Last Friday, the May dairy production totals were released, and USDA says milk production went up again in May. Production nationwide rose 1.6 percent, and the 24 major producing states saw production rise 1.7 percent. That is after production increases in April where USDA revised the April production up one-tenth of a percent.
The 24 major dairy states produced 19.1 billion pounds of milk in May. Production per cow averaged 2,125 pounds in the major producing states, and 2,110 pounds nationwide. The number of milk cows in the U.S. last month was 9.45 million head, with 9 million of those in the 24 primary producing states. Milk production in California slipped 1.8 percent on the year, below expectations, despite an incre...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
