U.S. headline milk production growth was much stronger than expected in September, up 4% compared to the forecast of +3.2%. The only other time that we’ve seen an expansion like this was the mid-1980s, reveals Nate Donnay.
Butter pricing is firming this week, cheese production nationally remains heavy, Northeast milk production is widely believed to have reached a plateau, and California milk output is mostly steady and remains at or near the seasonal peak, reports the USDA this week.
Butter prices dipped under the $1.40 level; cheese production is robust and fluid milk processors are operating plants on extended schedules, according to the U.S. Department of Agriculture.
Cheddar Cheese prices received for U.S. 40-pound blocks averaged $1.51 per pound for the week, up 1.8 cents. The price for U.S. 500-pound barrels adjusted to 38% moisture averaged $1.55 per pound, up 4.9 cents.
Butter prices received for 25-kilogram and 68-pound boxes meeting United States Department of Agriculture Grade AA standards averaged $1.44 per pound for the week ending March 17.
Butter prices received for 25 kilogram and 68 pound boxes meeting United States Department of Agriculture (USDA) Grade AA standards averaged $1.42 per pound for the week ending Feb. 25, 2012. The U.S. price per pound decreased 2.2 cents from the previous week.
Butter prices received for 25-kilogram and 68-pound boxes meeting USDA Grade AA standards averaged $1.59 per pound. The U.S. price per pound decreased 0.3 cents.
