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…
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…
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…
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…
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…
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…
