Dairy Cow Numbers Continue to Decrease
USDA released their monthly Milk Production report on Monday which reflected the month of November. Revisions were made, however, to October’s released numbers last month in addition to November. October’s milking herd was reduced another 5,000 head to 9.395 million. Milk per cow during October was increased from 1,970 to 1,982 which took total production for the month to 18.625 billion pounds, up 110 million and changed October’s 0.5% year-over-year (yoy) decline to 0.1% growth. Most of the revision was due to a change in California production which was originally pegged at -1.3% but was updated to 2.0% growth.
The November milking herd stands at 9.385 million, an additional 10,000 cows less than October’s revision. Milk per cow was printed at 1,922 lbs for the month and a total production of 18.035 billion. On a yoy basis, 2021 production was 0.4% lower than 2020. The milking herd is also 47,000 head lower than last year which is the largest deficit in two years.
CME spot dairy auction results saw all products not named cheese as unchanged and without trades. Barrel cheese traded 5 loads and a half cent softer to $1.625/lb. Block cheese weakened 2.75 cents to $1.86/lb with 3 loads exchanging hands. 2022 Class III futures ranged from 2 cents higher to 26 lower. Class IV traded lower on the day as well.
