Today, at the CME, block Cheddar wet to $1.51 per pound. Grade A NFDM went up 2 1/4 cents to $1.3950 per pound. Butter remained at $2.10 per pound. Baring any significant change, dairy farm milk price will rise dramatically.
However, nobody hitched in from either coast to run CME prices up. It is the same crowd which has participated in running them down. they do what they do because they can.
In January 2007, I spoke at a meeting and put a slide up which showed where some big players thought milk price might go. At the peak I said this is where most dairy farmers will go to sleep. But, the important time to have a discussion about pricing system change is when the price is high.
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I predict those that manipulate the CME and have been fined for manipulating the CME and are still doing so through other means will keep the prices up during the upcoming law suits.
ReplyDeleteThat way, when the farmers are stating their case about low milk prices, the other side can say, "Look at what the farmer is getting for milk now and they are complaining??"
Never mind that the jury will hear about the lows, it'a all about what the price is now.
Also the farmers will need more money so it can be deducted from their checks to pay the lawyers and the settlements.
ReplyDeleteThey must have some of the over age 30 days or more cheese in inventory already committed for Mexico whenever the Trade issue is resolved over the truckers.....
ReplyDeleteSince it the usual suspects doing the trading, I detect no empathy on their part. It is a simple case of the parasites realizing the host is about dead.
ReplyDeleteRusty
If only that were true Rusty. Most parasites continue right through the death.
ReplyDelete