July 27, 2022: Dairy Week In Review

Total milk production in the US increased 0.17 percent year-over-year to 18.975 billion pounds in June, according to the latest USDA Milk Production report. This was the first year-over-year increase since  October 2021 and was driven by a 1 percent gain in milk production per cow, up 20 pounds to 2,014, the  largest gain in…

July 20, 2022: Dairy Week In Review

The latest USDA Livestock Slaughter report shows fewer dairy cows headed to market in 2022 than in 2021, despite higher beef prices. From January through May, 38,000 fewer dairy cows were  sent to slaughter, down about 3 percent from a year ago. That declining trend reversed in May, though, with dairy cow slaughter up 1,800…

July 13, 2022: Dairy Week In Review

More than 579.2 million pounds of dairy products moved overseas in May, marking the largest monthly export volume ever and an increase of 4.8 percent year over year. During the first five  months of 2022, nearly 2.6 billion pounds of dairy moved overseas, up 1.3 percent from a year ago, according to the latest report….

July 6, 2022: Dairy Week In Review

USDA announced the May Dairy Margin Coverage (DMC) margin at$12.51 per hundredweight (cwt), a  record high. This eclipsed the previous record originally set in July 2020 and April 2022 by 22 cents per  cwt and is $5.84 more than a year ago. May became the sixth straight month not to trigger an indemnity  at any…

June 29, 2022: Dairy Week In Review

With a tight milk supply in the EU and New Zealand, U.S. dairy product prices remain competitive despite the increasing value of the U.S. dollar compared to other international currencies. April  dairy exports set a month of April record at 213,193 metric tons (MT) of milk solids equivalent dairy products. April was also the first…

June 22, 2022: Dairy Week In Review

US total milk production continues to be down year over year, falling 0.7 percent to 19.7 billion pounds in May. Milk production per cow was up 8 pounds to an average of 2,096 pounds. The  nation’s dairy herd was at 9.41 million head, 102,000 head less than May 2021, but 2,000 head more than April…

June 15, 2022: Dairy Week In Review

USDA’s Ag Supply and Demand Estimates report didn’t bring any relief for higher feed costs. USDA now estimates that 1.485 billion bushels of corn will remain in storage at the end of this  growing season, up from last year’s ending stocks and bigger than trade expectations. Still, the higher stocks didn’t bring any relief to…

June 8, 2022: Dairy Week In Review

USDA announced the May Class III price at $25.21 per hundredweight, up 79 cents from April and $6.25 above a year-ago levels. May’s Class III price was the highest so far this year and was the  first month that the Class III price was higher than the Class IV price. May’s Class IV price was…

June 1, 2022: Dairy Week In Review

The April all-milk price was announced at $27.10 per cwt., up $1.20 from March and $8.70 above last April’s price. It was the highest all-milk price announced since the USDA Dairy Margin  Program was established in 2019. Feed costs were also higher this month, with the corn price at $7.08 per bushel, up 52 cents…

May 25, 2022: Dairy Week In Review

Both total cheese stocks and butter stocks were up from a month ago in April, according to the latest USDA Cold Storage Report. Total natural cheese stocks on April 30 were 1.4807 billion  pounds, up 1 percent from March and 2 percent from a year ago. Total cheese stocks set a new record high for…