DAIRY MARKET NEWS PRICE SUMMARY FOR AUGUST 3 - 7, 2020 ... · 8/7/2020 · Dairy Graphs G1...

DAIRY MARKET NEWS WEEK OF AUGUST 3 - 7, 2020 VOLUME 87 REPORT 32

DAIRY MARKET NEWS AT A GLANCE

TABLE OF CONTENTS

Product Highlights/CME/DMN at a Glance 1 Weekly CME Cash Trading/Butter Markets 2 Cheese Markets 3 Fluid Milk and Cream 4 Nonfat Dry Milk/Dry Buttermilk/Dry Whole Milk 5

Dry Whey/WPC 34%/Lactose/Casein 6 U.S Dairy Cow Slaughter/Class Milk Prices/NDPSR/Futures 7 Organic Dairy Market News 8 July National and International Monthly Averages 9 June Agricultural Prices Highlights 12

June Dairy Products Highlights 13 July Final Class Prices by Order 14 Dairy Graphs G1 National Retail Report – Dairy Dairy Market News Contacts

CME GROUP CASH MARKETS (8/07) BUTTER: Grade AA closed at $1.5300. The weekly average for Grade AA is $1.5265 (-0.1150). CHEESE: Barrels closed at $1.5175 and 40# blocks at $1.7050. The weekly average for barrels is $1.7275 (-0.6575) and blocks, $1.8685 (-0.4890). NONFAT DRY MILK: Grade A closed at $0.9550. The weekly average for Grade A is $0.9585 (-0.0295). DRY WHEY: Extra grade dry whey closed at $0.3200. The weekly average for dry whey is $0.3240 (-0.0180). CHEESE HIGHLIGHTS: Food service pipelines showed signs of being somewhat fulfilled, as demand has ebbed in that sector. Additionally, cheese stock reports in the coastal regions are growing, while Midwestern contacts report mostly committed inventories. Milk is widely available, and cheese market participants do not expect this to turn soon. Midwestern spot milk prices ranged from $2 to $5 under Class. As such, cheese production is busy. Cheese market prices had a resolutely bearish week. That said, contacts say that U.S. cheese market tones are expected to be more competitive with international prices soon, at this rate. BUTTER HIGHLIGHTS: The butter market price caught some contacts by surprise, dropping into the low $1.40s early in the week. However, prices corrected back into the mid-$1.50s by Thursday. Undoubtedly, there is some uncertainty regarding butter market tones. Food service sales have fallen off. Seasonal demand, in general, is lackluster. A number of butter producers report simply churning for fall demand and/or governmental purchasing. There is plenty of cream for the churn, as multiples are falling in the 1.10s and 1.20s in the West and Midwest, respectively. That said, in the East, 1.30s multiples have butter makers clearing fewer spot cream loads. Western contacts relay print butter is tighter, while bulk butter is available. FLUID MILK: Milk outputs are stable to decreasing across the country. Warmer weather conditions in many parts of the U.S. are also more or less affecting milk volumes produced. In the Northeast, hurricane Isaias had caused some disruptions in power outages and milk transportation, but the problems are mostly resolved now. In the USA, farm milk supplies are generally available to meet buyers' needs, but loads are a bit tight for some mid-Atlantic operations as they ship to the Southeast. As several schools move to virtual learning, while others adopt hybrid curriculum, market participants are wondering how the milk market will be affected, especially Class I sales. With the decline in cheese production in the mountain states, handlers are moving more milk around the region. The cream market has weakened a bit. Cream intakes by ice cream manufacturers are steady to

