The latest milk production data from USDA shows farmers are still generating a lot of milk despite low prices. June 2018 U.S. milk production, up a moderate 1.2 percent compared to a year earlier, should be bullish for prices. However, ongoing tariff wars with major export customers cloud the price picture.
Reviewing the USDA estimates for June 2018 compared to June 2017:
- U.S. milk production: 18.3 billion pounds, up 1.2 percent
- U.S. cow numbers: 9.404 million, unchanged
- U.S. average milk per cow per month: 1,943 pounds, up 23 pounds ( highest per cow average since 2003)
- 23-state milk production: 17.2 billion pounds, up 1.3 percent
- 23-state cow numbers: 8.745 million, up 12,000 head
- 23-state average milk per cow per month: 1,964 pounds, up 23 pounds
- Colorado surged ahead, increasing production by 11% from last year. Kansas followed with a 7.5% increase and Texas jumped up in production by 6.6%.
Source: USDA Milk Production report, July 20, 2018
