The rapid evaporation of growth in dairy cows, milk and milk solids production dropped all three into negative territory during October. These supply-side effects have dominated the dairy situation recently and will continue to do so well into the coming year.
Domestic consumption growth of all milk and dairy products has been somewhat sluggish in recent months, but U.S. dairy exports during the first ten months of 2021 have set a new volume record of 17.6 percent of U.S. milk solids production, well above this measure’s second-highest year, 2020 at 16.3 percent.
The drop in production is being felt most in dry skim milk products, and to a lesser extent in butter and dry whey production. Cheese production remains the preferred channel for available milk. Product stocks are being drawn down and prices rising, as production trends change.
To view the report, click here.
Be the first to comment