Butter Headlined Recent USDA Milk Product Report

World Agriculture Outlook Board Chair, Mark Jekanowski this month's milk product and class price forecasts from USDA.

“The demand story also shows up in terms of dairy product prices. And noteworthy here that butter is the main dairy product this month really the only dairy product this month where we raised our price forecast or our butter price forecast is now at $2.92 per pound that was raised this month by 13 cents per pound just reflecting that strong domestic and global demand. whereas all the other main products cheese nonfat dry and dry way, prices were adjusted lower just reflecting observe prices and relatively weaker demand.”

Referring back to butter Jekanowski explains why butter is the highlight of the report.

“We're seeing strong imports of butter as well as exports of butter.

And as for dairy class prices, in terms of the dairy class prices, so class three price was reduced by 95 cents per hundredweight this month, and that reflects those lower price adjustments for cheese and weigh-in class for prices. On the other hand, were raised by 30 cents per hundredweight, and that reflects that strength in water markets and butter prices.”

Once again, USDA World Agricultural Outlook Board Chair Mark Jekanowski.