USDA announce the March Class III milk price at $16.34 per hundredweight, up 26 cents from February but still $1.76 down from year-ago levels. In contrast, the March Class IV price was announced at $20.09 per cwt., up 24 cents from February and $1.71 above year ago levels.
USDA announced the February margin under the Dairy Margin Coverage Program this week at $9.44 per hundredweight, just six cents below the $9.50 threshold. The margin will result in a $0.06 per cwt. indemnity payment for those covered at the maximum level, or just under $50 on one million pounds of production history. The all-milk…
The latest USDA Cold Storage report shows cheese inventories up 1.7 percent from a year ago to 1.46 billion pounds in February 2024. American cheese stocks were up 2.9 percent from a year ago but down 7 percent from last month. Other type cheeses were up 1 percent from a year ago. Butter inventories were…
Total milk production in the US was down 1.4 percent year over year to 18.105 billion pounds in February, when adjusted for Leap Year. Cow numbers were down 89,000 head from a year ago to 9.33 million head, up 10,000 head from last month. Milk production per cow in the US fell 0.4 percent from…
Food prices are trending down, according to the latest Food Price Index (FFPI) levels reported by the Food and Agriculture Organization of the United Nations. The latest report shows the FFPI index falling 0.7 percent in February to 117.3 points, marking the eighth consecutive month of declines. The index peaked in March 2022 at 160.3…
USDA announced the February Class III milk price at $16.68 per hundredweight, up 91 cents from January but down $1.70 from a year ago. The February Class IV price was announced at $19.85 per cwt., up 46 cents from January and 99 cents above last February’s price. Looking ahead, Class III futures prices average $16.56…
Cheese and butter inventories were both from a year ago in January. In the latest USDA Cold Storage report, total cheese stocks as of Jan. 31 were at 1.45 billion pounds, up 0.5 percent from a year ago but down 0.8 percent from last month. Inventories of American-style cheeses were down slightly from a month…
Total milk production in the US was down 1.1 percent year over year to 19.09 billion pounds in January. Last month’s milk production, however, was up about 1.3 percent from December 2023. The nation’s milk production has fallen year over year in six out of the last seven months. Cow numbers in the nation’s herd…
The latest data shows that US total annual dairy export volumes were down 7 percent in 2023 to 2.240 million metric tons in milk solid equivalents. US Dairy Export Council attributed the decline to a soft demand and increased competition from other dairy exporters. The total dollar value of dairy exports was down 16 percent…
The latest USDA numbers show total cattle inventories dropping another 2 percent in 2023 to 87.2 million head of cattle and calves on U.S. farms as of Jan. 1, 2024. As lingering drought continues to affect key beef regions in the US, the number of beef cows are down to 28.2 million head nationwide, also…
