USDA announced the February Class III milk price at $16.68 per hundredweight, up 91 cents from January but down $1.70 from a year ago. The February Class IV price was announced at $19.85 per cwt., up 46 cents from January and 99 cents above last February’s price. Looking ahead, Class III futures prices average $16.56…
Cheese and butter inventories were both from a year ago in January. In the latest USDA Cold Storage report, total cheese stocks as of Jan. 31 were at 1.45 billion pounds, up 0.5 percent from a year ago but down 0.8 percent from last month. Inventories of American-style cheeses were down slightly from a month…
Total milk production in the US was down 1.1 percent year over year to 19.09 billion pounds in January. Last month’s milk production, however, was up about 1.3 percent from December 2023. The nation’s milk production has fallen year over year in six out of the last seven months. Cow numbers in the nation’s herd…
The latest data shows that US total annual dairy export volumes were down 7 percent in 2023 to 2.240 million metric tons in milk solid equivalents. US Dairy Export Council attributed the decline to a soft demand and increased competition from other dairy exporters. The total dollar value of dairy exports was down 16 percent…
The latest USDA numbers show total cattle inventories dropping another 2 percent in 2023 to 87.2 million head of cattle and calves on U.S. farms as of Jan. 1, 2024. As lingering drought continues to affect key beef regions in the US, the number of beef cows are down to 28.2 million head nationwide, also…
In the latest USDA Cold Storage report, year-end cheese stocks were at 1.443 billion pounds, up 5.9 million pounds from November but down 0.2 percent from a year ago. American-style cheese inventories, including Cheddar, were up 1.5 percent from a year ago to 837.8 million pounds, while other type cheese inventories were down 2.1 percent…
Total milk production in the US was down 0.3 percent from a year ago to 18.843 billion pounds in December, with total cow numbers falling 39,000 head year over year to 9.357 million. Cow numbers in the nation’s dairy herd are now at their lowest level since June 2020. Milk production per cow was up…
USDA released its monthly World Agricultural Supply and Demand Estimates report, increasing corn yields dramatically to a record high of 177.3 bushels per acre, up from last month’s estimate of 174.9 bushel per acre. USDA decreased total acreage estimates but still reported the largest ever harvest for 2023 at 15.23 billion bushels. Domestic corn demand…
USDA also released its latest Dairy Products Report earlier this week. Total cheese production is up 0.7 percent from a year ago to 1.16 billion pounds, which is down 2.6 percent or about 30 million pounds, from October. American type cheese production was up 0.7 percent from a year ago but down 0.2 percent from…
USDA announced the November margin under the Dairy Margin Coverage Program at $9.58 per cwt, the highest margin posted this year and up 14 cents from October’s levels. The margin is just 8 cents above the $9.50 maximum threshold, so no indemnity payment will be provided for this month. Feed costs were down 4 cents…
