The November Outlook can be seen here.
The November 15 Livestock, Dairy and Poultry Outlook from the USDA Economic Research Service showed September ending stocks indicate that third-quarter cold and dried-egg storage for U.S. animal protein commodities changed compared to 2017 as follows: beef (up almost 3 percent), pork (down nearly 5 percent), lamb (up almost 29 percent), broilers (up more than 17 percent), turkey (down less than 1 percent), eggs (down nearly 15 percent), cheese (up more than 4 percent), and butter (up almost 11 percent).
Milk production in Iowa during October 2018 totaled 432 million pounds, down 1 percent from the previous October according to the latest USDA, National Agricultural Statistics Service – Milk Production report. The average number of milk cows during October, at 220,000 head, was unchanged from last month but 1,000 more than last year. Monthly production per cow averaged 1,965 pounds, down 30 pounds from last October.
The March 2018 milk production budgets for Iowa and Nebraska compiled by UNL Extension Educator Robert Tigner shows the 20,000 pound March 2018 budget has a negative $1.70 per cwt, 8 cents per cwt worse than February. When calculating net revenue after all variable costs are paid, there is only $0.595 per cwt to pay fixed costs and management. Unfortunately the fixed costs are $1.55 per cwt in the 20,000 pound budget. Feed costs rose by $0.415 per cwt but income was higher by only $0.105 per hundredweight. Corn was 10 cents per bushel higher, soybean meal $24 per ton higher and cottonseed $6.25 per ton higher. On the income side, total income rose due to increased protein and butterfat prices as well as a rise in pounds of butterfat. A slight decline in protein pounds and a big move to a negative PPD, -$0.30, softened the improved component prices effects.
One more comment on this dairy budget series. It is intended to be a sort of index of returns for milk production for the I-29 corridor and much of Iowa. Fixed costs have not been updated since August 2009.
The free stall budget is available Copy of March-dairy budget 2018
The tie stall budget is available Copy of March-dairy budget tie stalls 2018.
Milk production in Iowa during February 2018 totaled 402 million pounds, up two percent from the previous February according to the latest USDA, National Agricultural Statistics Service – Milk Production report.
Milk production in Iowa during January 2018 totaled 446 million pounds, up 4 percent from the previous January according to the latest USDA, National Agricultural Statistics Service – Milk Production report. The average number of milk cows during January, at 220,000 head, was unchanged from last month but 5,000 more than last year. Monthly production per cow averaged 2,025 pounds, up 25 pounds from last January.
Video of Mark Stephenson and Bob Cropp from UW visitng about production and stocks that are keeping pressure on milk prices at: