MILK
Milk production is variable across the country as spring flush has peaked. Cheese plants are busy with the available milk after schools have closed for the summer and bottling demand has slowed. Weather has been generally good for cow comfort. Strong milk prices have slowed the rate of culling as farmers are trying to get the most milk they can out of their cows. Forage harvesting has progressed rapidly in many areas of the country with some excellent quality forage being reported. This should reduce some of the need for supplements depending on the ration being fed. Dairy exports in April set a record for the month with a total of 213,193 metric tons, up one% from April 2021. The value of those exports reached $845.6 million, up 22% over a year earlier. This is amazing given the challenges that continue to plague the movement of exports.
AVERAGE CLASS III PRICES
| 3 Month: | $24.74 |
| 6 Month: | $24.55 |
| 9 Month: | $23.95 |
| 12 Month: | $23.35 |
CHEESE
April cheese exports were 2% above a year earlier totaling 41,375 metric tons. Of this total, cheddar exports were 108% higher, fresh cheese was 6% lower, shredded cheese was 29% lower and other cheese was 4% higher than a year earlier. The current price of cheese is competitive on the world market making it attractive for international buyers. Dry whey exports declined one% with dry whey down 19%, modified whey up 6% and whey protein concentrate up 24% compared to a year ago.
BUTTER
Butterfat exports increased 25% totaling 6,762 metric tons. Of the butterfat exports, butter declined 10% while anhydrous milk fat was up 380%. Whole milk powder exports declined 14% to 4.092 metric tons. Nonfat dry milk/skim milk power declined 6% totaling 73,529 metric tons compared to a year ago.
OUTSIDE MARKETS SUMMARY
July corn gained 7.50 points closing at $7.6450. July soybeans gained 11.75 cents closing at $17.40 with July soybean meal down $1.80 per ton closing at $415.60. July wheat gained 2 cents closing at $10.7475. June live cattle jumped $3.10 ending at $136.82. July crude oil gained $2.70 ending at $122.11 per barrel. The DOW declined 269 points closing at 32,911 while the NASDAQ declined 89 points closing at 12,086.
