Skip to content
800-884-8290

|

Client Login

|

Open an Account
  • About Us
  • Services
    • Futures & Options Brokerage
    • Organic Grain Swaps
    • Margin Management
    • Commodity Marketing Education
    • Consulting & Insurance
  • Research
    • Dairy
    • Livestock
    • Grain & Oilseeds
    • Ethanol & Biodiesel
  • Account
  • Quotes
  • Contact Us

U.S. Dairy Cold Storage Update – Jan ’21

  • January 26, 2021
  • by Belinda Przybylski
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Dec ’20. Highlights from the updated report include:
  • U.S. butter stocks remained higher on a YOY basis for the 18th consecutive month, finishing up 44.4% and reaching a 28 year high seasonal level. The YOY increase in butter stocks was the largest experienced throughout the past four years on a percentage basis.
  • U.S. cheese stocks finished 5.7% above previous year levels throughout Dec ’20, reaching a record high seasonal level. The YOY increase in cheese stocks was the largest experienced throughout the past eight months on a percentage basis.
Additional Report Details Butter – Stocks Reach a 28 Year High Seasonal Level, Finish 44.4% Higher YOY According to the USDA, Dec ’20 U.S. butter stocks rebounded seasonally from the ten month low level experienced throughout the previous month while finishing 44.4% higher on a YOY basis, reaching a 28 year high seasonal level for the month of December. The YOY increase in butter stocks was the 18th experienced in a row and the largest experienced throughout the past four years on a percentage basis. The MOM increase in butter stocks of 8.7% was largely consistent with the ten year average November – December seasonal increase of 8.8% on a percentage basis but was significantly larger on an absolute basis (22.0 million pound increase compared to a ten year average increase of 11.0 million pounds). Butter stocks typically reach seasonal low levels throughout the month of November, prior to increasing seasonally throughout the month of December and the first half of the calendar year. On a days of usage basis, Dec ’20 U.S. butter stocks also finished higher YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of December, butter stocks on a days of usage basis increased YOY for the eighth time in the past nine months, finishing up 42.2%. Cheese – Stocks Reach a Record High Seasonal Level, Finish 5.7% Higher YOY Dec ’20 U.S. cheese stocks increased sharply from the previous month while finishing 5.7% higher on a YOY basis, reaching a record high seasonal level. The YOY increase in cheese stocks was the second experienced in a row and the largest experienced throughout the past eight months on a percentage basis. American cheese stocks increased 6.8% on a YOY basis throughout the month while other-than-American cheese stocks finished 4.3% above previous year levels. The MOM increase in cheese stocks of 51.1 million pounds, or 3.8%, was the largest on record on an absolute basis, finishing significantly larger than the ten year average November – December seasonal increase of 11.4 million pounds, or 1.1%. On a days of usage basis, Dec ’20 U.S. cheese stocks finished higher YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of December, cheese stocks on a days of usage basis increased YOY for the fifth time in the past six months, finishing up 6.6%. Combined Dairy Product Stocks – Dec ’20 Stocks Projected to Remain at a Record High Seasonal Level Combined stocks of butter, cheese, dry whey and nonfat dry milk remained at a record high seasonal level for the tenth consecutive month throughout Nov ’20, finishing 6.2% above previous year levels. Combined stocks of butter, cheese, dry whey and nonfat dry milk are projected to remain higher on a YOY basis throughout Dec ’20 when using actual butter and cheese stock figures and previous month YOY changes in dry whey and nonfat dry milk stocks, increasing by an estimated 8.1% and reaching a record high seasonal level. Dec ’20 dry whey and nonfat dry milk stock figures are scheduled to be available February 4th.  
U.S. Milk Production Update – Jan ’21
U.S. Dairy Cow Inventory Update – Jan ’21
Dairy
Ethanol
Livestock
Grain

Recent Dairy Research

  • Food Service Sales Update – Mar ’24
  • U.S. Dairy Trade Update – Sep ’23
  • Food Service Sales Update – Dec ’22
  • Global Dairy Trade Update 11-15-22
  • Dairy Products Production – Jul ’29
Atten Babler Commodities LLC
11406 US Route 20 W
Galena, IL 61036
800-884-8290
Privacy Policy
Atten Babler Commodities, a DBA of Pinion Futures LLC is a CFTC registered Introducing Broker and NFA Member (NFA #0284447) is a fully owned subsidiary of Pinion Risk Management LLC. Information contained herein is believed to be reliable, but cannot be guaranteed as to its accuracy or completeness. Past performance is no guarantee of future results or profitability. Futures and options trading involve substantial risk of loss and is not suitable for all investors. Clients may lose more than their initial investment. All information, communications, publications, and reports, including this specific material, used and distributed by PF shall be construed as a solicitation for entering into a derivatives transaction. PF does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.


Atten Babler Insurance Services a DBA of Pinion Commodities Solutions LLC is an equal opportunity provider and employer. The U.S. Department of Agriculture (USDA) prohibits discrimination against its customers, employees, and applicants for employment on the bases of race, color, national origin, age, disability, sex, gender identity, religion, reprisal, and where applicable, political beliefs, martial status, familial or parental status, sexual orientation, or all or part of an individual's income is derived from any public assistance program, or protected genetic information in employment, or in any program or activity conducted or funded by the Department. (Not all prohibited bases will apply to all programs and/or employment activities. This publication is brought to you by Atten Babler Insurance Services and is intended for informational purposes only. Nothing contained herein can or should be interpreted to take precedence over policy language, Federal Crop Insurance Corporation/Risk Management Agency regulation, and Underwriting or Loss Adjustment rules.
© Copyright 2025 Atten Babler Commodities LLC