Spreadsheet: 0100dd8d-9804-468d-b788-dc671bd5f40e
Sheet: Sheet1

Dairy Forecasts | Unnamed: 1 | Unnamed: 2 | Unnamed: 3 | Unnamed: 4 | Unnamed: 5 | Unnamed: 6 | Unnamed: 7 | Unnamed: 8 | Unnamed: 9 | Unnamed: 10 | Unnamed: 11 | Unnamed: 12 | Unnamed: 13 | Unnamed: 14 | Unnamed: 15 | Unnamed: 16 | Unnamed: 17 | Unnamed: 18 | Unnamed: 19 | Unnamed: 20 | Unnamed: 21 | Unnamed: 22 | Unnamed: 23 | Unnamed: 24 | Unnamed: 25 | Unnamed: 26 | Unnamed: 27 | Unnamed: 28
 |  |  |  |  | 2011 |  |  |  |  |  |  |  |  |  | 2012 |  |  |  |  |  |  |  | 2013
 |  |  |  |  | III |  | IV |  | Annual |  | I |  | II |  | III |  | IV |  | Annual |  | I |  | II |  | III |  | Annual
Milk cows (thous.) |  |  |  |  | 9200 |  | 9216 |  | 9194 |  | 9254 |  | 9257 |  | 9215 |  | 9180 |  | 9225 |  | 9145 |  | 9135 |  | 9125 |  | 9125
Milk per cow (pounds) |  |  |  |  | 5292 |  | 5279 |  | 21346 |  | 5513 |  | 5562 |  | 5280 |  | 5280 |  | 21635 |  | 5430 |  | 5610 |  | 5425 |  | 21880
Milk production (bil. [NAME]) |  |  |  |  | 48.7 |  | 48.7 |  | 196.2 |  | 51 |  | 51.5 |  | 48.7 |  | 48.5 |  | 199.6 |  | 49.7 |  | 51.2 |  | 49.5 |  | 199.7
Farm use |  |  |  |  | 0.2 |  | 0.2 |  | 1 |  | 0.2 |  | 0.2 |  | 0.2 |  | 0.2 |  | 1 |  | 0.2 |  | 0.2 |  | 0.2 |  | 1
Milk marketings |  |  |  |  | 48.4 |  | 48.4 |  | 195.3 |  | 50.8 |  | 51.2 |  | 48.4 |  | 48.2 |  | 198.6 |  | 49.4 |  | 51 |  | 49.3 |  | 198.7
Milkfat (bil. [NAME] milk equiv.)
Milk marketings |  |  |  |  | 48.4 |  | 48.4 |  | 195.3 |  | 50.8 |  | 51.2 |  | 48.4 |  | 48.2 |  | 198.6 |  | 49.4 |  | 51 |  | 49.3 |  | 198.7
Beginning commercial stocks |  |  |  |  | 13.2 |  | 12.3 |  | 10.8 |  | 10.9 |  | 13.3 |  | 14.3 |  | 12.7 |  | 10.9 |  | 10.5 |  | 12.6 |  | 14.6 |  | 10.5
Imports |  |  |  |  | 0.8 |  | 1.2 |  | 3.5 |  | 0.9 |  | 0.9 |  | 0.9 |  | 1.1 |  | 3.8 |  | 0.9 |  | 0.9 |  | 0.9 |  | 3.8
Total supply |  |  |  |  | 62.4 |  | 62 | 209.6 | 209.6 |  | 62.5 |  | 65.4 |  | 63.7 |  | 62 |  | 213.4 |  | 60.8 |  | 64.5 |  | 64.8 |  | 213
Commercial exports |  |  |  |  | 2.2 |  | 2.1 |  | 9.4 |  | 2.2 |  | 2.8 |  | 2.4 |  | 2.2 |  | 9.6 |  | 2.2 |  | 2.3 |  | 2.3 |  | 8.9
Ending commercial stocks |  |  |  |  | 12.3 |  | 10.9 |  | 10.9 |  | 13.3 |  | 14.3 |  | 12.7 |  | 10.5 |  | 10.5 |  | 12.6 |  | 14.6 |  | 13.5 |  | 10.9
Net removals |  |  |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
Commercial use |  |  |  |  | 47.9 |  | 49 |  | 189.2 |  | 47.1 |  | 48.3 |  | 48.6 |  | 49.3 |  | 193.3 |  | 46 |  | 47.6 |  | 49 |  | 193.2
Skim solids (bil. [NAME] milk equiv.)
