CME: January 50-State Milk Production +3.4%

US - Milk supplies were very heavy in January. Production in the 50 states was estimated at 16.945 billion lbs last month, up 3.4% from the prior year, according to USDA’s “Milk Production” report released Friday afternoon, writes Alan Levitt, in Friday's dairy report.
calendar icon 20 February 2012
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Producers continued to expand. Cow numbers increased 13,000 head from December.

Meanwhile, mild weather helped production per cow come in at 59.2 lbs./day, up 1.5 lbs. (+2.5%) vs. a year ago.

The Class I base price for April is $16.30, down 73¢ from March. This is the lowest price since February 2011.

NASS dairy product prices for the week ending Feb. 11: cheddar blocks $1.5311 (-2.76¢ vs. the prior week); barrels $1.5294 (-1.15¢); butter $1.4991 (-4.94¢); nonfat dry milk $1.4039 (+1.86¢); dry whey 64.14¢ (-2.34¢).

CME Group will be closed Monday, Feb. 20, in observance of Presidents’ Day. Globex trading for dairy will resume at 5pmCT on Monday for Tuesday’s trade date.

CME Group amended the last trading date for cash settled dairy futures and options, beginning with the APR contracts, to correspond with USDA’s revised release schedule for Class and Component prices. See the attached report for details.

Further Reading

- You can view the full report by clicking here.

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