USDA Cold Storage Report Shows Dairy Stocks Up Across The Board

The USDA NASS released the Cold Storage report yesterday with data for the month of May.

Butter stocks were 321.6 million pounds in May, up 8% from April but 22% below 2021’s level. Total cheese stocks in May rose 2% from the prior month and increased 4% from a year earlier to 1.5 billion pounds setting an all-time high for cheese stocks.. Both American and Swiss cheese stocks increased 4% and 18%, respectively, from last year.

Iowa May Milk Up 3 Percent YOY

Milk production in Iowa during May 2022 totaled 493 million pounds, up 3 percent from the previous May
according to the latest USDA, National Agricultural Statistics Service — Milk Production report. The average
number of milk cows during May, at 232,000 head, was 1,000 above last month and up 4,000 from May 2021.
Monthly production per cow averaged 2,125 pounds, up 30 pounds from last May.

Milk production in the 24 major States during May totaled 18.8 billion pounds, down 0.6 percent from May 2021.
April revised production, at 18.3 billion pounds, was down 0.9 percent from April 2021. The April revision
represented a decrease of 3 million pounds or less than 0.1 percent from last month’s preliminary production
estimate.

Production per cow in the 24 major States averaged 2,114 pounds for May, 8 pounds above May 2021.
The number of milk cows on farms in the 24 major States was 8.91 million head, 84,000 head less than May 2021,
but 2,000 head more than April 2022.

Milk production in the United States during May totaled 19.7 billion pounds, down 0.7 percent from May 2021.
Production per cow in the United States averaged 2,096 pounds for May, 8 pounds above May 2021.
The number of milk cows on farms in the United States was 9.41 million head, 102,000 head less than May 2021,
but 2,000 head more than April 2022

Global Dairy Trade Event 310 concluded with the GDT Price Index down 1.3%

Key Results

AMF index down 4.7%, average price US$5,913/MT
Butter index up 2.4%, average price US$6,213/MT
BMP not offered
Ched index down 9.0%, average price US$4,875/MT
LAC index not available, average price not available
SMP index up 1.0%, average price US$4,276/MT
SWP index not available, average price not available
WMP index down 0.6%, average price US$4,125/MT

Full results have been published on www.globaldairytrade.info.

Global Dairy Trade Event 309 concluded with the GDT Price Index up 1.5%

Key Results

AMF index up 2.7%, average price US$6,201/MT
Butter index up 5.6%, average price US$6,068/MT
BMP index up 4.5%, average price US$4,398/MT
Ched index down 3.6%, average price US$5,365/MT
LAC index not available, average price not available
SMP index up 3.0%, average price US$4,240/MT
SWP index not available, average price not available
WMP index down 0.3%, average price US$4,158/MT

Full results have been published on www.globaldairytrade.info.