USDA released its monthly World Agricultural Supply and Demand Estimates report, increasing corn yields dramatically to a record high of 177.3 bushels per acre, up from last month’s estimate of 174.9 bushel per acre. USDA decreased total acreage estimates but still reported the largest ever harvest for 2023 at 15.23 billion bushels. Domestic corn demand…
USDA also released its latest Dairy Products Report earlier this week. Total cheese production is up 0.7 percent from a year ago to 1.16 billion pounds, which is down 2.6 percent or about 30 million pounds, from October. American type cheese production was up 0.7 percent from a year ago but down 0.2 percent from…
USDA announced the November margin under the Dairy Margin Coverage Program at $9.58 per cwt, the highest margin posted this year and up 14 cents from October’s levels. The margin is just 8 cents above the $9.50 maximum threshold, so no indemnity payment will be provided for this month. Feed costs were down 4 cents…
Total milk production across the US was down 0.6 percent in November, according to the latest USDA Milk Production Report, falling to 18.08 billion pounds. Total cow numbers fell 44,000 head, or about 0.5 percent, to 9.36 million head, down another 10,000 head from October’s revised number. Milk production per cow in the US was…
Total US dairy exports shipped overseas was down 6.6 percent on a milk solids basis in October, which is the smallest year over year decline since March. Year over year cheese exports were down 4 percent in October, with shipments into Japan and Korea down 40 percent year over year. Cheese shipments into Mexico were…
USDA announced the October margin under the Dairy Margin Coverage Program at $9.44 per hundredweight, just six cents under the maximum $9.50 margin coverage level. It’s up 10 cents from September’s margin and the highest this year. It is still $1.27 below margins from a year ago and will result in an indemnity payment of…
In USDA’s latest Cold Storage Report, butter stocks fell 11 percent from September and 1 percent from a year ago to 238.28 million pounds. September butter stocks were also revised to their lowest level for any September since 2017. Cheese stocks also declined seasonally in October, falling 1 percent from September but up 1 percent…
According to the latest USDA Milk Production report, US milk production is down for the fourth month in a row after six months of growth. October’s milk production was down 0.5 percent to 18.71 billion pounds, with a 1-pound decrease in milk production per cow for the month and 42,000 fewer milking cows in the…
The latest USDA World Agricultural Supply and Demand Estimates report could point to more manageable feed costs in the coming year. The report released last week increased the national average yield for corn by 1.9 bushels to 174.9 bu/acre, which was enough to increase the projected US corn production to a new record high of…
USDA Dairy Products report shows output of most dairy products growing in September, compared to a year ago levels. Cheese production was up 0.1 percent year over year to 1.152 billion pounds, while production of American-type cheese was up 4.2 percent and Cheddar cheese production was up 3.1 percent. After decreasing in August, September’s butter…
