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…
Based on the USDA Cold Storage report, January 2025’s total natural cheese stocks came in at 1.42 billion pounds, reflecting a 2% increase month over month and 6% decrease year over year. American-type cheese stocks were at 762 million pounds, up 1% from the prior month but also down 7% from January 2024. Italian-type cheese…
Based on the most recent USDA Milk Production report, the U.S. milk supply dropped 0.2% from 2023’s 226.3 to 225.9 billion pounds for 2024. Milk production peaked in March 2024 and totaled 19.7 billion pounds. Production reached its lowest for 2024 in November at 18.0 billion pounds.
Mexico and Canada reached an agreement with the U.S. for a 30-day reprieve from the current administration’s tariffs. While Mexico did not list nonfat dry milk (NFDM) as a potential target for retaliatory tariffs, trade-related tensions have slowed commerce across the border. Domestic buyers are wary of purchasing milk powder with the looming threat tariffs…
Based on the December 2024 USDA Dairy Products report, total cheese output dropped 0.7% year over year and increased 4.0% month over month. Italian type cheese production reached 523 million pounds, up 3.1% from December 2023’s levels and 5.9% from November 2024’s total. From December 2023 to 2024, American cheese output decreased 3.9%, but rose…
Based on the USDA Cattle Inventory report, all dairy heifers (500 lbs and over) dropped from 3.951 million to 3.914 million head, a 1% drop. Beef heifer numbers followed suit with a 1% dip year over year. With replacement heifer inventories tight across the board, high cattle prices could continue.
Based on the Dec. 2024 USDA Milk Production report, U.S. milk production came in at 18.7 billion pounds, down 0.5% from Dec. 2023. For the last quarter, milk production reached 55.5 billion pounds, a 0.1% decrease year over year. U.S. milk cow numbers dropped 47 thousand head from Dec. 2023’s levels to Dec. 2024. In…
Updated on Jan. 21, 2025, the Dairy Margin Coverage (DMC) Decision Tool showed the projected 2025 all-milk prices are trending higher than 2024’s prices. Starting out strongly in January at $23.75 per cwt., the prices are forecasted to fall through July to $22.84. The all-milk price forecasts increase in November to $23.90, then dip slightly…
For November 2024, U.S. dairy exports decreased 9% year over year. November’s decline pushed the year-to-date milk solids equivalent (MSE) volume into the red. Throughout the first 11 months this year, U.S. dairy exports were 0.3% below last year’s levels in the same timeframe. Global demand fell slightly into November, as dairy prices increased to…
Based on November’s Dairy Products report, U.S. total cheese production equaled 1.15 billion pounds, down 1.7% year over year and 6.1% month over month. Italian type cheese increased 1.1% from November 2023 to 493 million pounds. American Type cheese output equaled 448 million pounds, a 4.9% decrease from last November’s levels.
