U.S. Milk Production Update – Mar ’15
According to USDA, Feb ’15 U.S. milk production was up 1.7% YOY, at 16,170 million pounds, setting a new February production record. Production also increased MOM, up 1.4% on a daily average basis vs. Jan ’15 figures as production continues to build seasonally. The Jan ’15 seasonal build was lower than the ten year average January – February increase in production of 2.0%. 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 fifth consecutive month in Feb ’15 and remained at levels below the 2014 calendar year average YOY growth rate of 2.4%. YOY production gains on a percentage basis were led by South Dakota (+9.6%), Michigan (+7.8%) and Colorado (+7.6%). California milk production declined YOY for the third consecutive month, finishing 3.8% lower, while New Mexico production finished 3.7% 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 14th time in the last 15 months in Feb ’15, with the number of milk cows on farms increasing by 3,000 head over the Jan ’15 revised figure. The total milk cow herd stands at 9,312,000 head, a six year high and 100,000 head more than February of last year. Milk per cow yield was up 0.5% YOY, increasing to 1,736 lbs.