USDA’s Dairy Product report indicates February’s butter production was the highest on record on an average-daily basis, up 2.2 percent from a year ago, when adjusted for Leap Year, to 185.6 million pounds. Production of both nonfat dry milk and skim milk powder jumped as well. With manufacturers producing a combined total of 215.9 million…
The dairy price index on the latest Global Dairy Trade auction on March 16 fell 3.8 percent to $4,089 per metric ton, marking the first decrease in the price since November 3, 2020. Steep declines in the whole milk powder price pulled down the average price, with whole milk powder prices falling 6.2 percent from…
US total milk production was up 2 percent year-over-year to 17.63 billion pounds in February, when adjusted for leap year. This marks the ninth consecutive month of increased milk production. The US dairy herd grew 9.458 million head in February, up 3,000 head from January, an increase of 81,000 head from a year ago, and…
The average dairy price on the latest Global Dairy Trade auction fell 3.8 percent, marking the first session-to-session decline since November 2020 and the largest decline since April 2020. Whole milk powder accounted for more than half the sales at this auction, with the whole milk price falling 6.2 percent. The butter price fell 2.8…
Butter production climbed 7 percent year over year to 207 million pounds in January, marking the largest January butter production ever. Cheese production was also strong, with total cheese production during the month topping 1.1 billion pounds, up 0.5 percent from a year ago and also a record for January. Cheddar cheese production increased 5.7…
February’s Class III milk price was announced at $15.75 per hundredweight, down 29 cents from January and $1.25 below year-ago levels. The Class IV price was announced at $13.19 per cwt., down 56 cents from January and $3.01 below February 2020’s price. Read More
Total milk production in January was up 1.6 percent from a year ago to 19.17 billion pounds, with 85,000 head more cows and 0.6 percent more milk per cow. Cow numbers were up 8,000 head from December, with the nation’s dairy herd at its largest since 1995. Total milk production for 2020 was up 2.2…
The latest USDA Livestock, Dairy and Poultry Outlook summarized the 2020 dairy situation by pointing to strong dairy export growth, a Class III price that exceeded the weighted-average Class I price in all but four months of the year, and dairy product stocks that built considerably during the year. On a milk-fat basis, ending dairy…
USDA’s World Agricultural Supply and Demand Estimates report released last week indicated that producer margins could remain tight through 2021. With exports projected to be higher this year, the corn farm price is expected to average $4.30 per bushel, up 74 cents from a year ago. Soybean export estimates were also increased, with ending stocks…
USDA announced the January Class III milk price at $16.04 per hundredweight, down $1.01 from a year ago but 31 cents above December’s. The Class IV price was announced at $13.75 per cwt., down $2.90 from a year ago but up 39 cents from December. Read More
