July 6, 2022: Dairy Week In Review

USDA announced the May Dairy Margin Coverage (DMC) margin at$12.51 per hundredweight (cwt), a  record high. This eclipsed the previous record originally set in July 2020 and April 2022 by 22 cents per  cwt and is $5.84 more than a year ago. May became the sixth straight month not to trigger an indemnity  at any…

June 29, 2022: Dairy Week In Review

With a tight milk supply in the EU and New Zealand, U.S. dairy product prices remain competitive despite the increasing value of the U.S. dollar compared to other international currencies. April  dairy exports set a month of April record at 213,193 metric tons (MT) of milk solids equivalent dairy products. April was also the first…

June 22, 2022: Dairy Week In Review

US total milk production continues to be down year over year, falling 0.7 percent to 19.7 billion pounds in May. Milk production per cow was up 8 pounds to an average of 2,096 pounds. The  nation’s dairy herd was at 9.41 million head, 102,000 head less than May 2021, but 2,000 head more than April…

June 15, 2022: Dairy Week In Review

USDA’s Ag Supply and Demand Estimates report didn’t bring any relief for higher feed costs. USDA now estimates that 1.485 billion bushels of corn will remain in storage at the end of this  growing season, up from last year’s ending stocks and bigger than trade expectations. Still, the higher stocks didn’t bring any relief to…

June 8, 2022: Dairy Week In Review

USDA announced the May Class III price at $25.21 per hundredweight, up 79 cents from April and $6.25 above a year-ago levels. May’s Class III price was the highest so far this year and was the  first month that the Class III price was higher than the Class IV price. May’s Class IV price was…

June 1, 2022: Dairy Week In Review

The April all-milk price was announced at $27.10 per cwt., up $1.20 from March and $8.70 above last April’s price. It was the highest all-milk price announced since the USDA Dairy Margin  Program was established in 2019. Feed costs were also higher this month, with the corn price at $7.08 per bushel, up 52 cents…

May 25, 2022: Dairy Week In Review

Both total cheese stocks and butter stocks were up from a month ago in April, according to the latest USDA Cold Storage Report. Total natural cheese stocks on April 30 were 1.4807 billion  pounds, up 1 percent from March and 2 percent from a year ago. Total cheese stocks set a new record high for…

May 18, 2022: Dairy Week In Review

US milk production is down 1 percent from a year ago to 19.15 million pounds, with 98,000 fewer cows. Milk production per cow was flat from a year ago. California’s milk production was down  0.6 percent, while Wisconsin’s was down 0.1 percent. Idaho was flat from a year ago, while New York was down 0.8…

May 11, 2022: Dairy Week In Review

According to the USDA Crop Progress Report, spring planting of corn and soybeans is well behind last year and the five-year average (2017 – 2021). The top 18 states in corn production only have  22 percent, on average, of the 2021 acreage planted. This is well behind 2021’s level, which was 64 percent at this…

May 4, 2022: Dairy Week In Review

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…