Livestock, Dairy, and Poultry Outlook: December 2020
Dairy: Milk production forecasts have been raised for 2020 and 2021 due to higher expected milk cow numbers. From the week ending November 7 to the week ending December 5, wholesale prices reported in the USDA National Dairy Products Sales Report for Cheddar cheese fell precipitously. Over the same period, prices for nonfat dry milk and butter declined, but the price for dry whey increased. The all-milk price forecast for the fourth quarter of 2020 has been raised by $0.0.5 to $19.80 per hundredweight (cwt). The 2020 annual all-milk price forecast rounds to $18.25 per cwt, unchanged from last month’s forecast. The all-milk price forecast for 2021 has been lowered by $1.10 to $16.60 per cwt.
See the LDP Outlook.