date:Apr 02, 2014
ing demand, and the pace of import buying has caught a lot of people off guard, said Bill Schieck, an economist with the Dairy Institute of California, the largest U.S. milk-producing state. The number of cows, as best as we can tell, is down, which has left a huge hole that theyre trying to fill.
Class III milk futures, which track a variety used to make cheese, are up 23% this year on the Chicago Mercantile Exchange, after touching a record $24.15 per 100 pounds on March 24. That same day, a