Dairy Week In Review

The latest USDA World Agricultural Supply and Demand Estimates report could point to more manageable feed costs in the coming year. The report released last week increased the national average yield for corn by 1.9 bushels to 174.9 bu/acre, which was enough to increase the projected US corn production to a new record high of 15.2 billion bushels. USDA also increased its estimates for the average soybean yield to 49.9 bu/acre, up 0.3 bushels compared to last month’s report. Corn stocks are expected to reach a five year high of nearly 2.2 billion bushels, up 45 million bushels from last month’s report, while soybean stocks are expected to reach 245 million bushels, up 25 million bushels from last month’s projections but still slightly under historical averages.

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