The USDA
left its milk production forecast for this year unchanged while prices were
mainly lowered.
In its February supply and demand report, USDA forecast 2020 cheese and butter prices lower on relatively weak demand. Nonfat dry milk prices were unchanged while whey was increased slightly. The 2020 Class III price was lowered because of expected lower cheese prices and Class IV prices were also lowered because of the lower butter forecast
The 2020 all
milk price was reduced by 40 cents to $18.85 per hundredweight.
Exports on a
fat basis for 2020 were unchanged. The
skim-solids basis export forecast was raised because of strong international
demand for skim and nonfat dry milk.
Continue reading USDA calls for steady milk production, weakening prices at Brownfield Ag News.
