Saturday, March 30, 2024

US milk supply forecasts revised down

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US milk production forecast for 2015 has been lowered by the USDA in the latest World Agriculture Supply and Demand Estimate (WASDE) report.
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Slower growth in cow output will more than offset a faster herd expansion says the report. The volume of milk forecast to be produced in 2015 is now 211.1 billion pounds down from the 211.5 billion pounds forecast a month ago. However this remains 2.48% higher than 2014 production estimates.

Exports of both fat products and skim-solids have also been reduced as export demand is hampered by a strong US dollar and increased competition from other exporters.

Fat basis imports are higher on expectations of greater butterfat imports. Fat basis imports are higher on expectations of greater butterfat imports. 

Forecasts for butter and nonfat dry milk (NDM) have been revised up, supported by demand and price strength to date. Cheese prices are unchanged but the forecast price range has narrowed.

The Class III price is lowered on reduced whey prices. The Class IV price is higher due to higher NDM prices and butter prices.

The all milk price is forecast at $17.05 to $17.65 per cwt. 

Source: USDA

 

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