September 27, 2023: Dairy Week in Review

According to the latest USDA Cold Storage report, butter inventories are down 40.3 million pounds form July to August, or 12 percent, to 289.1 million pounds at the end of August. This is the largest August decline in inventories since 2015. Butter stocks were still up 4 percent from a year ago. Total cheese inventories were down slightly from a month ago but up 1 percent from a year ago to 1.489 billion pounds. American-style cheeses were up 1 percent from both last month and the previous year, while other type cheeses were flat from a year ago but down 2 percent from last month. The 3.5 million pound drop in total cheese stocks from July to August is well below historical trends, with cheese stocks typically dropping 25 million pounds between the two summer months.

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