USDA reported its June fluid milk product sales a couple of weeks ago, with total milk sales falling almost 300 million pounds, or 8.5 percent, from May to about 3.064 billion pounds, or about 356.2 gallons, in June. When fluid milk sales drop during the summer months, some of that milk is often diverted into…
The August Class III milk price was announced at $17.19 per cwt., up $3.42 from July’s low but down $5.33 from year-ago levels. Class III futures prices on the CME continue their rebound in September and average $18.69 per cwt for the reminder of the year. USDA announced the August Class IV price at $18.91…
Higher cull values coupled with tighter dairy margins are continue to drive dairy cow slaughter levels. Dairy cow slaughter was up 6.1 percent, or about 14,000 head, from a year ago to 244,200 head culled in July. Dairy cows culled in July did fall from June, though, according to the latest USDA Livestock Slaughter report,…
For the first time since May 2022, US total milk production is down, falling 0.5 percent in July to 19.075 billion pounds, with 13,000 head fewer cows in the nation’s dairy herd, now at 9.4 million head. Milk per cow nationally also fell, dropping 0.5 percent from a year ago to 2,029 pounds per cow….
The dairy price index on the latest Global Dairy Trade session fell 7.4 percent from the previous session to its lowest level since April 2020. The price fell to $2,875 per metric ton, marking the seventh consecutive session-to-session drop in the price. Whole milk powder prices fell 10.9 percent to a seven-year low, while skim…
The latest USDA Dairy Products report shows total cheese production up 0.4 percent from a year ago to 1.17 billion pounds, but down 2.8 percent from May 2023. Hard cheeses saw the greatest increases in production, with Parmesan output up 9.4 percent. Soft cheese production was down, with ricotta falling 9.5 percent from a year…
The June Dairy Margin Coverage (DMC) margin was announced as $3.65 per hundredweight (cwt) (Table 1) and hit a record low for the second consecutive month. Indemnities were triggered at all margin coverages ($4.00 up to $9.50 per cwt) for the first time in program history. The June Margin is $1.40 per cwt less than…
Total US milk production was down 0.1 percent in May, according to the latest USDA Milk Production Report, with 5,000 fewer head of dairy cows and 1 pound more milk per day. California’s milk production was down 1.2 percent, while Wisconsin’s was up 1 percent. Idaho and New York were both up in milk production,…
The latest USDA Livestock, Dairy and Poultry Report left 2023 farm milk productions unchanged from last month at 228.4 billion pounds for the year. Forecasts for 2024 were lowered from last month to 230.6 billion pounds, driven by a lower projected dairy herd and slower growth in milk per cow. The All-Milk price forecast for…
US dairy exports fell 13 percent year-over-year in May, with oversea shipments at the equivalent of 29,295 metric tons of milk solids. Nearly all products fell below prior-year levels. Cheese exports fell 18 percent, with US prices struggling to compete with global dairy prices right now. It was the largest year-to-year volume decline since 2015….
