Dairy Demand
2024 U.S. dairy exports begin with dawdling first month
Global dairy demand is stagnant and anticipated to be through the first half of the year, with the 12th consecutive year-over-year monthly decline of U.S. dairy exports in January.
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USDA milk production lower due to lower cow inventories
The 2024 milk production forecast was lowered from last month. In addition, strong demand and price strength raised cheese and butter prices, while nonfat dry milk and whey price forecasts were lowered based on recent prices.
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Economic Update: March 2024 Class I base price improves
Federal government looks to extend funding while USDEC identifies five key points for dairy exports in 2024.
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Weekly Digest: Fewer dairy cows in drought areas
USDA forecast sees lower dairy income, DMC payments in 2024.
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December concludes year of limited dairy export growth in 2023
December closed out a year of strong competition from the European Union and New Zealand and sluggish demand, resulting in a 7% decline for U.S. dairy product exports in 2023.
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USDA milk production lower, offset by higher cow inventories
The 2024 milk production forecast was lowered, but recent price strength raises cheese, butter, nonfat dry milk and whey price forecasts.
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Economic Update: February 2024 Class I base price lower
For the second month in a row, November overall fluid milk sales were up slightly.
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