October 13, 2021: Dairy Week In Review

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…

October 6, 2021: Dairy Week In Review

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…

September 28, 2021: Dairy Week In Review

The dairy price index on the latest Global Dairy Trade auction increased 1 percent to $4,011 per metric ton, with a 2.2 percent and 0.9 percent increase in whole milk powder and skim milk  powder, respectively, driving the overall increase. This is the third session-to-session increase in a row. Prices for both butter and cheese…

September 22, 2021: Dairy Week In Review

Total milk production in US in August is up 1.1 percent from a year ago to 18.8 billion pounds. The nation’s dairy herd is up 106,000 head from last year to 9.48 million head in August, while  production per cow was down 1 pound from a year ago to 1,987 pounds for the month. Cow…

September 15, 2021: Dairy Week In Review

USDA released its World Agricultural Supply and Demand Estimates report, increasing its corn production estimate from a month ago by 246 million bushels to 15 billion bushels and the  projected yield by 1.7 bushels to 176.3 bushels per acre. USDA also increased expected harvested acres of corn by 600,000 to 85.1 million acres. On the…

September 8, 2021: Dairy Week In Review

The Global Dairy Trade dairy price index jumped 4 percent to $3,927 per metric ton during the latest session, after more the ten sessions of staying flat or decreasing. The increase was driven by  increases in all products, with skim milk powder prices showing the greatest increase, up 7.3 percent from last session. Butter prices…

September 1, 2021: Dairy Week In Review

USDA announced the Class III and Class IV milk prices for August, with the basis between the two now at its closest in the past two years. The August Class III price was announced at $15.95 per  cwt., down 54 cents from July, down $3.82 from a year ago, and the second lowest Class III…

August 18, 2021: Dairy Week In Review

Milk production in the European Union and the United Kingdom totaled nearly 14 million metric tons, just below 31 billion pounds, according to preliminary data from Eurostate. European milk  collections were 0.8 percent higher than a year ago and up 1.8 percent from May. USDA estimates the European milk cow herd will average 22.4 million…

August 10, 2021: Dairy Week In Review

US dairy exports set a new record in June, up 5.7 percent from a year ago to 199,383 metric tons of milk solids sold overseas. The total export value was also up, increasing 14.7 percent to $670  million. Butterfat volumes exported grew by nearly 65 percent, while whey products also boasted significant increases. Cheese exports…

August 4, 2021: Dairy Week In Review

Feed costs are up nearly $2 per hundredweight since the beginning of the year, according to the latest USDA Ag Prices report. Corn prices were up $1.76 per bushel, while alfalfa hay was up $26  per ton. Soybean prices fell back from May and are down $61.06 from January. The all-milk price was announced at…