U.S. Milk Production Update – Jan ’15
According to USDA, Dec ’14 U.S. milk production was up 3.1% YOY, at 17,318 million pounds. The YOY percentage increase in production was slightly lower than the implied USDA World Agricultural Supply and Demand Estimate production growth rate of 3.3%. U.S. milk production gains have accelerated on a YOY basis throughout much of 2014 as shown below, however production growth has tapered off over the final quarter of the year. YOY production growth fell for the third month in a row in Dec ’14 but remained above the calendar year average YOY growth rate of 2.4%. YOY production gains on a percentage basis were led by Texas (+9.7%), Utah (+8.8%) and Michigan (+7.8%). YOY declines in production were experienced in Illinois (-0.6%), Oregon (-0.5%) and California (-0.1%). Illinois and California both experienced slight reductions in their milk cow herds while Oregon experienced lower milk per cow yields in Dec ’14. Overall, the U.S. milk cow herd increased MOM for the 12th time in the last 13 months in Dec ’14, with the number of milk cows on farms increasing by 22,000 head over the Nov ’14 revised figure. The 22,000 head monthly increase was the largest in over eight and a half years. The total milk cow herd stands at 9,302,000 head, a near six year high and 100,000 head more than December of last year. Milk per cow yield was up 2.0% YOY, increasing to a new December record of 1,862 lbs.