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.
20 December 2011
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. |
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