Further degradation of the Dairy Margin Coverage (DMC) margin continued through May. On June 30, the May DMC margin was announced as $4.83 per cwt. This represents a record low, falling 20 cents below the previous low of $5.03 per cwt set in August of 2021. Based on June 30 DMC projections, feed costs are…
After a sizable drop in the Class III futures prices from April through May, Class III futures prices continued to decline through June. Based on June 26 closing prices it appears that Class III milk price at $14.93 may close below $15 per cwt for the first month since it was $12.14 in May 2020….
US total milk production was up 0.6 percent year over year to 19.9 billion pounds in May. Production per cow was up 10 pounds, while the nation’s dairy herd was up 13,000 head to 9.43 million head. The herd size remained flat from April 2023. Six out of the eight top producing dairy states showed…
US dairy export volumes, on a milk solids basis, fell 13 percent to 185,476 MT MSE in April 2023. The decline was the worst year-to-year monthly decline in four years. The total export value in April fell 17 percent to $697.6 million. Skim milk and nonfat dry milk shipments were down 9 percent, while whole…
USDA announced the May Class III milk price at $16.11 per cwt., down $2.41 from April and $9.10 below year-ago levels. May’s Class III price is the lowest since August 2021. The Class IV price was announced at $18.10 per cwt., up 15 cents from April but down $6.89 from a year ago. Read More
The All-milk price fell to $20.70 per hundredweight, according to the USDA Ag Prices report, down 40 cents from March and $6.30 below year-ago levels. This is the lowest All-milk price since October 2021. Corn prices were announced at $6.70 per bushel, up 3 cents from last month but down 37 cents from a year…
Total US milk production was up 0.3 percent to 19.2 billion pounds in April, with production per cow up 1 pound to 2,037 pounds. The nation’s dairy herd grew by 26,000 head from a year ago to 9.43 million head, but shrank 16,000 head from a month ago. California is down 1.9 percent from a…
USDA is forecasting the highest ever global corn crop in 2023-24, according to the latest USDA World Agricultural Supply & Demand Estimates report. Global corn production is estimated at 1.22 billion metric tons, 6 percent higher than last year and a record high resulting from expanding acreage and higher yields. USDA is also projecting the…
The latest USDA Dairy Products report shows March 2023 cheese production up 11.7 percent from last month to 1.23 billion pounds, falling 0.2 percent from a year ago’s production level. Italian type cheese production was down 1.5 percent from last March to 512 million pounds, while American type cheese production was up 12.5 percent to…
The Dairy Margin Coverage (DMC) feed cost declined by 39 cents during March compared to February. All three DMC feed cost factors – corn, soybean meal (SBM), and superior alfalfa hay – experienced declines that resulted in a final total DMC feed cost of $15.02 per cwt. Unfortunately, the U.S. all-milk price declined an additional…
