In years when the U.S. has high milk prices, it usually means exports do not perform as well as when there are low prices. When the U.S. experiences high prices, generally, other dairy exporting countries’ dairy product prices are lower and are more appealing to dairy importing countries. However, 2022 has proven to be different…
For the first time in the almost 4-year history of the Dairy Margin Coverage (DMC) program, premiums will not be covered by triggered indemnities by the time premiums are due. Language in the 2018 Farm Bill states that DMC premium balances are due to local Farm Service Agency (FSA) offices no later than September 1st…
For the first time this year and the first time since October 2021, U.S. milk production experienced a year-over-year (YOY) increase in June according to the latest Milk Production report released last week. Despite market conditions (record high milk prices) that generally cause a surge in milk production, U.S. output has been on the decline….
It is hard to believe that we are over halfway through another year already. Hopefully, you have been able to enjoy some ice cream during National Ice Cream Month. I thought it would be a good time to share some mid-year forecasts. Overall, milk and feed commodity markets have been very volatile this year. Read…
Class III and IV milk futures prices have been experiencing a slight decline on average for a couple months now. However, current futures prices as of July 12 show a sharper decline over the last couple of weeks compared to one month ago. On June 9, 12-month average Class III price was $23.41 per cwt…
have mentioned for several months now that despite historically high milk prices and increasing value of the dollar, U.S. dairy products have remained competitive on the international market because of a reduced supply of milk in other major milk producing countries. According to U.S. Dairy Export Council (USDEC) data, the U.S. has exported 756,796 metric…
U.S. milk production continued its year-over-year (YOY) decline in May based on the latest USDA Milk Production report released last week. Milk production per cow and cow numbers are both contributing to the total production decline. Heat stress is also beginning to be a factor with 90 to 100 plus degree days in the West…
There is still about one week of June Dairy month left, but thanks to President Ronald Reagan, dairy months aren’t over yet. In 1984, Senator Walter Huddleston of Kentucky and Representative Kika de la Garza of Texas introduced a joint resolution that proclaimed the month of July 1984 as “National Ice Cream Month” and July…
June 2022 marks the 86th year that the annual June Dairy Month has taken place. June Dairy Month has an interesting history. It was actually started by a group of retail stores in 1937 in an attempt to help promote and stabilize the market in what was then a time of peak milk production that…
At $27.10 per cwt, the U.S. all-milk price hit a record high in April for the second month in a row. This is $1.20 more than March’s U.S. all-milk price at $25.90 per cwt which had eclipsed the previous record of $25.70 set in September 2014. Suppressed milk production growth across the world is keeping…
