News

August dairy supply and demand figures released

The USDA’s updated projection for 2018 milk production is unchanged from July but would be up about two billion pounds from a year ago.

The August supply and demand update has American milk production at just below 218-billion pounds.   Commercial stocks and marketings held steady.

Expectations for fat basis exports went up two million pounds from July to August reaching 10.4 billion pounds, while skim-solid basis exports were down six million pounds on the month at 45.4 billion pounds.  Domestic commercial use of milk fats is down slightly while the use of skim solids is up six million pounds.

USDA’s supply and demand report shows prices projections steady with July for cheese and butter, but up 15-20 cents a pound for nonfat dry milk and whey.  The anticipated all-milk price gained a nickel since July at $16.30 a hundredweight.  Class III and IV milk were also up slightly on the month.