According to the U.S. Dairy Export Council (USDEC) and USDA data, the U.S. exported a total volume of 2.402 million metric tons (MT) during 2022, an increase of 119,022 MT (+5%) compared to 2021. This makes 2022 the third consecutive year for record total volume. With higher-than-normal dairy product prices through 2022, the previous value…
USDA announced the January 2023 Class III milk price at $19.43 per cwt., down $1.07 from December and 95 cents under year-ago levels. The Class IV price was announced at $20.01 per cwt., down $2.11 from December and $3.08 below last January. Milk futures show more erosion in the milk price, with Class III futures…
New Zealand’s milk production fell 0.6 percent in December, down to just over 5.7 billion pounds, according to the Dairy Companies Association of New Zealand. For the 2022-23 season, Kiwi milk production is down 2.7 percent from last year, season-to-date. Milk solids were up 0.6 percent in December. Read More
US total milk production was up 0.8 percent year-over-year to 18.934 billion pounds in December, according to USDA’s Milk Production report. Cow numbers in the nation’s dairy herd were up 27,000 head from a year ago but down 8,000 head from November to 9.4 million cows. Milk production per cow was up 9 pounds from…
A total of 312.1 million acres of principal crops were planted across the U.S. during 2022, according to the latest USDA Crop Production Annual Summary. There are 22 different crops that make up what the USDA calls principal crops. They cover a wide range of crops including what I already mentioned and other crops such…
Dairy exports were up 8.7 percent year over year in November to 520.7 million pounds moving overseas, a record volume for November. Year to date overseas shipments are up 5 percent in volume with only one month left of data, poised to set a record in 2022. For the first 11 months of 2022, $8.78…
In its Dairy World Markets and Trade report, USDA estimates that collective milk production among the top-five global exporters (Argentina, Australia, the European Union, New Zealand, and the United States) will decrease by 0.7 percent in 2022. USDA expects production to stabilize next year, with year-over-year combined output among the combined exporters virtually unchanged from…
USDA’s Cold Storage Report shows butter stocks down 40 million pounds from October to just below 199.7 million pounds, marking only the second time since 2020 that inventories fell below the 200-million-pound mark. However, butter inventories were down only 4.1 percent from a year ago, the smallest year-over-year decrease since August 2021. Cheese stocks were…
Milk production across the U.S. increased year-over-year (YOY) by 1.3 percent, driven by both increased cow numbers and production efficiency. Milk production totaled 18.766 billion pounds. The national herd size increased by 38,000 (+0.4%) to 9.420 million head, while production per cow increased by 17 pounds (+0.9%) to 1,937 pounds per cow. The average lactating…
USDA increased its projection for ending corn stocks, with exports lowered by 75 million bushels due to increasing competition. With no other changes, corn ending stocks were lowered by 75 billion bushels. The season-average corn price was lowered by 10 cents to $6.70 per bushels. Soybean ending stocks were also increased due to lower exports….
