High milk prices and low feed costs mean US dairy farmers are retaining more stock than normal in their herds.
Slaughter rates for dairy cows have tracked below the norm since February 2014. In November 2014 218,000 dairy cows were killed under federal inspection, 31,000 or 12% more than at the same time in 2013.
From January to November 2014 2,559,000 dairy cows were slaughtered in the US, 309,000 or 11% less than during the first 11 months of 2013.
The drop off in the slaughter numbers has contributed to an increase in the number of dairy cows in milk and the volume of milk being produced.
In November there were 82,000 more dairy cows in milk in the US than at the same time a year ago. The increase in cow numbers accounted for approximately 1/3rd of the increase in milk production in November while an improvement in cow productivity accounted for the remainder of the growth in milk output. In November 2014 milk production grew 3.4% year-on-year.
