Industry News

The USDA raised milk production forecasts for both 2020 and 2021. While 2021 annual average Class III and all-milk prices are expected to dip below 2020 levels, the latest projections improved more than $1 per hundredweight (cwt) from last month’s forecast. For dairy producers, however, soybean meal and corn prices are expected to climb.

For the first time in more than a year, monthly dairy product exports fell below year-earlier totals in November 2020, ending a consecutive growth streak at 14 months. Nonetheless, both 2020 export volume and value have already surpassed 2019 year-end levels with one month to go. Here’s a look at the topline numbers from the U.S. Dairy Export Council (USDEC):

The new year brings a renewed focus on personal and planetary goals, as many people strive to make choices they believe are healthier for themselves and the environment. Many will pledge to start exercising, use less water, save money, recycle plastics or eat better. New Year’s resolutions are all about a commitment to continuous improvement, which is something the U.S. dairy community strives toward year-round.

Digest Highlights

• Fifth ‘food box’ round seeks diverse cheese offerings
• USDA solicits bids for 3.35 million gallons of fluid milk
• Edge calls for more school milk options
• Global Dairy Trade index starts 2021 stronger
• Things you might have missed

With the ink dried on a 5,600-page, $2.3 trillion spending bill combining fiscal year 2021 omnibus appropriations with a COVID-19 relief package, dairy industry attention turns toward implementation of provisions designed to assist producers, processors and consumers.

Stronger milk prices offset higher feed costs in November, resulting in a monthly Dairy Margin Coverage (DMC) program national average margin above all indemnity payment triggers.