CME: September Milk Production: +1.7 Per Cent

US - Milk futures sold off ahead of the September “Milk Production” report, which showed that herd expansion was virtually non-existent this summer but gains in productivity kept output above year-ago levels, reports Alan Levitt.
calendar icon 20 October 2011
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NOV and DEC Class III futures settled 36¢ lower today.

Butter futures also were lower as spot butter failed to attract any bids. Spot cheese held unchanged.

Total US milk production for September was estimated at 15.803 billion lbs., up 1.7 per cent from a year ago, according to USDA (see chart).

Third-quarter production was estimated at 48.725 billion lbs., up 1.4 per cent.

Cow numbers in September were 9.209 million head, up just 1,000 head from June. (Meanwhile, July and August cow numbers were revised lower, reversing earlier assumptions of herd growth this summer.)

Production per cow in September was 57.2 lbs./day, up 0.4 lbs. (+0.7 per cent) from last year.

California milk production was up just 0.6 per cent in September, as hot weather and expensive feed cut into productivity. Weather was milder in Wisconsin, where output was up 1.8 per cent compared with last year.

Further Reading

- You can view the full report by clicking here.

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