Commodities tracker

first_imgDairy market forecasters are warning that bakers can expect a sharp increase in dairy prices over the next few weeks and throughout the summer as global prices reach an all time high.Market prices for commodities such as butter and especially milk powders have increased by 30-75% over the past six months, can industry source told British Baker.Drought conditions in Australia and New Zealand also caused milk production to fall by 10% last season and is predicted to be down a further 30% next season.This is one of many contributing reasons for the recent price hikes, which have seen milk increase from 18p a litre to 25p in just six weeks.Global intervention stock levels, which are normally used in times of shortages to keep prices at a reasonable level, have already been exhausted, says the source.Milk processing businesses are diverting more milk back towards the commodity products, where the current returns are greater than those from foodservice and retail products like fresh milk, cream, yoghurt and cheese.To avoid creating an imbalance in the market, all dairy-based products will have to undergo price increases.Dairy commodity product prices and milk prices paid to farmers have been rising over the past six months, says the source. But dairy manufacturers have absorbed these rises by taking a cut in margins.Now, however, price hikes are unavoidable for manufacturers, who are being forced to past these costs onto end users, such as bakery companies.last_img read more

Trojans can’t hold off Tigers

first_imgThe Tigers edged past USC in the AP top 25 on Sunday, even though the Trojans remained undefeated. On a wild weekend in college football, when half the top 10 lost, USC avoided the upset bug that struck Oklahoma, Florida, Texas and Rutgers. But a sloppy 27-24 victory at Washington on Saturday night cost the Trojans the No. 1 ranking they’ve held all season. USC is the first team to lose the No. 1 ranking after a victory since Nov. 3, 2002, when top-ranked Miami dropped after beating Rutgers, 42-17, and No. 2 Oklahoma moved up after a 27-11 victory over No. 13 Colorado. “I have no idea how the points work and how it all adds up,” USC coach Pete Carroll said Sunday night. “It has no bearing on anything for us. It didn’t before and it doesn’t now. “The reason it happened is the way we played, I guess.” COLLEGE FOOTBALL: Despite a win by USC, LSU is AP’s new No. 1. By Ralph D. Russo THE ASSOCIATED PRESS NEW YORK – LSU reached No. 1 the hard way. LSU, which recovered from its own first-half malaise to beat Tulane, 34-9, Saturday, received 33 first-place votes from the media panel and 1,593 points. USC got 32 first-place votes, 11 fewer than last week, and 1,591 points. LSU coach Les Miles said the voters didn’t get up early enough to watch the first half of the Tigers’ victory against Tulane, when they led, 10-9, at the break. “They kind of slept in and got kind of caught up on the score later in the day,” he said Sunday. “We can’t afford to play like that anymore for any length of time, whether it is a half or whatever. We played without the focus or intensity we are capable of.” The voting was the closest since the second poll of the 2002 season, when Miami and Oklahoma tied for No. 1 and each received 27 first-place votes. Twelve voters switched off USC to LSU this week to swing the vote, though one voter, Jon Wilner of The San Jose Mercury News, voted USC No. 1 after having LSU last week. “The main reason I did was because I look at LSU and USC and feel that the Trojans have two quality wins on the road and that tipped the scales toward SC,” Wilner said. “Winning in Lincoln and in Seattle gives them an edge over LSU’s two big home wins (over South Carolina and Virginia Tech).” In the USA Today coaches’ poll and the Harris rankings, USC held on to No. 1, with LSU, Cal, Ohio State and Wisconsin in the top five. The Harris and coaches’ polls are used in the Bowl Championship Series standings to determine which teams play in the national title game. The first BCS standings will be released Oct. 14. The other two top-10 teams to lose this weekend took the largest tumbles in the new rankings. Texas dropped 12 spots to No. 19. Rutgers fell 11 spots to No. 21. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more