The latest USDA Livestock, Dairy and Poultry Outlook summarized the 2020 dairy situation by pointing to strong dairy export growth, a Class III price that exceeded the weighted-average Class I price in all but four months of the year, and dairy product stocks that built considerably during the year. On a milk-fat basis, ending dairy…
USDA’s World Agricultural Supply and Demand Estimates report released last week indicated that producer margins could remain tight through 2021. With exports projected to be higher this year, the corn farm price is expected to average $4.30 per bushel, up 74 cents from a year ago. Soybean export estimates were also increased, with ending stocks…
USDA announced the January Class III milk price at $16.04 per hundredweight, down $1.01 from a year ago but 31 cents above December’s. The Class IV price was announced at $13.75 per cwt., down $2.90 from a year ago but up 39 cents from December. Read More
US milk production was up 3.1 percent year-over-year in December to 18.94 billion pounds, with cow numbers up 100,000 head from a year ago and milk production per cow up 40 pounds. The US annual milk production in 2020 was up 2.1 percent from a year ago to 18.94 billion pounds, with milk production per…
The average dairy price index on the latest Global Dairy Trade auction jumped 4.8 percent to $3,593 per metric ton, marking the fifth consecutive session-to-session gain. Cheddar cheese was the only product to decline in price, down 0.3 percent. Butter prices were up 4.6 percent, while skim milk powder was up 7 percent and whole…
Feed prices jumped this week with the latest World Agricultural Supply and Demand Estimates report showing dramatically reduced supplies of both corn and beans. Corn production estimates were cut by 324 million bushels to 14.182 billion, with an average yield drop of 3.8 bushels per acre. Projected corn use was also cut by 250 million…
USDA announced the December 2020 Class III milk price at $15.72 per hundredweight, down $7.62 from November’s price and $3.64 below year ago levels. Class III prices averaged $18.16 per cwt. in 2020, up $1.20 from 2019’s average price. The December Class IV price was announced at $13.36 per cwt., up 6 cents from November…
Butter stocks fell 16 percent from October to 251.8 million pounds, up 39 percent from a year ago. The month-to- month drawdown was the smallest since 2012, indicating a build-up in butter stocks weighing on the markets. Cheese stocks grew 0.3 percent from October to 1.344 billion pounds, up 1.7 percent from a year ago….
Total US milk production climbed 3 percent year over year to 18 billion pounds in November, with production per cow up 2.3 percent or 43 pounds, marking the largest milk yield increase since 2016. The nation’s dairy herd also expanded, up 62,000 head from a year ago to 9.41 million head, 12,000 more than in…
The trend toward fuller fat dairy products accelerated in 2020, according to USDA data and a Daily Dairy Report article. Year to date, production of plain and flavored yogurt was up 2.9 percent over 2019. Year-to-date production of regular hard ice cream production was also up, increasing 3.3 percent to 635 million gallons. Butter production…
