News

USDA’s dairy price continues to improve

USDA is expecting 2020 milk production to decline some and farmers to start rebuilding herds in 2021.

In its July supply and demand report, USDA forecast 2020 cheese, butter, and nonfat dry milk prices higher than last month because of recent price strength and anticipated demand.  The whey price was lowered while the 2020 Class III and Class IV prices were raised.

The 2020 all milk price was raised by $1.60 to $18.25 per hundredweight.  

The export forecast was raised because of the expected increases of dry skim milk products and lactose exports.

USDA forecast 2021 cheese, butter, and nonfat dry milk prices higher and whey prices were unchanged.  The Class III and Class IV prices were raised for 2021 along with exports because of strong international demand.

The 2021 all milk price was raised 85 cents to $17.05 per hundredweight.