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In its latest World Agricultural Supply and Demand report, the US department of agriculture has projected an increase in US milk production in 2017 based on higher cow numbers. The report also suggests higher milk prices for 2017.
Dairy product prices for 2016 have been adjusted to include December’s price increases. Butter, cheese, skim milk powder and whey prices increased last month driven by higher demand.
Dairy import forecasts are unchanged for 2017. Fats exports are slightly reduced, but skim solids are raised.
Milk prices have been raised in all classes with the all-milk price up from a range of $16.85-$17.65 (35.30-36.96 c/l) to $17.60-$18.40/100lb (36.86-38.53 c/l)
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