U.S. Milk Production Update – Oct ’14
According to USDA, Sep ’14 U.S. milk production was up 4.0% YOY, at 16,472 million pounds. The YOY percentage increase in production was the largest in two and a half years and in line with the implied USDA World Agricultural Supply and Demand Estimate of 3.9% YOY growth throughout the remainder of 2014. Midwestern milk production continues to stabilize, with aggregate YOY production in Wisconsin, Minnesota, Iowa and Illinois up 2.7%. Western YOY production gains, consisting of aggregate production in California, Idaho, Washington and Oregon, was up 3.2%. YOY production gains on a percentage basis were led by Colorado (+10.8%), Texas (+9.6%) and Kansas (+9.2%). Illinois was the only of the 23 monitored states to experience a YOY decline in milk production, with production declining one million pounds, or 0.7%. The U.S. milk cow herd increased MOM for the ninth time in the last ten months in Sep ’14, with the number of milk cows on farms increasing by 2,000 head over the Aug ’14 revised figure. The total milk cow herd stands at 9,267,000 head, 59,000 head more September of last year. Milk per cow yield was up 3.4% YOY, increasing to a new September record of 1,777 lbs. The ’13-’14 milk production season finished up 1.6% YOY and up 3.5% over the last quarter of the season, fueled by improved weather and record high milk prices.