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Dairy Report
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Dairy- US milk production during June is estimated to have been 2.4% larger than a year ago due to a 3.7% increase in milk per cow yields and a 1.2% smaller milk cow herd. Dairy farmers did add a net eleven thousand head to the herd during June contributing to the forty thousand head increase for 2010 thus far. The June milk production increase over 2009 was the largest for any month in two years. Warm temperatures are intensifying the current seasonal downturn in milk output. Still, the upside risk in the cheese and butter markets from here may only be modest.

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Market Trend |
Supplies |
Price vs. Last Year |
Cheese Barrels- CME |
Increasing |
Good |
Higher |
Cheese 40 lb Blocks- CME |
Increasing |
Good |
Higher |
American Cheese |
Increasing |
Good |
Higher |
Cheddar Cheese |
Steady |
Good |
Higher |
Mozzarella Cheese |
Increasing |
Good |
Higher |
Provolone Cheese |
Increasing |
Good |
Higher |
Parmesan Cheese |
Increasing |
Good |
Higher |
Butter- One lb Solids |
Increasing |
Good |
Higher |
Nonfat Dry Milk |
Decreasing |
Good |
Higher |
Whey, Dry |
Decreasing |
Good |
Higher |
Class I Milk Base |
Steady |
Good |
Higher |
Class II Cream (Heavy Cream) |
Increasing |
Good |
Higher |
Class III Milk- CME |
Increasing |
Good |
Higher |
Class IV Milk- CME |
Increasing |
Good |
Higher |
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