March 9, 2022: Dairy Week In Review

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…

March 2, 2022: Dairy Week In Review

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…

February 24, 2022: Dairy Week in Review

Total milk production in the US fell 1.6 percent from a year ago to 19.05 billion pounds in January 2022, with 82,000 head fewer cows in the nation’s dairy herd than a year ago, according to the  latest USDA Milk Production Report. Cow numbers fell 5,000 head from December. Milk production per cow also fell…

February 16, 2022: Dairy Week In Review

The March Base Class I milk price was announced at $22.88 per cwt, up $1.24 from February and $7.68 above a year ago. It is the highest Class I milk price since December 2014. The latest USDA Dairy Products Report shows total cheese output at 1.16 billion pounds in December 2021, up 0.1 percent from…

February 9, 2022: Dairy Week In Review

Strong global demand and tight supply helped drive U.S. dairy exports to a second consecutive volume  record in 2021 and a new all-time high in value. U.S. export volume last year increased 10% over 2020 to more than 2.3 million metric tons (MT) milk solid equivalent. The value of dairy exports rose 18% to  $7.75…

February 2, 2022: Dairy Week In Review

The December 2021 Dairy Margin Coverage (DMC) margin was announced earlier this week. For the first time in 13 months, the price eclipsed the maximum $9.50 margin coverage, but just  barely. The DMC margin was announced as $9.53 per cwt. A $1.00 per cwt increase in the all-milk price overwhelmed a 61 cents per cwt…

January 26, 2022: Dairy Week In Review

US total milk production was down 0.1 percent to 18.825 billion pounds in December, with 67,000 fewer head in the nation’s dairy herd from a year ago, down 7,000 head from last month. Milk  production per cow across the nation was actually up 11 pounds or 0.7 percent for the month, according to the latest…

January 19, 2022: Dairy Week In Review

The average dairy price index on the latest Global Dairy Trade session was up 4.6 percent to $4,463 per metric ton, its highest level since March 2014. Whole milk powder and skim milk powder  both posted large gains, up 5.6 percent and 5 percent, respectively, in price. Butter prices were up 5 percent, while skim…

January 12, 2022: Dairy Week In Review

Global milk supplies are declining. Milk output among major dairy exporters fell from a year ago in both September and October, and it is expected to continue the downward trend in November.  So far, November milk production fell 0.4 percent in the US, 1.5 percent in New Zealand, and 0.8 percent in Australia. While not…

January 5, 2022: Dairy Week In Review

According to the latest USDA Ag Prices report, Dairy Margin Coverage (DMC) margins have improved month-over-month for the third time in a row. The U.S. all-milk price increased by a $1.10  per hundredweight (cwt) to $20.80. The rise in milk price offset an increase in the DMC feed cost to improve the November margin. Corn…