USDA released its World Agricultural Supply and Demand Estimates report, supporting the need for higher feed prices. The report projected increasing supplies with higher yields and reduced exports. With total U.S. corn supply rising and use declining, the report projected ending stocks up 250 million bushels from last year. The report projected the season average…
April’s Class III milk price was announced at $17.67 per hundredweight, up $1.52 from March and $4.60 above last April’s price. The Class IV price was announced at $15.42 per cwt., up $1.24 from April and $4.02 above a year ago. April’s Class IV price was the highest since February 2020. Read More
USDA’s Cold Storage report has total cheese inventories at 1.466 billion pounds as of March 31, up 30 million pounds from the end of February. This is twice the average five-year build up of 16.3 billion pounds which is typical for February to March. Butter inventories were unchanged at 354.6 million pounds, which is also…
Total milk production in the US increased 1.8 percent year over year to 19.75 billion pounds in March, with the nation’s dairy herd growing by 77,000 head since last March. Cow numbers are up 8,000 head in the past month to reach 9.468 million head nationwide. Milk production per cow was also up from a…
Total dairy export volumes increased 15 percent in February, with total export value increasing 7 percent year-over-year to $565.5 million. Total exports of nonfat dry milk and skim milk powder rose 31 percent, with volumes to Mexico up 30 percent. Cheese exports were also up, increasing 1.1 percent to 30,176 metric tons, marking the first …
USDA’s Dairy Product report indicates February’s butter production was the highest on record on an average-daily basis, up 2.2 percent from a year ago, when adjusted for Leap Year, to 185.6 million pounds. Production of both nonfat dry milk and skim milk powder jumped as well. With manufacturers producing a combined total of 215.9 million…
The dairy price index on the latest Global Dairy Trade auction on March 16 fell 3.8 percent to $4,089 per metric ton, marking the first decrease in the price since November 3, 2020. Steep declines in the whole milk powder price pulled down the average price, with whole milk powder prices falling 6.2 percent from…
US total milk production was up 2 percent year-over-year to 17.63 billion pounds in February, when adjusted for leap year. This marks the ninth consecutive month of increased milk production. The US dairy herd grew 9.458 million head in February, up 3,000 head from January, an increase of 81,000 head from a year ago, and…
The average dairy price on the latest Global Dairy Trade auction fell 3.8 percent, marking the first session-to-session decline since November 2020 and the largest decline since April 2020. Whole milk powder accounted for more than half the sales at this auction, with the whole milk price falling 6.2 percent. The butter price fell 2.8…
Butter production climbed 7 percent year over year to 207 million pounds in January, marking the largest January butter production ever. Cheese production was also strong, with total cheese production during the month topping 1.1 billion pounds, up 0.5 percent from a year ago and also a record for January. Cheddar cheese production increased 5.7…
