U.S. Milk Production Update – Nov ’14
According to USDA, Oct ’14 U.S. milk production was up 3.8% YOY, at 17,095 million pounds. The YOY percentage increase in production was in line with the implied USDA World Agricultural Supply and Demand Estimate of 3.9% YOY growth throughout the remainder of 2014. U.S. milk production gains have accelerated on a YOY basis throughout the past several months as shown below. Oct ’14 YOY production growth of 3.8% was slightly higher than the 3Q ’14 production growth of 3.6%. YOY production gains on a percentage basis were led by Texas (+11.6%), Colorado (+9.7%) and Utah (+7.6%). Illinois and Oregon were the only two of the 23 monitored states to experience YOY production gains below the ten year monthly average, with production up 0.0% and 0.5%, respectively. The U.S. milk cow herd increased MOM for the tenth time in the last 11 months in Oct ’14, with the number of milk cows on farms increasing by 4,000 head over the Sep ’14 revised figure. The total milk cow herd stands at 9,280,000 head, a five and a half year high and 77,000 head more than October of last year. Milk per cow yield was up 2.9% YOY, increasing to a new October record of 1,842 lbs.