U.S. dairy dry product stock figures provided by the USDA were recently updated with values spanning through Aug ’20.
Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on email
Backlogs of butter and cheese are contributing to depressed milk prices, a University of Wisconsin economist says. Carol Ryan Dumas/Capital Press File

Highlights from the updated report include:

  • U.S. dry whey stocks finished 18.2% higher on a YOY basis throughout Aug ’20, reaching a two and a half year high level.
  • U.S. nonfat dry milk stocks declined to an eight month low level but remained 0.4% higher on a YOY basis throughout Aug ’20.

Additional Report Details Dry Whey – Stocks Increase to a Two and a Half Year High Level, Finish 18.2% Higher YOY  According to the USDA, Aug ’20 month-end dry whey stocks increased 1.5% from the previous month, reaching a two and a half year high level and finishing 18.2% higher on a YOY basis. Dry whey stocks reached a three year seasonal high level for the month of August. The YOY increase in dry whey stocks was the fourth experienced in a row. The MOM increase in dry whey stocks of 1.3 million pounds, or 1.5%, was a contraseasonal move when compared to the ten year average July – August seasonal decline in dry whey stocks of 4.0 million pounds, or 6.9%. Dry whey production declined 5.4% on a YOY basis throughout Aug ’20, finishing lower for the first time in the past six months.  On a days of usage basis, Aug ’20 U.S. dry whey stocks also finished higher YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of August, dry whey stocks on a days of usage basis finished 14.9% higher YOY, increasing on a YOY basis for the fifth consecutive month.  Nonfat Dry Milk – Stocks Decline to an Eight Month Low Level but Remain 0.4% Higher YOY  Aug ’20 month-end nonfat dry milk (NFDM) stocks declined 13.1% from the previous month, reaching an eight month low level but remaining 0.4% higher on a YOY basis. The YOY increase in NFDM stocks was the sixth experienced throughout the past seven months. The MOM decline in NFDM stocks of 40.6 million pounds, or 13.1%, was greater than the ten year average July – August seasonal decline in stocks of 21.0 million pounds, or 9.6%. Despite remaining higher on a YOY basis, Aug ’20 NFDM stocks finished 5.9% below three year average seasonal levels. NFDM production increased 8.8% on a YOY basis throughout Aug ‘20.  On a days of usage basis, Aug ’20 U.S. NFDM stocks finished lower YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of August, NFDM stocks on a days of usage basis finished 2.5% below previous year figures, declining on a YOY basis for the third time in the past four months.  Combined Dairy Product Stocks – Stocks Remain at a Record High Seasonal Level, Finishing up 4.7%  Aug ’20 combined stocks of butter, cheese, dry whey and NFDM declined seasonally to a five month low level but remained 4.7% higher on a YOY basis, finishing at a record high seasonal level. The YOY increase in combined stocks was the seventh experienced in a row.

It’s been over a year since the COVID-19 pandemic caused milk prices to plummet…

You may be interested in

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

To comment or reply you must 

or

Related
notes

Cerrar
*
*
Cerrar
Registre una cuenta
Detalhes Da Conta
*
*
*
*
*
Fuerza de contraseña

SUBSCRIBE TO OUR NEWSLETTER