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 ’20

  • February 24, 2020
  • by Belinda Przybylski
Executive Summary U.S. cold storage figures provided by the USDA were recently updated with values spanning through Jan ’20. Highlights from the updated report include:
  • U.S. butter stocks remained higher on a YOY basis for the seventh consecutive month during Jan ’20, finishing up 14.9% and reaching a 26 year seasonal high level.
  • Jan ’20 U.S. cheese stocks rebounded from the 22 month low level experienced throughout the previous month but remained lower on a YOY basis for the seventh time in the past eight months, finishing down 1.2%.
Additional Report Details Butter – Stocks Remain at a 26 Year High Seasonal Level, Finish up 14.9% YOY According to the USDA, Jan ’20 U.S. butter stocks rebounded seasonally to a four month high level while remaining higher on a YOY basis for the seventh consecutive month, finishing up 14.9% to a 26 year seasonal high level. The MOM increase in butter stocks of 53.0 million pounds, or 28.0%, was fairly consistent with the ten year average December – January seasonal build of 44.8 million pounds, or 34.6%. Butter stocks typically reach seasonal low levels throughout the months of November and December, prior to increasing throughout the first half of the calendar year. On a days of usage basis, Jan ’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 January, butter stocks on a days of usage basis increased YOY for the second time in the past three months, finishing up 15.0%. Cheese – Stocks Remain Lower YOY for the Seventh Time in Eight Months, Finish Down 1.2% YOY Jan ’20 U.S. cheese stocks rebounded seasonally from the 22 month low level experienced throughout the previous month but remained 1.2% lower on a YOY basis. The YOY decline in cheese stocks was the seventh experienced throughout the past eight months but the smallest experienced throughout the past four months on a percentage basis. Despite declining on a YOY basis, Jan ’20 U.S. cheese stocks remained 5.7% above three year average seasonal levels. American cheese stocks declined 3.1% YOY throughout the month, more than offsetting a 1.5% YOY increase in other-than-American cheese stocks. The MOM increase in cheese stocks of 30.7 million pounds, or 2.3%, was larger than the ten year average December – January seasonal build of 14.2 million pounds, or 1.3%. On a days of usage basis, Jan ’20 U.S. cheese stocks also remained lower YOY. When assuming 12-month rolling average YOY changes in usage rates and known stock values for the month of January, cheese stocks on a days of usage basis declined YOY for the fifth consecutive month, finishing down 2.9%. Combined Dairy Product Stocks – Stocks Decline to a Three Year Seasonal Low, Finish Down 2.1% YOY Dec ’19 combined stocks of butter, cheese, dry whey and NFDM declined on a YOY basis for the third consecutive month, finishing down 2.1%. Combined dairy product stocks reached a three year seasonal low level but remained 1.9% above three year average seasonal figures. Combined stocks of butter, cheese, dry whey and NFDM are projected to remain lower on a YOY basis for the fourth consecutive month throughout Jan ’20 when using actual butter and cheese stock figures and previous month YOY changes in dry whey and NFDM stocks, declining by an estimated 0.6%. Jan ’20 dry whey and NFDM stock figures are scheduled to be available March 4th.  
U.S. Dairy Cow Slaughter Update – Feb ’20
U.S. Per Capita Dairy Consumption Update – Feb ’20
Dairy
Ethanol
Livestock
Grain

Recent Dairy Research

  • U.S. Dairy Exports Update – Mar ’21
  • U.S. Dairy Dry Product Stocks Update – Mar ’21
  • U.S. Dairy Product Production Update – Mar ’21
  • Global Dairy Trade Results Update – 3/2/21
  • Atten Babler Dairy FX Indices – Mar ’21
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 2021 Atten Babler Commodities LLC