No big surprise, the monthly Cold Storage Report from USDA shows total cheese stocks increased 2 percent in April to 1.024 billion pounds. The number is one percent less than April of last year. American-type cheese in storage totaled 628.4 million pounds at the end of April, up 4 percent for the month but 5 percent less than a year ago.
Milk production has been strong all this year with a lot of that extra milk going into cheese and a lot of that cheese going into storage.
Butter stocks were 253.85 million pounds as of April 30th, up 22 percent from March and 79 percent higher than April of 2011.
Dairy Market News does report milk production has peaked-out in the Midwest, Northeast and Southeast and may be at-peak in the west. Dairy processors say intakes have backed-off a little. In the meantime, there are indications more retailers are starting to feature cheese, they had been holding-off waiting to see how low the price would go.