USDA announced the Class III and Class IV milk prices for August, with the basis between the two now at its closest in the past two years. The August Class III price was announced at $15.95 per cwt., down 54 cents from July, down $3.82 from a year ago, and the second lowest Class III…
Milk production in the European Union and the United Kingdom totaled nearly 14 million metric tons, just below 31 billion pounds, according to preliminary data from Eurostate. European milk collections were 0.8 percent higher than a year ago and up 1.8 percent from May. USDA estimates the European milk cow herd will average 22.4 million…
US dairy exports set a new record in June, up 5.7 percent from a year ago to 199,383 metric tons of milk solids sold overseas. The total export value was also up, increasing 14.7 percent to $670 million. Butterfat volumes exported grew by nearly 65 percent, while whey products also boasted significant increases. Cheese exports…
Feed costs are up nearly $2 per hundredweight since the beginning of the year, according to the latest USDA Ag Prices report. Corn prices were up $1.76 per bushel, while alfalfa hay was up $26 per ton. Soybean prices fell back from May and are down $61.06 from January. The all-milk price was announced at…
US total milk production grew 2.9 percent year over year to 18.955 billion pounds in June, down 900 million pounds from May. Milk per cow was up 1.3 percent, or 26 pounds for the month, while cow numbers were up 153,000 head from a year ago. However, this month marks the first month that the…
Milk prices continue to slide, with Class III prices for the last six months of 2021 now averaging $17.15 per hundredweight, down more than $1 since their peak this spring. Class IV prices are averaging $16.06 per cwt for the last six months of the year, down nearly 50 cents since their peak. …
The latest USDA World Agricultural Supply and Demand Estimates report kept projected 2021-22 corn yields at 179.5 bushels per acre, while the season-average corn price was lowered by 10 cents to $5.60 per bushel. The expected number of acres harvested was increased by 1 million acres, with total production expected to be about 15.165 billion…
The latest US Dairy Products Report shows total cheese output up 5 percent from a year ago and up 1.8 percent from last month to 1.16 billion pounds in May. American-type cheeses were up 7.2 percent from a year ago, while Italian-type cheeses were down 0.2 percent. Butter production was up 7.6 percent from a…
USDA’s most recent Ag Prices report has the May All Milk Price up 80 cents from last month to $19.20 per hundredweight. A 60-cent increase in the corn price coupled with increases in both blended alfalfa hay and soybean meal prices drove up final feed prices to $12, 31 per cwt, an 85-cent increase from…
The US Census shows combined spending at grocery stores, bars and restaurants is at an all-time high of $139.2 billion in May, up 22.8 percent from May 2020 and 3.5 percent higher than 2019, after inflation is factored in. Higher restaurant sales drove some of the year over year increase. However, grocery stores maintained much…
