U.S. Milk Production Update – Feb ’15
According to USDA, Jan ’15 U.S. milk production was up 2.1% YOY, at 17,640 million pounds, setting a new January production record. Production also increased MOM, up 1.8% on a daily average basis vs. Dec ’14 figures as production continues to build seasonally. The Jan ’15 seasonal build was slightly lower than the ten year average Dec ember – January increase in production of 2.2%. U.S. milk production gains accelerated on a YOY basis throughout much of 2014, as shown below, however production growth has tapered off over the final quarter of the year and into 2015. YOY production growth fell for the fourth consecutive month in Jan ’15 and was reduced to levels below the 2014 calendar year average YOY growth rate of 2.4%. YOY production gains on a percentage basis were led by Michigan (+9.6%), South Dakota (+8.7%) and Utah (+6.9%). California milk production declined YOY for the second consecutive month, finishing 2.6% lower, while New Mexico production finished 1.9% lower than the prior year. Both states experienced lower YOY milk per cow yields while California also experienced a reduction in their milk cow herd. Overall, the U.S. milk cow herd increased MOM for the 13th time in the last 14 months in Jan ’15, with the number of milk cows on farms increasing by 9,000 head over the Dec ’14 revised figure. The total milk cow herd stands at 9,308,000 head, a six year high and 96,000 head more than January of last year. Milk per cow yield was up 1.0% YOY, increasing to a new January record of 1,895 lbs.