Perfect storm forces dairy prices lower

According to USDA, prices for milk and dairy products for the remainder of 2018 are expected to be lower than previously forecast, due to downward price movements in recent weeks, high stock levels of cheese and whey, relatively weak growth in domestic use and expected impacts of tariffs imposed by China. For 2019, all price forecasts have been lowered except for butter. The Class III milk price forecast for August and September is from $14.70 to $15.70 per cwt.