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nonfat dry milk and skim milk powder up 36.1%
USDA estimates milk production for the month was 1.8% higher than a year ago. Milk cow numbers continue to increase with 77,000 more cows than a year ago for an increase of 0.8%. The increase in milk per cow slowed some with an increase of 1%.
Higher milk prices
The level of milk production for the remainder of the year is crucial to how milk prices will fare. USDA is forecasting a relatively strong increase in milk production for the year, at 2.3% higher than last year, Leap Year adjusted. Milk cow numbers are forecasted to average 72,000 head higher or 0.8% and milk per cow is expected to be 1.5% higher.
Dairy product prices show strength in April
Bob Cropp
Despite relatively strong milk production growth dairy product prices continued to show strength during April.
While prices on the CME moved up and down during the month, the price of cheese, dry whey, butter and nonfat all strengthened. The 40-pound cheddar block price was as low as $1.74 per pound, strengthened to $1.80 and current is $1.7950.
Cheddar barrels were as low as $1.5125 per pound but have strengthen currently to $1.8050. Barrels have been well below the block price but now have surpassed blocks. Dry whey ranged from $0.63 per pound to $0.7025 and currently is $0.6825.
Butter ranged from $1.8150 per pound to $1.950 and currently is $1.7925. Nonfat dry milk ranged from $1.18 per pound to currently at $1.24.
Inflation in the Corn Market? - AG INFORMATION NETWORK OF THE WEST aginfo.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aginfo.net Daily Mail and Mail on Sunday newspapers.