Peter ullrich made some interesting predictions at the recent eDairy Outlook Conference according to their news release. Here’s a few of them.

While dairy markets have turned bullish of late, no one is predicting a return to record high milk prices anytime soon. That is, no one except for Peter Ullrich, president and CEO of Ullrich Analytics, Plymouth, Wis. Ullrich was one of several speakers at eDairy Inc.’s third annual Outlook Conference, Navigating the Global Marketplace, held Aug. 28 and 29 in Chicago. Ullrich is also predicting $5 per bushel corn, lower interest rates, and a return to record-high butter prices.

A technical analyst, Ullrich says, “I don’t study the fundamentals of a commodity or financial market as much as I study the behavior of those who already have researched this information and are trading it in the market. My computer system measures the human rhythms of these traders over the past, and then projects mathematically how these rhythms are likely to extend forward into the future.” And the future looks bullish for
cheese and butter.

Ullrich told those attending eDairy’s conference that his charts show that the Class III milk contract will soon retest its prior all-time high of $20.60 made in May 2004. “Using technical jargon, the contract now is in ‘long-term wave-5 up,’ which projects to at least $20.60 or higher,” Ullrich notes. “Wave-5 up usually means higher
highs. My charts show that this new high should be made sometime near January 2008, but wave-5 up is a very strong indicator, so we could see the Class III contract hit $20.60 even sooner.”