The March Dairy Margin Coverage (DMC) margin was announced as $11.55 per hundredweight. This is a 57 cents per cwt improvement from February and becomes the fourth straight month not to trigger an indemnity at any margin coverage. Feed costs continued to increase relative to February, but milk price increased enough to offset rising feed…
According to the latest USDA Cold Storage report, natural cheese stocks were down 0.7 percent from a year ago to 1.458 billion pounds in March, down 0.6 percent from February, marking the first time since 2011 that stocks fell from February to March. Still, this was the second largest March inventory ever reported. American cheese…
Total milk production in the US was down 0.5 percent to 18.812 billion pounds in March, with 68,000 fewer head of dairy cows and 7 pounds more milk per cow per day. While milk production was still below last year’s levels, the gap did narrow in March from the 1.5-percent peak in January. Of the…
Recent data released by the USDA’s Economic Research Service shows US farm profitability increasing 25 percent in 2021 to an estimated $119.1 billion, with higher cash receipts in 2021 offsetting the high government payments received in 2020. Farm profitability levels, or net farm income, is expected to decline 4.5 percent in 2022 due to increased…
USDA’s Ag Prices report put the February All-Milk price at $24.70 per cwt., up 50 cents from January and $7.60 above year-ago levels. However, it was not enough to offset the increase in feed prices, with the corn price up 53 cents from last month to $6.10 per bushel and the soybean price up $59.75…
USDA announced the March Class III milk price at $22.45 per cwt., up $1.54 from February and $6.30 above a year-ago prices. The Class IV milk price was announced at $24.82 per cwt., up 82 cents from February and $10.64 above last March. Markets softened a little this week, but remain at multi-year highs. Class…
Total milk production in the US was down for the second month in a row in February, falling 1 percent from a year ago to 17.5 billion pounds. Production per cow was up 1 pound from a month ago to 1,869 pounds for the month. The nation’s dairy herd continues to shrink, falling 96,000 head…
US cheese and butter exports were up from a year ago in January, while powder exports were down. Cheese exports totaled 64.9 million pounds for the month, up 16.7 percent from a year ago and the highest January volume since 2014. Butter and milkfat exports were up 53.1 percent to 4,906 metric tons. US exports…
USDA announced the February Class III price at $20.91 per cwt., up 53 cents from January and up $5.16 from a year ago. The February Class IV price was announced at $24 per cwt., up 91 cents from January and $10.25 per cwt. from a year ago. Class III futures prices on the CME average…
The average dairy price index on the latest Global Dairy Trade auction increased 5.1 percent to $5,065 per metric ton, marking the fourth consecutive session of significant growth and its largest increase this year. All products posted gains in price, with Cheddar cheese up 10.9 percent. Butter was up 5.9 percent, while whole milk and…
