USDA released its World Agricultural Supply and Demand Estimates report, projecting milk production to be lower in 2021 and 2022 with lower cow numbers and slower growth in production per cow. Both Class III and Class IV milk price estimates were raised, with expectations for higher cheese, whey and butter prices. The 2021 all milk…
November’s Class III milk price was announced at $18.03 per hundredweight, up 20 cents from October and the second highest price of the year. November’s Class IV price topped the Class III price at $18.79 per cwt., up $1.75 from October’s high, making it the highest price of the year so far. Class III prices…
USDA released its Ag Prices report, showing that the All-Milk price increased $1.30 from last month to $19.70 per hundredweight in October, the highest price so far in 2021 but still 30 cents lower than October 2020. Corn prices fell 43 cents from September to $5.02 per bushel, still $1.41 higher than a year ago….
Total milk production in the US fell a half percent from a year ago to 18.515 billion pounds, with cow numbers down 14,000 head from a year ago while milk production per cow was down 6 pounds for the month. The nation’s dairy herd has decreased by 100,000 head since June, when it reached its…
The average dairy price index on the latest Global Dairy Trade auction is up 1.9 percent to $4,287 per metric ton. All major dairy products posted increases in prices, with butter up 3.5 percent, Cheddar cheese up 2.2 percent, skim milk powder up 1.4 percent, and whole milk powder prices up 1.9 percent. This is…
US dairy export volumes were up 16 percent to 186,020 metric tons in September, marking the ninth consecutive month in a row. Dairy export volumes are also increasing up nearly 28 percent from a year ago to $655 million. If growth continues through the end of the year, 2021 will outpace the record value of…
The USDA updated August milk production and cow number data showing a larger shrinkage in cow numbers that led to even slower growth in milk production compared to what was originally reported last month. After reporting an August herd size of 9.480 million head in September’s Milk Production report, the USDA revised that down 33,000…
Total cheese output, excluding cottage cheese, was up 4.4 percent from a year ago to 1.14 billion pounds in August, down 0.3 percent from July. American type cheeses were up 1.5 percent from last year while Italian type cheese production was up 8.8 percent. Butter production was down, falling 1.7 percent from a year ago…
USDA raised forecasts for both corn and soybean production estimates in its latest World Agricultural Supply and Demand Estimates (WASDE) report. The total estimated corn harvest was increased by 23 million bushels from September’s forecast to 15.019 billion bushels. In contrast, industry grain analysts were calling for a 23 billion bushel reduction. USDA raised corn…
USDA announced the September Class III milk price at $16.53 per hundredweight, up 58 cents from August and up 10 cents from last September’s price. The Class IV price was announced at $16.36 per cwt, up 44 cents from August and $3.61 above year-ago levels. Futures prices on the CME rebounded somewhat this week, with…
