Volatility continues to be the norm for milk prices as the COVID-19 pandemic continues. However, for the last three weeks, milk prices have trended up more than down, even though much of the U.S. economy is still shut down. In a conference call hosted by the Center on May 26, 2020, Matt Gould, editor and…
After much anticipation, USDA announced how it will distribute $16 bil. in direct payment relief from the Coronavirus Food Assistance Program (CFAP). This program is not meant to cover the full loss, but it will provide much-needed help. The USDA reported April 17 that $2.9 bil. of the total would go to support dairy farmers,…
Despite the negative impacts COVID-19 has had on the U.S. economy and especially the dairy economy, there have been some positive outcomes that hopefully will continue after things return to a new normal. Several states, including Pennsylvania, have started the process of reopening their economies and slowly and strategically lifting some of the restrictions imposed…
We are approaching the 2-month mark of travel and social restrictions and Stay-at-Home orders in Pennsylvania. Last week, Governor Wolf announced a plan to reopen the Pennsylvania economy in phases. The phases include red, yellow, and green. The red phase is the most restrictive and is what the state has been operating under for the…
As we deal with continued market volatility as a result of COVID-19, here is how current milk prices and March production numbers were reported. The major impact as a result of COVID-19 is expected to be much more pronounced when April numbers start being reported in early May. Class III and IV futures continued their…
Unfortunately, things have taken a drastic turn for the worse over the last several weeks, with both the Class III and IV milk futures prices losing over 30% of their value since January. On the positive side, retail stores and processors seem to have gotten supply back on track. Most grocery stores have relaxed purchase…
COVID-19 has interrupted our way of life in some major ways and is hitting milk futures prices extremely hard. In order for us to attempt to get things back to normal, we must do our part to help control the spread of this virus. The World Health Organization (WHO) recommends to “Do the Five!” 1)…
We are certainly in unprecedented times, at least in my lifetime, with the COVID-19 pandemic. This worldwide disease is wreaking havoc on economies across the globe. The U.S. has not been immune to this. The national economy has taken a huge hit with businesses closing and travel and work restrictions across the country. There is…
The unknowns surrounding COVID-19 and how rapidly it may spread are certainly having a negative effect on milk prices. While prices were still relatively favorable in January and the first of February, they have fallen dramatically over the past few weeks. Those farms that locked in the higher prices through risk management are better prepared…
Daylight Saving Time started this past weekend, and it has felt like spring in South Central Pennsylvania the last week or so. Last week, my mother was texting me pictures of daffodils and violets blooming in her yard in North Carolina. I think she was trying to make me jealous, homesick, or both. I found…
