News

2014 U.S. milk production estimate unchanged

The latest World Agricultural Supply and Demand Estimates from USDA on Wednesday left the U.S. milk production estimate for 2014 unchanged at 206.2 billion pounds. If realized it would be a 5-billion-pound increase over 2013.  The Outlook Board reduced the 2015 estimate slightly to 212.2 billion pounds.  That is 100 million pounds less than last month’s estimate reflecting more moderate growth in production per cow.

Cheese price estimates for 2014 were lowered 2-cents to between $2.15 and $2.16 per pound. The butter price was raised a half-cent to between $2.125 and $2.155 for this year.  Dry whey was unchanged and nonfat dry milk was reduced a penny to between $1.76 and $1.78 per pound.

The 2014 Class III milk price is expected to range between $22.30 and $22.40 for 2014. That is a 20-cent reduction from last month’s estimate as prices continue to decline.  The Class IV price estimate was unchanged at $22.05 to $22.25 this year.  The 2014 all milk price estimate was reduced a dime at $24.05 to $24.15 per hundredweight.  The 2015 all milk price is projected to be between $18.45 and $19.25.

Read the full NASS report here: