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On Cows and Markets

By  E. W. Lang

Cheese buyers became active this week, both in the retail and food service sectors, this according to USDA Dairy Market News. Cheese is 30 cents per lb. over the C19-influenced bottom, and blocks closed today at $1.31 per lb., up 10 cents for the week. Barrels are up eight for the week and closed at $1.27 per lb.

Butter, likewise, was up 10 cents at $1.29 per lb. NFDM gained three at 82 cents per lb. Whey was steady at 40 cents.

2020 Class III Milk Futures run from May's $11.48 to $16.02 in September and October, an increase of 16 cents to $1.49 in each month. Class IV runs from $10.17 per cwt. to $14.99 a year from now.

A dispersal of 400 Holstein cows averaging 108 lbs. were in the offering at Premier Sales in Withee, Wisconsin, today. Top sellers ran from $1800 to $2400, while top Holstein springers ran from $1350 to $1675 per head.

Also at Premier, most dairy slaughter cows were called 'stronger' at 45 to 52 cents per lb. Butcher hogs were 25 to 30 cents per lb.

Unemployment figures released today call 14.7% of the population out of work and looking for jobs. A broader figure of 22% reflects the total unemployed including those out of work and not looking for jobs in light of C19. This 22% figure would be equal to the U.S. Great Depression unemployment rates of the 1930s, and twice the 10% unemployment rates of U.S. recessions in 1982-83 and 2007-08.

The NASDAQ has now gained 1.7% year to date, while the S & P 500 remains down 9.3% YTD. The Dow 30 Industrials are -14.7% for the year, thus far.

I have been on Interstate 80 several times this spring. Traffic ran from very little yesterday, last week and last month to a lot today, as the State of Iowa is reopening. It appears that for all of the United States the quarantine is over, and it's just a matter of what government is going to do about it.

County Attorneys and County Sheriffs - Counties Sheriff, if you prefer - are up for election every four years. Many are more than willing to defy their Governors' shelter directives in the interest of serving their constituents, as well as their own re-election interests.

In addition, the local constabulary are really, really tired of concerned citizens dialing 9-1-1 to report, "There are CHILDREN outside PLAYING in the PARK!" and other malfeasance, all in direct violation of C19 ordinance.

 

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