Wholesale dairy product prices and milk price forecasts have been lowered substantially from last month’s forecasts in USDA’s latest Livestock, Dairy and Poultry Outlook report. The all-milk price forecast is $14.35 per hundredweight, a reduction of $3.90 from the previous forecast. Dairy product demand is expected to be much lower due to the COVID19 pandemic….
Prior to COVID-19 becoming a worldwide pandemic, February marked six straight months of growth in dairy exports. US suppliers shipped 170,556 tons of dairy product overseas, up 3 percent from a year earlier. The total value of those exports was up 9 percent to $529 million. On a total milk solids basis, US exports were…
The USDA Cold Storage Report showed higher stocks of butter at the end of February, with 302.2 million pounds in cold storage, the highest total for the month since 1993 and 55 million more than at the end of January. The month-to-month build-up was the largest for January to February since 1992. Cheese stocks were…
Total US milk production was up 1.7 percent year-over-year to 17.87 billion pounds in February, when adjusted for leap year, according to the USDA Milk Production Report. The nation’s dairy herd totaled 9.37 million head at the end of February, up 9,000 head from January and 18,000 head higher than a year ago. Milk production…
Milk future prices fell dramatically this week, with the April Class III milk ice dipping below $16 per hundredweight and the average Class III milk price now at $16.23 per cwt. Class IV milk prices for the next six months now average $15.57 per cwt. Class III futures prices for the next six months have…
Total cheese stocks were at 1.35 billion pounds as of Jan. 31, up 2 percent from last month but down 1.2 percent from a year ago. Cheese stocks were at their second highest level in January on record, with the December-to- January build-up the largest in 20 years. Butter stocks grew dramatically in January to…
Milk production was up 0.9 percent year-over-year to 18.785 billion pounds in January 2020, with 6,000 fewer cows in the nation’s dairy herd. Milk production per cow for the month increased 20 pounds, or about 1 percent, year-over-year to 2,010 pounds. Milk production per cow was up 2.2 percent from December 2019, with 5,000 more…
The average dairy price index fell 2.9 percent to $3,176 per metric ton on the latest Global Dairy Trade auction. This is the second straight session decline. The Cheddar cheese price was up 5.3 percent from the last auction, while both skim milk and whole milk powder prices fell 2.6 percent. Butter prices were down…
The average dairy price index fell 4.7 percent to $3,226 per metric ton on the latest Global Dairy Trade auction. The decline came after two straight increases in January. The Cheddar cheese price was still up 6 percent from the last auction, while butter was up 0.2 percent. Skim milk powder prices fell 4.2 percent,…
USDA announced the January Class III milk price at $17.05 per hundredweight, down $2.32 from December but up $3.09 from a year ago. The Class IV price was $16.65 per cwt., down 5 cents from December but up $1.17 from January 2019. Read More