The Chicago Mercantile corn contract traded over $7.00 the first week of May, which is the first time we’ve seen that since 2013. Dairy futures, and maybe even spot prices, have been pulled higher by the increasing feed prices.
With all 10,000 of our lakes here in Minnesota currently frozen solid, this may be a strange analogy, but dairy prices move like the waves rippling out from a rock thrown in the water.