CME: November 50-State Milk Production Up

US - Spot markets were quiet ahead of the November “Milk Production” report. No sales took place and prices held unchanged on unfilled bids, writes Alan Levitt.
calendar icon 20 December 2011
clock icon 1 minute read

Milk futures were higher in the front months, steady in the back. Whey futures continued to climb higher, with MAR12 settling at 69.5¢.

Milk production in November in the 50 states was estimated at 15.775 billion lbs, up 1.8 per cent from last year, according to USDA’s latest “Milk Production” report. The report should be neutral to the market – roughly in-line with expectations and with the long-term trend.

Cow numbers decreased 1,000 head to 9.216 million, the first decline since the final CWT cull in August 2010.

Production-per-cow was 57.1 lbs. per day, up 0.5 lbs. (+0.8 per cent) from a year ago. Weather was conducive for milk production during the month, but feed quality is lacking.

Compared with a year ago, the largest production growth occurred in California (+77 million lbs. vs. last November), Texas (+61 million lbs.), New Mexico (+40 million lbs.) and Wisconsin (+32 million lbs.). The only states to register significant losses were Pennsylvania (-17 million lbs.) and New York (-13 million lbs.).

Further Reading

- You can view the full report by clicking here.

Further Reading

- You can view the full USDA milk production report by clicking here.

Daily Dairy Report - Copyright © 2008 CME. All rights reserved.

TheMeatSite News Desk
© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.