Milk marketings |  |  |  |  | 48.4 |  | 48.4 |  | 195.3 |  | 50.8 |  | 51.2 |  | 48.4 |  | 48.2 |  | 198.6 |  | 49.4 |  | 51 |  | 49.3 |  | 198.7
Beginning commercial stocks |  |  |  |  | 12.7 |  | 12.2 |  | 12.2 |  | 11.8 |  | 12.5 |  | 12.2 |  | 11.4 |  | 11.8 |  | 11.4 |  | 11.5 |  | 12 |  | 11.4
Imports |  |  |  |  | 1.3 |  | 1.4 |  | 5.3 |  | 1.4 |  | 1.4 |  | 1.5 |  | 1.6 |  | 5.9 |  | 1.4 |  | 1.3 |  | 1.3 |  | 5.4
Total supply |  |  |  |  | 62.4 |  | 62 |  | 212.7 |  | 64 | 64 | 65.2 |  | 62.1 |  | 61.2 |  | 216.3 |  | 62.2 |  | 63.8 |  | 62.6 |  | 215.5
Commercial exports |  |  |  |  | 8.3 |  | 8.2 |  | 32.5 |  | 8.3 |  | 9 |  | 8.3 |  | 7.9 |  | 33.5 |  | 8.1 |  | 8.2 |  | 8.2 |  | 32.5
Ending commercial stocks |  |  |  |  | 12.2 |  | 11.8 |  | 11.8 |  | 12.5 |  | 12.2 |  | 11.4 | 11.4 | 11.4 |  | 11.4 |  | 11.5 |  | 12 |  | 11.9 |  | 11.5
Net removals |  |  |  |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0 |  | 0
Commercial use |  |  |  |  | 41.9 |  | 42 |  | 168.3 |  | 43.2 |  | 44 |  | 42.4 |  | 41.9 |  | 171.4 |  | 42.5 |  | 43.6 |  | 42.4 |  | 171.4
Milk prices (dol./cwt) 1/
All milk |  |  |  |  | 21.67 |  | 20.07 |  | 20.14 |  | 17.97 |  | 16.4 |  | 18.03 |  | 21.65 |  | 18.5 |  | 20.5 |  | 18.85 |  | 18.25 |  | 19
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -22.05 |  | -18.6 |  | -21.2 |  | -19.85 |  | -19.25 |  | -19.9
Class III |  |  |  |  | 20.71 |  | 18.62 |  | 18.37 |  | 16.28 |  | 15.53 |  | 17.8 |  | 20.7 |  | 17.55 |  | 19.15 |  | 17.85 |  | 17.3 |  | 17.75
 |  |  |  |  |  |  |  |  |  | -17.5 |  |  |  |  |  |  | -21.1 |  | -17.65 |  | -19.85 |  | -18.85 |  | -18.3 |  | -18.65
Class IV |  |  |  |  | 20 |  | 17.72 |  | 19.04 |  | 15.94 |  | 13.86 |  | 15.87 |  | 18.45 |  | 16 |  | 17.5 |  | 16.5 |  | 16.45 |  | 16.75
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -18.95 |  | -16.2 |  | -18.3 |  | -17.6 |  | -17.55 |  | -17.75
Product prices (dol./pound) 2/
Cheddar cheese |  |  |  |  | 2.0412 |  | 1.799 |  | 1.825 |  | 1.559 |  | 1.547 |  | 1.773 |  | 2.015 |  | 1.725 |  | 1.865 |  | 1.75 |  | 1.69 |  | 1.735
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -2.055 |  | -1.735 |  | -1.935 |  | -1.85 |  | -1.79 |  | -1.825
Dry whey |  |  |  |  | 0.57 |  | 0.636 |  | 0.533 |  | 0.646 |  | 0.544 |  | 0.541 |  | 0.61 |  | 0.585 |  | 0.595 |  | 0.575 |  | 0.585 |  | 0.585
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -0.63 |  | -0.595 |  | -0.625 |  | -0.605 |  | -0.615 |  | -0.615 | -0.435
Butter |  |  |  |  | 2.03 |  | 1.728 |  | 1.95 |  | 1.499 |  | 1.409 |  | 1.684 |  | 1.89 |  | 1.615 |  | 1.75 |  | 1.635 |  | 1.555 |  | 1.625
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -1.96 |  | -1.645 |  | -1.85 |  | -1.765 |  | -1.685 |  | -1.745
Nonfat dry milk |  |  |  |  | 1.5779 |  | 1.461 |  | 1.506 |  | 1.368 |  | 1.17 |  | 1.269 |  | 1.46 |  | 1.31 |  | 1.42 |  | 1.365 |  | 1.395 |  | 1.39
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -1.5 |  | -1.33 |  | -1.48 |  | -1.435 |  | -1.465 |  | -1.46
[NAME] averages of monthly prices.  May not match reported annual averages. | [NAME] averages of monthly prices.  May not match reported annual averages.
2/ Simple averages of monthly prices calculated by the Agricultural Marketing Service for use in class price formulas.  'Based on weekly "Dairy Product Prices", | 2/ Simple averages of monthly prices calculated by the Agricultural Marketing Service for use in class price formulas.  'Based on weekly "Dairy Product Prices",
National Agricultural Statistics Service.
Source: World Agricultural Supply and Demand Estimates and supporting materials.
For further information, contact: [NAME] 5148, [EMAIL]
Published in Livestock, [NAME], and Poultry Outlook, http://www.ers.usda.gov/publications/ldpm-livestock,-dairy,-and-poultry-outlook.aspx
Updated 10/12/12