January 13, 2021: Dairy Week In Review

Feed prices jumped this week with the latest World Agricultural Supply and Demand Estimates report showing dramatically reduced supplies of both corn and beans. Corn production estimates were cut by 324 million bushels to 14.182 billion, with an average yield drop of 3.8 bushels per acre. Projected corn use was also cut by 250 million bushels and exports were lowered by 100 bushels. Still, the demand cuts were not significant enough to fully counter the decrease in supply, with ending stocks down 150 million bushels. Estimated soybean production was reduced by 35 million bushels to 4.135 billion bushels, also due to lower yield productions, with ending stocks down 35 million to 140 million bushels. Read More