declining. In the Midwest, butter manufacturers are churning more cream in preparation for the usual upticks in fall demands. Cream multiples for all Classes are 1.33-1.40 in the East, 1.23-1.39 in the Midwest, and 1.05 to 1.26 in the West. Condensed skim supplies are available, but at the moment several buyers are not taking spot loads in the East. DRY PRODUCTS: Low/medium heat NDM prices are lower. Buyers' intakes have increased as the result of lower prices in the West. Sales have decreased in the East. In the Central, demands from Mexico have also declined. Low/medium heat NDM inventories are up in the Central, but lighter in the East. High heat NDM prices are lower. Supplies are limited for spot sales in the East. In the West, drying time is scheduled based on contractual needs. The prices for Central and East dry buttermilk declined this week. Western prices moved higher on both the top of the range and the top of the mostly series. Trading activities are different from one region to another. Production is mixed in the East, but has risen in the Central. In the West, it is flat. Supplies are up in the Central, but mostly committed to contract fulfillments in the West. Dry whole milk prices have declined at both ends of the range. Stocks are more available, whereas sales are lower. The market tone is unsettled. Dry whey prices are mixed in the Central, but down at the top of the range in the West and Northeast. Inventories are abundant. Production is active. The dry whey market is a buyer's market. Animal feed whey prices are down at the bottom of the range. Lactose prices are steady on the range, but a bit down at the bottom of the mostly series. WPC 34% prices are lower. There is a lot of pressure on prices due to the abundance of dairy proteins in the marketplace. WPC 34% outputs have perked up due to weakness in WPC 80% and WPI markets. Except for brand specific WPC 34%, demands are mostly lackluster. Stocks and supplies are stable to up. Prices for casein are unchanged. Outputs are low in Western Europe, but New Zealand is not seasonally producing any casein until a month or two from now. ORGANIC DAIRY MARKET NEWS: The July 2020 in-store surveys of supermarkets in selected U.S. cities show that prices for organic whole milk in half gallon containers range from $3.14 in Houston, TX to $5.84 in Pittsburg, PA. Surveyed cities that experienced noteworthy jumps in prices were Philadelphia, PA. and New Orleans, LA., up 70 cents from June 2020 in both cities. While the majority of municipalities posted no change or increases in organic whole milk prices, Syracuse, NY price declined 50 cents, while

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Commodity Commodity CommodityNDM BUTTERMILK LACTOSE

Central Low/Med. Heat 0.9500 1.0200 0.9800 1.0000 Central/East 0.9200 1.0400 Central/West 0.4000 0.6300 0.4500 0.5800

Change N.C. -0.0200 -0.0100 -0.0250 Change -0.0300 -0.0100 Change N.C. N.C. -0.0100 N.C.

Central High Heat 1.0500 1.2100 West 0.8500 1.0200 0.9000 0.9500 WPC 34%

Change -0.0200 -0.0400 Change N.C. 0.0350 N.C. 0.0200 Central/West 0.7100 1.0550 0.7350 1.0050

West Low/Med. Heat 0.9200 1.0200 0.9500 1.0000 WHEY Change N.C. -0.0150 -0.0050 -0.0150

Change -0.0150 -0.0450 -0.0300 -0.0300 Central 0.2700 0.3400 0.2950 0.3300 CASEIN

West High Heat 1.0500 1.1800 Change 0.0200 -0.0200 N.C. -0.0050 Rennet 3.4975 3.7900

Change -0.0300 -0.0150 West 0.2850 0.3800 0.3200 0.3700 Change N.C. N.C.

DRY WHOLE MILK Change N.C. -0.0200 -0.0200 N.C. Acid 3.8000 3.9000

National 1.5200 1.8000 Northeast 0.3200 0.3800 Change N.C. N.C.

Change -0.0800 -0.0500 Change N.C. -0.0075 ANIMAL FEED WHEY

Central 0.2400 0.2700

Change -0.0100 N.C.

