Have Milk Prices Bottomed?

21 Mar in Blog, commodity trading, futures broker, milk futures

 Milk Futures--- Milk prices surged today finishing higher by about 35 points in the May contract to finish at 15.55 closing right at a four week closing high. Since March 5th which was the spike down in prices closing right on the lows that day at 14.20 but since that day milk prices have dramatically risen up 135 points just in the last four weeks and in my opinion looking towards contract highs in the next couple of months which is 17.60 which was hit in the second week of January due to strong demand and general rise in commodity sectors as a whole. Milk prices here in the Chicago land area are as cheap as I can ever remember yesterday I had gone to COSTCO with my family and purchased several gallons of milk and I was only charged 1.68 per gallon which is as low of a price I can remember in recent time. At that level farmers have difficult time making money so I am hoping that prices can continue their upward trend in the last month or so and head towards contract highs where milk prices should be to help dairy farmers. In 2008 I remember paying $4.00 a gallon for milk so look how dramatically prices have come down while many other commodities are right near their all-time highs. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.

 

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