Based on the most recent issue of the NMPF Dairy Market Report, yogurt and butter sales showed 6.5% and 1.5% annual growth in commercial use. Fluid milk sales also experienced a 1.1% increase year over year. However, total cheese and dry milk sales fell 0.8% and 11.2% over the same period, respectively.
Looking at the most recent 2024-2025 World Agricultural Supply and Demand Estimates projections, corn production remained at 14.87 million billion bushels. The USDA decreased expected feed use by 25 billion bushels and bumped up export projections by 100 million bushels. This resulted in ending stocks falling to 1.465 billion bushels, a significantly larger decline than…
In February, U.S. Dairy Export Council (USDEC) reported that total US dairy export volumes were down 5% or 9,587 metric tons to 174,175 metric tons. Nonfat dry milk (NFMD) and skim milk powder shipments dropped 26% from February 2024’s levels as U.S. powder prices surpassed February’s global prices. However butterfat and cheese, which are higher…
The USDA announced February 2025’s margin at $13.12 per hundredweight (cwt). While there was a 73-cent drop from January’s $13.85 per cwt, the margin is still $3.62 above the $9.50 trigger. This means indemnities were not paid out at any coverage level. February marks the second consecutive month for the program year 2025 that dairy…
Based on the USDA Milk Production report for February, U.S. milk production experienced a 2.5% dip from February 2024’s total to 17.7 billion pounds. However, with 2024 being a leap year, comparing February’s daily production presents a clearer picture. Year over year, U.S. daily production was up from February 2024’s 627 million pounds to 2025’s…
In the wake of a soft fourth quarter in 2024, U.S. dairy exports kicked off the new year positively in January, up 0.5% year over year. Conversely, fluid milk sales dropped 0.5% from January 2024’s numbers on the heels of 2024 seeing the first annual gain since 2009. While domestic use for most dairy products…
The USDA announced February’s Class III and Class IV prices. Class III dropped 16 cents per hundredweight (cwt) from January’s $20.34 to $20.18. Looking ahead, Class III futures are trending down with March 2025 currently at $18.49 per cwt, a 37 cent increase from last week’s settlement of $18.12. Right now, Class III futures are…
Based on the USDA Cold Storage report, January 2025’s total natural cheese stocks came in at 1.42 billion pounds, reflecting a 2% increase month over month and 6% decrease year over year. American-type cheese stocks were at 762 million pounds, up 1% from the prior month but also down 7% from January 2024. Italian-type cheese…
Based on the most recent USDA Milk Production report, the U.S. milk supply dropped 0.2% from 2023’s 226.3 to 225.9 billion pounds for 2024. Milk production peaked in March 2024 and totaled 19.7 billion pounds. Production reached its lowest for 2024 in November at 18.0 billion pounds.
Mexico and Canada reached an agreement with the U.S. for a 30-day reprieve from the current administration’s tariffs. While Mexico did not list nonfat dry milk (NFDM) as a potential target for retaliatory tariffs, trade-related tensions have slowed commerce across the border. Domestic buyers are wary of purchasing milk powder with the looming threat tariffs…
