Lee Mielke

Farm milk prices are climbing but have a way to go to hit profitability for most U.S. dairy farms.

There’s more milk coming. The U.S. Department of Agriculture raised its 2023 U.S. milk production estimate in the April 11 World Agricultural Supply and Demand Estimates report, again citing a “larger expected cow inventory.”

The last week of March did not have a lot for the markets to feed on with respect to the U.S. Department of Agriculture reports regularly monitored. One such report was Prospective Plantings.

Cheese exports set another record

Nerves were frayed this week over the collapse of Silicon Valley Bank and New York’s Signature Bank, even as the Federal Deposit Insurance Corporation stepped in.

Fluid milk sales continue to drop

The February federal order Class III benchmark milk price was announced by the U.S. Department of Agriculture at $17.78 per hundredweight, down $1.65 from January, $3.13 below February 2022 and the lowest it has been since September 2021.

    The U.S. Department of Agriculture’s latest supply and utilization data shows dairy’s commercial disappearance in 2022 was strong, up 1.6%, according to StoneX broker Dave Kurzawski in the Feb. 20 “Dairy Radio Now” broadcast.

The U.S. Department of Agriculture announced the January Federal order Class III benchmark milk price at $19.43 per hundredweight, which is down $1.07 from December 2022, 95 cents below January 2022 and the lowest Class III price since December 2021.

Export demand for cheese remains steady

Things look a little better globally. The second Global Dairy Trade event of 2023 saw its weighted average slip just 0.1% following a 2.8% drop Jan. 3 and 3.8% Dec. 20, 2022.

Cheese exports up over 10% from year ago

 The last federal order Class III benchmark milk price of 2022 was announced at $20.50 per hundredweight, down 51 cents from November 2022 but $2.14 above December 2021.

Central cheese sales are seasonally steady

As reported last week, the U.S. Department of Agriculture left its 2022 milk production forecast unchanged in its World Agricultural Supply and Demand Estimates report but raised the 2023 estimate slightly, citing higher expected cow numbers and slightly more rapid growth in output per cow.

Holidays increase dairy demand

The U.S. Department of Agriculture announced the November federal order Class III benchmark milk price at $21.01 per hundredweight, down 80 cents from October but $2.98 above November 2021.

Midwestern cheesemakers running near capacity

Americans chewed through a lot of cheese in September, according to the U.S. Department of Agriculture’s latest Dairy Supply and Utilization report.

Cheese inventories remain steady

The October federal order Class III benchmark milk price was announced at $21.81 per hundredweight, up $1.99 from September, $3.98 above October 2021 and the highest October Class III since 2014.

2022 herd expansion weakest in 15 years

U.S. milk production jumped again in September thanks to increases in cow numbers and output per cow, but there’s more to the report than meets the eye.

U.S. exports soar in August

The September Federal order Class III benchmark milk price was announced at $19.82 per hundredweight, down 28 cents from August but $3.29 above September 2021.

Dairy product demand remains strong

Milk production forecasts for 2022 and 2023 were lowered from last month in the latest World Agricultural Supply and Demand Estimates report.

Class III futures hovering around $20

    What goes up, does come down, and dairy farmers know the drill all too well unfortunately.

Global supplies of dairy remain tight

The Global Dairy Trade auction racked up another decline in its weighted average Tuesday, fifth session in a row, down 2.9%, following the 5% drop Aug. 2.

U.S. dairy exports remain impressive

Finances are getting tighter on the farm.

The Agriculture Department again lowered its milk production estimates for 2022 and 2023 the latest World Agricultural Supply and Demand Estimates report (WASDE), citing slower expected growth in milk per cow.

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