USDA’s Crop Progress report shows about 80 percent of Pennsylvania’s corn crop is in the ground, as of May 31. This is up from 1 percent from the five-year average and 8 percent ahead of last year. About 91 percent of the crop is in the good to excellent “crop condition” category. Nationally, 93 percent…
April milk production in the US was up 1.4 percent to 18.7 billion pounds, with 18 pounds more milk per cow and 49,000 more head. However, cow numbers did fall 4,000 head from March to April, after peaking at 9.385 million head. Milk production per cow also fell from March to April, on a daily…
After falling to 20-year lows in late April and early May, Class III and Class IV milk futures prices have been increasing on the CME, driven by increases in prices for butter and cheese. As of May 19, Class III prices for the next 12 months averaged $16.02 per cwt., up from an average of…
Recent IRI data showed retail sales of dairy products have increased since COVID-19 restrictions across the country were put into place. Fluid milk sales, which have been in a decades-long decline, were up 15 percent and 11 percent, respectively, year-over-year in March and April. Cheese, butter, and ice cream have also seen tremendous growth versus…
According to the latest USDA Cold Storage report, butter stocks were up 7.7 million pounds from Feb. 29 to 309.6 million pounds on March 31, the largest amount for March since 1993 and up 15 percent from a year ago. However, the month-to-month build was not as large as expected and less than what is…
According to the latest USDA Cold Storage report, butter stocks were up 7.7 million pounds from Feb. 29 to 309.6 million pounds on March 31, the largest amount for March since 1993 and up 15 percent from a year ago. However, the month-to-month build was not as large as expected and less than what is…
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…
