Sunday, December 09, 2018
 Milk Production for 2010 Up 1.8% over 2009  

The World Agricultural Supply and Demand Estimates (WASDE) recent report indicated that milk production for 2010 totaled 192.7 billion lbs., up 1.8% from 2009. After a slight decline in 2009, production is resuming the up-trend. The report also stated that USDA estimates milk production to increase another 1.4% this year.

Ending stocks for 2010 are reduced due to expected low stocks of butter and nonfat dry milk (NDM) at the end of the year. Imports for 2010 and 2011 are reduced due to low U.S. prices relative to those internationally coupled with a weak U.S. dollar. Skim-solids basis exports are raised as NDM exports are expected to be supported by tight world supplies into mid-2011. Fat basis exports for 2010 are lowered from last month on weaker-than-expected exports of butterfat. WASDE-490-5

Butter, NDM, and whey prices are forecast higher, but the cheese price forecast is lowered. Tighter beginning stocks support a higher butter price forecast while generally strong exports of NDM and whey will support higher prices. The cheese price forecast is reduced from last month on moderate demand. The Class III price forecast range is reduced as the lower forecast cheese price more than offsets the higher whey price forecast. The Class IV price forecast is raised as both the butter and NDM price forecasts are raised. The all milk price is forecast to average $16.10 to $16.90 per cwt for 2011.

The World Agricultural Supply and Demand Estimates (WASDE) report provides USDA's comprehensive forecasts of supply and demand for major U.S. and global crops and U.S. livestock. The report gathers information from a number of statistical reports published by USDA and other government agencies, and provides a framework for additional USDA reports.

Source: WASDE

Posted on Thursday, January 27, 2011 (Archive on Thursday, February 03, 2011)
Posted by  Contributed by