Dairy Market Report

Dairy Market Report
The key factors affecting the general dairy marketoutlook in recent months have been the slow unwinding of the previous expansion of milk and cheese production, increased domestic and export use of cheese and butter,and continued large stocks of these products.Cheese prices increased in August following a drop in July. The July U.S.average all-milk price remained unchanged from June at $17.30 per hundredweight.Cheese prices have been the most variable component of milk pricing recently,with butter prices likely peaking and nonfat dry milk and dry whey prices steadily easing down. Slower production growth and increased domestic commercial use and exports of American-type cheese have contended with record stock levels to establish the basic market tone for cheese prices.A moderate increase in the monthly USDA Margin Protection Program (MPP) feed cost formula calculation reduced the MPP monthly margin in July, but left it still above $9 per hundredweight.
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The Dairy Market Report is written and produced by the National Milk Producers Federation and sponsored by Dairy Management Inc. in Rosemont, Ill.

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