USDA increased its projection for ending corn stocks, with exports lowered by 75 million bushels due to increasing competition. With no other changes, corn ending stocks were lowered by 75 billion bushels. The season-average corn price was lowered by 10 cents to $6.70 per bushels. Soybean ending stocks were also increased due to lower exports….
The October Dairy Margin Coverage (DMC) feed cost decreased by 59 cents per hundredweight (cwt) and the U.S. all-milk price increased an unexpected $1.50 per cwt relative to September to improve the DMC margin by $2.09 to $10.71 per cwt. This represents the largest month-to-month increase in the program’s history. The October DMC margin does…
Milk production in the Oceania region was down in October, with Australia production trailing last year’s levels by 6.6 percent and the lowest October production in the last decade at 889.6 million liters. New Zealand’s production was down 2.9 percent from the previous year, with the season-to-date production levels down by 3.5 percent. These combined…
Total US milk production was up 1.2 percent to 18.85 billion pounds in October. Cow numbers were up 31,000 head from a year ago and up 1,000 head from September to 9.418 million head in the nation’s dairy herd. Production per cow was also up 17 pounds, or 0.8 percent, to 2,001 pounds for the…
Global food prices stayed flat from month to month in October, with the global Food Price Index down just 0.1 point from September to 135.9 in October, remaining 2.7 points, or 2 percent higher, than a year ago. The Food Price Index peaked in March 2022 at 159.7, falling 14.9 percent since then. The Dairy…
The US continues to send record volumes overseas, with September dairy exports up 7.7 percent from a year ago in volume. The total value of dairy exports in September was up 20.3 percent. Whey powder exports were up 20.1 percent, with US prices compared to global prices helping to boost sales. US cheese exports were…
The September Dairy Margin Coverage (DMC) margin was announced as $8.62 per hundredweight (cwt) and triggers indemnities at the $9.00 and $9.50 margin coverages. This is a 54 cents per cwt improvement compared to August, driven by a slight increase in the milk price and a more significant decline in the DMC feed cost. After…
US total milk production was up 1.5 percent year over year to 18.282 million pounds in September. The increase was driven by 6,000 more head of cows and 27 pounds more milk per cow. Although cow numbers were up from a year ago, they fell 2,000 head from August and were down 8,000 head from…
The average dairy price index on the latest Global Dairy Trade Auction fell 4.6 percent to $3,723 per metric ton, marking the second decrease in a row and the biggest decline since August. Whole milk prices fell 4.4 percent, while skim milk powder prices were down 6.9 percent. Cheddar cheese prices were down 3.9 percent,…
Last year total per capita dairy product consumption reached its highest level since 1959, despite a record decline in consumption of fluid milk. The latest Economic Research Services data shows dairy consumption growing 12 pounds per person from the previous year to 667 pounds in 2021. That continues a 25-year continual increase in per capita…
