recent memory, if not ever. Read More