Based on the May 2025-2026 World Agricultural Supply and Demand Estimates (WASDE) report, economists project corn yields to reach 181 bushels (bu.) per acre (ac.), the highest yield in 12 years. Planted corn acres are forecasted to be 95.3 million, which if realized would be a record high for the decade. With projected yield and…
For the Dairy Margin Coverage program, the USDA announced March’s margin at $11.55 per hundredweight (cwt). While the margin narrowed by $1.57 per cwt from the prior month’s $13.12 per cwt, March’s margin was still $2.05 per cwt over the $9.50 trigger. The result was no indemnities being paid out at any coverage level for…
Based on Eurostat’s estimates as of December 2024, Europe’s milk cow numbers totaled 19.23 million head, down 687,000 head year over year and the lowest numbers seen in decades. Germany and France reported fewer milk cows from 2023 to 2024, down 123,000 head and 91,000 head, respectively. Following a large expansion in 2023, Poland experienced…
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…
