The average price received by farmers for milk during April 2023 in Iowa was $19.30 per cwt according to the latest USDA, National Agricultural Statistics Service – Agricultural Prices report. That was 90 cents below the March price and $7.80 below April 2022 and a 19-month low.
The USDA World Agricultural Supply and Demand Estimates were released on February 9.
The 2021 milk production, trade, and stock estimates are adjusted to reflect December data. For 2022, the milk production forecast is lowered from last month, on lower dairy cow numbers. The Cattle report estimated the dairy cow inventory on January 1 almost one percent below 2021, and the number of heifers held for dairy cow replacement was three percent lower.
Milk production in Iowa during April 2021 totaled 463 million pounds, up 4% from the previous April according to the latest USDA, National Agricultural Statistics Service – Milk Production report. The average number of milk cows during April, at 227,000 head, was the same as last month but 8,000 more than April 2020. Monthly production per cow averaged 2,040 pounds, the same as last April.
Webinar for dairy producers and affiliated industry members Aug. 25
The I-29 Moo University Consortium welcomes Rabobank’s global dairy strategist Mary Ledman and Vice President of Dairy Research Ben Laine for a discussion on the outlook for the global and United States dairy markets during a webinar at noon on Tuesday, Aug. 25. There is no charge to attend the webinar, and it is open to all interested parties.
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.
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.
Dairy outlook with Bob Cropp and Mark Stephenson is here