June 30, 2020: Dairy Week In Review

USDA’s Cold Storage report shows total cheese stocks down 1.6 percent month-over-month to 1.45 billion pounds at the end of May. That counters historical trends for inventories to grow from April to May. Total cheese stocks were up 5 percent from a year ago, despite the 24-million-pound drawdown from April, the largest on record for this time of year. Butter inventories, in contrast, were up month-over-month, increasing 7.6 million pounds or 2 percent to 380.2 million pounds at the end of May. Read More