September 14, 2022: Dairy Week In Review

USDA’s World Agricultural Supply and Demand Estimates report lowered forecasts for corn and soybean production. Soybean estimates were lowered by 152 million fewer bushels from August’s  estimates, with declines in both harvested acreage and yield impacting the decline. Soybean yields are now projected at 50.5 bushels per acre, down 1.4 bushels from last month. Beginning…

September 7, 2022: Dairy Week In Review

Butter production fell to 152 million pounds in July, down 5.3 percent from June but up 3.1 percent from a year ago. Although it was up from a year ago, butter production is still low and pulling  down inventories, which is driving up prices to all-time high levels. Spot butter climbed to $3.10 per pound…

August 31, 2022: Dairy Week In Review

The all-milk price for July was announced at $26.90 per cwt, according to the latest USDA Ag Prices report. That’s flat from June’s all-milk price and about 50 cents below May’s high. Feed prices  though were higher in July, with corn and soybean prices both increasing from last month. Preliminary calculations have this month’s DMC…

August 24, 2022: Dairy Week In Review

Total milk production in the US was up just 0.2 percent in July, increasing to 19.1 billion pounds for the month. The increase was driven entirely by a 19 pound increase in production per cow, with the nation’s dairy herd averaging 2,033 pounds during the hottest month of the year. Cow numbers in the nation’s…

August 17, 2022: Dairy Week In Review

The latest USDA World Supply and Demand Estimates report reduced corn acres a slight 100,000 acres (-0.1%) to 89.8 million acres, while yield was adjusted down 1.6 bushels (bu) per acre, or  0.9 percent, compared to last month’s report to 175.4 acres. There were 3.6 million fewer acres planted in corn this year compared to…

August 10: Dairy Week In Review

Total cheese production was up 2.7 year over year to 1.16 billion pounds in June, down 2.3 percent from May. American type cheese was up 1 percent from a year ago, while Italian type cheeses  were up 4.2 percent. Butter production was up 2.3 percent from a year ago to 161 million pounds, down 10.9…

August 3, 2022: Dairy Week In Review

USDA announced the July Class III milk price at $22.52 per hundredweight, down $1.81 from last month but $6.03 above year-ago levels. Class III milk prices peaked in May and continue to  trend down for the rest of the year, with the Class III price on CME milk futures for the last five months of…

July 27, 2022: Dairy Week In Review

Total milk production in the US increased 0.17 percent year-over-year to 18.975 billion pounds in June, according to the latest USDA Milk Production report. This was the first year-over-year increase since  October 2021 and was driven by a 1 percent gain in milk production per cow, up 20 pounds to 2,014, the  largest gain in…

July 20, 2022: Dairy Week In Review

The latest USDA Livestock Slaughter report shows fewer dairy cows headed to market in 2022 than in 2021, despite higher beef prices. From January through May, 38,000 fewer dairy cows were  sent to slaughter, down about 3 percent from a year ago. That declining trend reversed in May, though, with dairy cow slaughter up 1,800…

July 13, 2022: Dairy Week In Review

More than 579.2 million pounds of dairy products moved overseas in May, marking the largest monthly export volume ever and an increase of 4.8 percent year over year. During the first five  months of 2022, nearly 2.6 billion pounds of dairy moved overseas, up 1.3 percent from a year ago, according to the latest report….