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 – Feb ’15

  • February 23, 2015
  • by wbabler
Butter – Stocks Increase on YOY Basis for First Time in 14 Months Monthly US Butter Stocks - Feb According to USDA, Jan ’15 U.S. butter stocks of 148.1 million pounds finished up 41.4% MOM and 2.9% YOY. The YOY increase in butter stocks was the first experienced in the past 14 months. The MOM increase in butter stocks of 43.4 million pounds was consistent with the five year average Dec – Jan seasonal build of 44.3 million pounds. Jan ’14 – Dec ’14 butter cold storage figures were also revised higher by 6.3% as a result of updated facility information. The May ’14 – Dec ’14 seasonal drawdown in butter stocks of 104.7 million pounds was less than half of the prior year’s seasonal drawdown due to a significant reduction in export demand. Throughout the period, YOY U.S. butterfat exports declined by 89.1 million pounds, or 55.9%, as domestic butter prices traded at a significant premium to international butter prices. U.S. butterfat exports reached a five month high in Dec ’14 as the U.S. butter price premium was reduced; however export volumes remain far below historical levels heading into 2015. US Butter Stocks Jan - Feb Cheese – Stocks Increase on YOY Basis for Third Consecutive Month Monthly US Cheese Stocks - Feb Jan ’15 U.S. cheese stocks of 1.04 billion pounds continue to increase on a YOY basis, finishing up 27.5 million pounds, or 2.7%. The monthly YOY increase in cheese stocks was the third in a row after ten consecutive months of YOY declines were experienced from Dec ’13 to Sep ’14. American cheese stocks also increased YOY for the third consecutive month, finishing up 1.7 million pounds, or 0.3% YOY. Declines in YOY U.S. cheese stocks accelerated throughout the spring and summer months of 2014 as milk production in key cheese producing states declined and U.S. cheese exports increased. This trend has continued to reverse course as milk production has stabilized in Midwestern cheese producing states while cheese exports declined YOY from Oct ’14 – Dec ’14 for the first times in 18 months. The Nov ’14 – Dec ’14 YOY declines in cheese exports were the largest in over five years on a percentage basis, although export volumes remain significantly higher than historical figures. U.S. cheese stocks typically exhibit a smaller degree of MOM and YOY variation than U.S. butter stocks. Cheese stocks do not have as large of a seasonal build as butter stocks, with the five year average Nov – Jul seasonal build in cheese stocks representing a 12.7% increase in stocks vs. a 121.1% increase in butter stocks. The reduced seasonality exhibited in U.S. cheese stocks has led to less volatile YOY variation, with cheese stocks having a five year average absolute YOY change of 5.3% compared to 26.3% for U.S. butter stocks. US Cheese Stocks Jan - Feb
U.S. Dairy Cow Slaughter Update – Feb ’15
U.S. Commercial Disappearance Update – Feb ’15
Dairy
Ethanol
Livestock
Grain

Recent Dairy Research

  • U.S. Milk Production Update – May ’22
  • Global Dairy Trade Results Update – 5/17/22
  • U.S. Dairy Product Production Update – May ’22
  • U.S. Dairy Dry Product Stocks Update – May ’22
  • U.S. Dairy Exports Update – May ’22
Atten Babler Commodities LLC
11406 US Route 20 W
Galena, IL 61036
800-884-8290
Privacy Policy
Futures, options and swaps brokerage is provided through Atten Babler Commodities LLC. The risk of loss in trading commodity futures and options and swaps is substantial. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs) within the meaning of Section 1a(18) of the Commodity Exchange Act. Before trading, you should carefully consider your financial position to determine if futures, options or swaps trading is appropriate. When trading futures, options or swaps, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results. Atten Babler Commodities LLC use sources that they believe to be reliable, but they cannot warrant the accuracy of any of the data included in this site. Opinions and market data are subject to change at any time. Unless otherwise stated the information contained herein is meant for informational purposes only and is not a solicitation to buy futures or options or swaps.
© Copyright 2022 Atten Babler Commodities LLC