Increased Global Milk Demand Impacting Prices
Bloomberg reports milk futures have jumped to an all-time high as U.S. dairy exports have reduced domestic supplies. The U.S. Dairy Export Council's latest data shows a 19-percent increase of milk powder, cheese, butterfat and whey shipped in January from last year. The Council says almost 15-percent of milk production went to exported goods - which is a 12-percent increase from last year - while cheese shipments increased 46-percent. The California drought plays a role in the increased global demand for U.S. dairy prices. This year alone - milk prices have increased 21-percent. Rice Dairy LLC Risk Management Adviser Aishwarya Deep Govil told Bloomberg exports of cheese and dry milk products have been strong - and demand has been stronger than the increase in milk production.
© 2014 Rural Radio Network. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information