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…
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…
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…
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…
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…
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….
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…
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…
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…
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…
