The May 12 WASDE report showed 2020 milk production forecast raised from the previous month primarily on higher-than expected cow numbers at 222.2 Billion pounds.
Dairy farmers and industry professionals are invited to hear Dr. Marin Bozic address the current dairy situation during a free webinar at 12 noon on Wednesday, March 25. The webinar will last one hour and will include questions at the end.
Bozic is an Assistant Professor in Dairy Foods Marketing Economics in the Department of Applied Economics at the University of Minnesota.
While registration is free, on-line pre-registration is required at:
A link to the webinar will be sent to your email after you register. The webinar is hosted by the I-29 Moo University and Minnesota Milk.
Global markets are being rocked by coronavirus (known as COVID-19) and the dairy markets are no exception. Butter, cheese and powder markets have seen the pressure grow as the uncertainty and fear have expanded recently.
The all-items Consumer Price Index (CPI) from the USDA Economic Research Service, a measure of economy-wide inflation, was down 0.1 percent from October to November 2019 and is 2.1 percent above the November 2018 level. The CPI for all food was down 0.1 percent between October and November 2019, and food prices were 2.0 percent higher than the November 2018 level. The degree of food price inflation varies depending on whether the food was purchased for consumption away from home or at home.
- The food-away-from-home (restaurant purchases) CPI increased 0.2 percent in November and is 3.2 percent higher than November 2018; and
- The food-at-home (grocery store or supermarket food items) CPI decreased 0.3 percent from October to November and is 1.0 percent higher than last November.
Dairy outlook with Bob Cropp and Mark Stephenson is here
The Iowa State University (ISU) Extension and Outreach Dairy Team will host its annual Dairy Directions Series Dec. 10 in Sac City and Dec. 11 in Pocahontas.
The series will focus on replacement heifers, risk management, cooling dairy cows and updates on the dairy market outlook and ISU dairy herd.
Milk production forecasts for 2019 are raised on higher cow numbers and stronger growth in
milk per cow. For 2020, expected continued gains in milk per cow supported an increase in
the milk production forecast in this weeks WASDE report.
Continue reading “USDA Forecast 2020 Milks Holds At $18.85/cwt”
Registration Now Open for Upcoming Seminar
Agricultural lenders will receive current useful, research-based information during the Siouxland Agricultural Lender’s Seminar on Thursday, Nov. 7 with registration at 8:45 a.m. and programing from 9:00 a.m. to 3:45 p.m. at the Triple Box near Orange City. The seminar will present current information to assist lenders and farm financial advisors in their portfolio management, which is especially important in this era of continued market variability.
Due to recent declines in milk cow numbers, relatively high slaughter levels, and higher expected feed prices, milk production forecasts have been lowered for 2019 and 2020 in the USDA June World Agricultural Outlook. Dairy exports were relatively weak in April, and export forecasts have been lowered for both 2019 and 2020. The all-milk price forecast for 2019 is $18.00 per cwt, 5 cents lower than last month’s forecast. The all-milk price forecast for 2020 is $18.90 per cwt, 10 cents higher than last month’s forecast.