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Economic Update

Milk and dairy, grain futures, fuel, water and Valley weather.

Monthly, mid-month · 5 issues published

Economic Update

What the Economic Update covers

Monthly, mid-month. Milk and dairy class prices, grain and cotton futures, the WASDE, fuel, irrigation district allocations and groundwater, and the Valley weather outlook - the numbers a Central Valley operation actually budgets against.

Markets tracked so far

Every term below appears in an issue we published. It is a record of coverage, not a list of intentions.

Class I milk priceClass III milk priceClass IV milk pricedairy marginscorn futureswheat futuressoybean futurescotton futuresWASDE reportdiesel pricesCVP allocationState Water Projectgroundwater and SGMATulare Lake Basinirrigation district allocationsValley weather outlookEl Nino and La Ninafertilizer pricing
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Sep 152026

Diesel sets a record while corn finds a floor

California diesel set an all-time record of $8.14 a gallon on September 14, up more than $1.50 in five weeks, and December corn has run back over $5.30 with soybean meal at $350 a ton. Cheese blocks closed $1.42 while nonfat dry milk pushed to $1.995, and the Climate Prediction Center now puts a very strong El Nino above 90 percent for October through December.

Milk & dairy · Futures · Fuel · Weather · Water
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Aug 152026

Book fall soil sampling now

An El Niño winter may shorten the post-harvest window. Class I skim drops $2.73, CVP allocation raised, corn $4.48, wheat $6.52.

Milk & dairy · Futures · Fuel · Weather · Water
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Jul 152026

Milk, fuel, futures and the 2026 pistachio crop

Corn around $4.38, wheat $6.32, Class III at $16.15, California diesel about $6.07, plus the water situation and Central Valley weather.

Milk & dairy · Futures · Fuel · Water · Weather
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May 152026

Class III under pressure as the flush peaks

Cheese and butter mixed, corn around $4.35, wheat $5.52, and California diesel at $7.89.

Milk & dairy · Futures · Fuel · Water · Weather
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Apr 152026

Record cow numbers cap Class III

Strong production keeps futures capped near $16.00, and California diesel hits an all-time high at $7.73.

Milk & dairy · Futures · Fuel · Water · Weather
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