Fluid milk sales have been up and down in 2020, according to USDA’s Estimated Fluid Milk Products Sales report. Fluid milk sales were their highest in March, up 8.3 percent from the year earlier, also posting gains over a year ago in June and July. However, Class I utilization fell hard in August, September and…
The Daily Dairy Report recently reported statistics that point to a recovering economy. Third quarter gross domestic product (GDP) grew 33.1% from the dismal second quarter but not quite back to pre-COVID19 levels. Unemployment has dropped from April’s record high of 14.7% to 6.9% in October. Food service sales have also improved dramatically from April’s…
US total milk production was up 2.3 percent year-over-year to 18.6 billion pounds in October, with 37 more pounds milk per cow and 43,000 more head in the nation’s dairy herd. Cow numbers jumped 14,000 head from September. California’s milk production was up 1.2 percent, while Wisconsin grew by 1.7 percent. Idaho boasted a 2.7…
Class III milk futures prices on the CME fell hard this week, with concerns about another pandemic-related shutdown weighing heavily on the industry. Class IV milk price futures held steady but remained low. The average Class III price for the next 12 months (not including November) fell 35 cents from a week ago to $16.64…
This month’s USDA’s World Agricultural Supply and Demand Estimates report estimated the 2020-21 corn crop at 14.507 billion bushels, down 215 million from last month’s estimates. Average yields were reduced by 2.6 bushels to 175.8 bushels per acre, while corn exports are expected to reach an all-time high of 2.65 million bushels. The combined effect…
US dairy export volumes, on a total milk solids basis, grew 17 percent year-over-year to 190,435 tons of milk powder, cheese, whey products, lactose and butterfat in August, with year-to-date volumes up 16 percent from a year ago. August’s volumes were a record high for the month, while the value of dairy exports was up…
According to the USDA Cold Storage Report, total cheese stocks fell 1.3 percent month-over-month to 1.36 billion pounds as of September 30. Stocks are now just below where they were a year ago, posting the first year-over-year decline since March. Butter stocks were also down, falling 7.4 percent month-over-month to 343.9 million pounds, still 18.3…
US milk production was up 2.35 percent year over year to 18 billion pounds in September, outpacing last year’s production by 400 million pounds. The total US milking herd is 9.366 million cows, up 33,000 head from a year ago and up 5,000 from August. All top eight dairy producing states boasted increases this month,…
USDA’s latest Crop Production Report is supporting the higher feed costs that producers are now experiencing. USDA trimmed yield estimates for both corn and soybeans, dropping the average corn yield from 178.5 bushels per acre estimated in September to 178.4 bushels per acre expected today. Soybean yields were estimated at 51.9 bushels per acre. The…
USDA announced the September Class III milk price at $16.43 per hundredweight, down $3.34 from last month and $1.97 per hundredweight below a year ago. The September Class IV milk price was announced at $12.75 per hundredweight, up 22 cents from August but down $3.60 from a year ago. Read More
