Market Update
August 27, 2010
Market Update: Overall Dairy Demand Strong, but Fluid Milk Sales Sag
By Bob Yonkers, Ph.D., IDFA Chief Economist While overall dairy demand is stronger so far in 2010 than last year, mainly thanks to greater exports, there is at least one dark cloud hovering overhead. According to estimates from the U.S. Department of Agriculture's Agricultural Marketing Service (AMS), total U.S. fluid dairy product sales through J...
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July 30, 2010
Dairy Market Update: Milk Supply and Demand Up in 2010
By Rob Blaufuss, IDFA Economic Analyst For the fourth consecutive month, total U.S. milk production experienced positive year-over-year growth, according to the June Milk Production report released by the National Agricultural Statistics Service (NASS). Total U.S. milk production was 16.324 billion pounds during June 2010, a 2.4 percent increase o...
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June 25, 2010
Dairy Market Update: Wholesale Prices Recover from Last Year's Lows
By Bob Yonkers, IDFA Chief Economist, Ph.D. While dairy market prices have moved both up and down in the first half of 2010, wholesale dairy product prices on average clearly have recovered from the low levels seen last year. In fact, weekly prices so far in 2010, as published by the National Agricultural Statistics Service (NASS), have averaged a...
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May 28, 2010
Dairy Market Update: USDA Outlook Predicts Continued Strength
By Bob Yonkers, IDFA Chief Economist, Ph.D. Heading into the summer of 2010, dairy markets in the United States and abroad have recovered from the distress of 2009. According to the U.S. Department of Agriculture, the outlook is for continued strength in dairy markets. On the supply side, U.S. farm milk production increased by 1.5 percent in Apri...
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April 30, 2010
Market Update: Farm Share of Retail Dairy Price Not Declining over Time
By Bob Yonkers, IDFA Chief Economist, Ph.D. A great deal of attention in the dairy industry has focused lately on farm milk prices and their relationship to retail prices for milk and dairy products. Data from two U.S. Department of Agriculture resources demonstrate that the farm value of a dairy retail market basket varies from year to year, but ...
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March 26, 2010
Market Update: Spring Brings Cherry Blossoms & Baseline Forecasts to D.C.
By Bob Yonkers, IDFA Chief Economist, Ph.D. Spring in Washington D.C. means more than just cherry blossoms; it is the time when government agencies and others release economic baseline forecasts for the next 10 years. Baselines are important because any and all proposed policy changes are evaluated by comparing the cost to the government versus th...
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February 26, 2010
Dairy Export Volume Slides in 2009, but Value Plummets
By Rob Blaufuss, IDFA Economic Analyst Following a record-setting dairy export year in 2008, the global economic recession caused world demand for dairy products to decline in 2009. This decline in global demand, coupled with increased world milk production, also caused precipitous declines in dairy product prices in 2009 compared to year-ago leve...
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January 29, 2010
Retail Price Trends Anything but Normal in 2009
By Bob Yonkers, IDFA Chief Economist, Ph.D. Consumer prices overall rarely decline from year to year, according to data from the U.S. Bureau of Labor Statistics (BLS), but retail price trends were anything but normal in 2009. In fact, the average Consumer Price Index for All Items in 2009 declined 0.31 percent, the first year-to-year decline since...
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December 31, 2009
Dairy Market Update: What a Difference a Year Makes
By Bob Yonkers, IDFA Chief Economist, Ph.D. As the year comes to a close, dairy markets have rebounded to high price levels not seen prior to 2007's record highs, except for a few months in 2004. What a difference from last year at this time, when dairy markets experienced significant price declines, and many dairy producers were already strugglin...
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November 20, 2009
Dairy Market Update: U.S. Dairy Is a Growth Industry
By Bob Yonkers, IDFA Chief Economist, Ph.D. The market for U.S. milk and dairy products, both domestically and internationally, has been growing dramatically in recent decades. As a result, U.S. farm milk production has grown to about 190 billion pounds per year. Looking back, however, U.S. dairy has not always been a growth industry. Prior to 19...
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