USDA’s Milk Production shows June milk production down 1 percent from a year ago to 18.8 billion pounds, with 62,000 fewer cows than were in the herd a year ago. Cow numbers are down 9,000 head from last month to 9.335 million head. Milk production per cow is six pounds behind where it was a…
The latest USDA World Supply and Demand Estimates report is projecting slower growth in US milk production for both 2024 and 2025, with slower growth in per-cow production countering increasing cow numbers. The report also expects export sales to increase, with stronger overall demand driving up commodity prices. The all-milk price was increased to $22.25…
USDA’s latest Dairy Product report shows butter production strong in May, up 4 percent from a year ago to 204.4 million pounds. However, milk powder production fell behind, with the combined production of nonfat and skim milk powder down 15.9 percent year over year to 212.9 million pounds. Total cheese production was up 0.7 percent…
May’s Dairy Margin Coverage margin was announced at $10.52 per hundredweight (cwt), $1.02 over the $9.50 maximum coverage level and did not trigger indemnities at any coverage level. May’s margin was up 92 cents per cwt from April’s margin. Year-over-year, May’s margin shot up from 2023 at $4.83 per cwt, a $5.69 increase. May 2024’s…
Total milk production in the US is still slipping year over year, with the latest USDA Milk Production report showing May’s milk production down 0.9 percent year-over-year to 19.7 billion pounds. Cow numbers were down 68,000 head from a year ago to 9.35 million head, up 5,000 head from April. Milk production per cow is…
Butter prices on the Global Dairy Trade auction reached an all-time high this week, increasing 6.2 percent to reach $7,350 per metric ton, the highest price since the GDT began eleven years ago. The average dairy price index on the GDT was still down 0.5 percent from the last session, dropping to $3,893 per metric…
USDA’s latest Agricultural Supply and Demand Estimates report forecasts the US 2024-25 corn crop at 14.86 million bushels, with an average yield of 181 bushels per acre. The season average price of corn is expected to be about $4.40 per bushel, unchanged from last month’s report. USDA increased the soybean crop projections slightly, increasing ending…
USDA announced the May Class III milk price at $18.55 per hundredweight, up $3.50 from April and $2.24 above a year ago levels. The Class IV price was announced at $20.50 per cwt., up 39 cents from last month and $2.40 above year ago levels. Class III milk prices rebounded this past week, with June…
USDA’s Cold Storage Report shows butter stocks building. Butter inventories were at 361.3 million pounds as of April 30, up 44 million pounds from March to April, representing the largest March-to-April build up since 2020. Butter stocks have been growing at above-average levels in every month this year, with April stocks up 9 percent from…
Total milk production in the US was down again in April, falling 0.4 percent from a year ago to 19.135 billion pounds, the lowest US production level in April since 2020. On the positive side, though, production per cow was up 9 pounds to 2,049 pounds per cow. The number of milk cows in the…
