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USDA Report Highlights for the Week Ending March 8: more milk into industry channels

USA 12.03.2024
Source: The DairyNews
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In the latest USDA report covering the period from March 1 to March 8 revealed key insights into the pricing and demand trends for various dairy products.
USDA Report Highlights for the Week Ending March 8:  more milk into industry channels
Butter Market Overview:
  • Grade AA butter closed at $2.8025, with a weekly average of $2.8115 (+$0.0100).
  • Demand for butter varies across regions, with the Central region experiencing steady demand, the East noting stronger demand ahead of spring holidays, and the West indicating strong to steady retail demand.
  • Cream availability is generally abundant, but some stakeholders report tightening cream supplies compared to recent weeks.
  • Unsalted butter inventory is tight for Q1/Q2 spot purchasing, with bulk butter overages ranging from 3 to 12 cents above market across all regions.
Cheese Market Highlights:
  • Barrels closed at $1.4875, and 40# blocks at $1.4600, with weekly averages of $1.5860 (-$0.0760) for barrels and $1.4920 (-$0.1020) for blocks.
  • Eastern U.S. cheese plant managers report steady production schedules, with block cheese demand described as light.
  • Retail demand is steady, and an increase in demand is anticipated for the spring holidays.
  • Central region cheesemakers note a pickup in cheese demand, with strong sales expected by the end of March.
  • Spot milk prices in the West are reported as low as $3.50-under Class III, with steady cheese production schedules.
Fluid Milk Market Insights:
  • Milk production is seasonally higher, with weather conducive to cow comfort pushing more milk into industry channels.
  • Class I demand has eased with the approach of spring break, leading more milk to alternative classes.
  • Spot milk prices in the Upper Midwest range from $3.50-under Class to $1-over.
  • Condensed skim availability is growing, and plant downtime contributes to increased milk availability.
  • Cream availability remains high, but demand from the Class II sector is starting to impact overall cream availability.
Dry Products Analysis:
  • Low/medium heat nonfat dry milk (NDM) prices face bearish pressure due to quiet demand in recent weeks.
  • High heat NDM prices vary across regions, with steady to higher prices in the Central/East and steady to lower prices in the West.
  • Dry buttermilk prices remain unchanged in the Central and East regions but move lower in the West.
  • Condensed buttermilk availability is robust in the Central/East, supported by active churning and ample cream availability.
  • Dry whole milk prices move higher due to noted tight inventories.
  • Dry whey prices remain steady to lower in all regions, with uncertain market tones moving deeper into Q2.
  • Whey protein concentrate 34% and lactose prices are steady to higher, while acid and rennet casein prices move lower.
The report provides a comprehensive overview of the dairy market, highlighting key factors influencing prices and demand across various regions.
Jon Patterson
Jon Patterson
Owner of Patterson Farms in Cayuga County and director of the Northeast Dairy Producers Association.
Central New York was chosen to host the North American Manure Expo in July 2024. What does that have to do with the Finger Lakes? Everything. Our farmers were identified as industry leaders in sustainability. It is a testament to the environmental stewardship efforts implemented on farms across our region and state.
Ching Yee Lin
Ching Yee Lin
copywriter who focuses on the historical and contemporary issues concerning the Singapore society
Have you ever been told growing up that drinking milk is good for you? Let’s see if the beverage is actually good for you.
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