Still, the cost of dairy feed, as calculated by the Dairy Margin Coverage feed cost formula, dropped by $0.66/cwt during the month, boosting the July margin to $12.33/cwt. That’s the fourth highest monthly margin since margin protection became the basic dairy safety net program in January 2015.
Total U.S. fluid milk consumption was higher than a year earlier during over half of the past 10 months, through July. Yogurt, butter and total cheese, especially other than American types, saw positive growth in use during May-July. July U.S. dairy exports were up substantially over their average levels during the first half of this year, at 17.4% of total U.S. milk solids production compared to an average of 16.4% during the first half. July marked the 13th consecutive month with lower milk production than a year earlier, during which period milk production averaged -0.8% below a year ago, while milk solids production averaged -0.2% below a year ago.
View Report
Be the first to comment