DAIRY MARKET NEWS PRICE SUMMARY FOR AUGUST 3 - 7, 2020PRICES ($/LB) & CHANGES FROM PREVIOUS PUBLISHED PRICES

Range Mostly Range Mostly Range Mostly

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organic milk retail price. The U.S. simple average price for July is $4.09, up 7 cents from the previous month. Overall, organic milk retail prices are steady to higher. The ad numbers for organic milk, gallon containers, strengthened 331 percent across the country. But, the larger volume of ads posted were for half gallon containers, nearly 4 times more than the gallon ad volume. Overall, organic milk retail ads grew 53 percent. The organic premium, the difference between the half gallon organic milk price, $4.11, and half gallon conventional milk price, $1.71, is $2.40 this period, an increase of 59 cents from the previous survey. NATIONAL RETAIL REPORT (DMN): Conventional retail ad numbers this week increased 18 percent. Organic retail ad numbers decreased 3 percent. The most advertised single category/size is 48-64 oz conventional ice cream. Ad numbers increased 28 percent from last week. The conventional cheese ad count was nearly even with last week. Ad numbers for 8 oz block increased 59 percent. The weighted average advertised price, $2.68, increased 17 cents. Conventional yogurt ads increased 27 percent. Ads for conventional 4-6 oz Greek yogurt more than doubled. The national weighted average advertised price for conventional milk in half gallons is $1.71, compared with $4.11 for organic milk half gallons. JUNE AGRICULTURAL PRICE HIGHLIGHTS (NASS): The All Milk price received by farmers was $18.10 in June, unchanged from June 2019. The alfalfa hay price was $179.00 in June, down $14.00 from June 2019. The corn price was $3.16 in June, down $0.82 from June 2019. The soybean price was $8.34 in June, up $0.03 from June 2019. The milk-feed price ratio was 2.36 in June, up 0.28 from June 2019. The index of prices received by farmers for dairy products during the month of June 2020 was up 22.3 to 90.0. Compared to June 2019, the index was unchanged (0.0 percent) percent. The index of prices paid by farmers for commodities and services, interest, taxes, and wage rates in June 2020 was up 0.3 point to 109.1. Compared with June 2019, the index was down 1.3 points (-1.2 percent). JUNE DAIRY PRODUCTS HIGHLIGHTS (NASS): Butter production was 150 million pounds, 3.1 percent below June 2019, and 15.7 percent below May 2020. American type cheese production totaled 438 million pounds, 2.5 percent above June 2019, but 0.9 percent below May 2020. Total cheese output (excluding cottage cheese) was 1.10 billion pounds, 3.5 percent above June 2019, and 0.3 percent above May 2020. Nonfat dry milk production, for human food, totaled 147 million pounds, 7.1 percent below June 2019, and 7.5 percent below May 2020. Dry whey production, for human food, was 84 million pounds, 2.9 percent above June 2019, but 1.6 percent below May 2020. Ice cream, regular hard production, totaled 71.2 million gallons, 9.7 percent above June 2019, and 11.1 percent above May 2020. JULY FINAL CLASS PRICES (FMMO): The following are the July 2020 class prices under the Federal milk order pricing system and changes from the previous month: Class II: $13.79 ($+0.80), Class III: $24.54 ($+3.50), and Class IV: $13.76 ($+0.86). Under the Federal milk order pricing system, the butterfat price for July 2020 is $1.9583 per pound. Thus, the Class II butterfat price is $1.9653 per pound. The protein and other solids prices for July 2020 are $5.6294 and $0.1492 per pound, respectively. These component prices set the Class III skim milk price at $18.33 per cwt. The July 2020 Class IV skim milk price is $7.16, which is derived from the nonfat solids price of $0.7959 per pound. The product price averages for July 2020 are butter $1.7886, nonfat dry milk $0.9717, cheese $2.5873, and dry whey $0.3440.

NOTICE: THE U.S. DEPARTMENT OF AGRICULTURE (USDA) ANNOUNCED IT WILL ACCEPT APPLICATIONS THROUGH MARCH 31, 2021, FOR PARTICIPATION IN THE MILK DONATION REIMBURSEMENT PROGRAM DURING FISCAL YEAR 2021 (FY21). Interested partnerships must apply for FY21 program participation by submitting a completed Milk Donation and Distribution Plan no later than March 31, 2021. Applications submitted for FY21 can reflect fluid milk product donations made or anticipated to be made from Oct. 1, 2020, through Sept. 30, 2021. A partnership may submit documentation for retroactive reimbursement of eligible expenses after its application has been approved by USDA. Details about program eligibility and participation are available at www.ams.usda.gov/mdrp. An eligible dairy organization is a dairy farmer, either individually or as part of a cooperative, or a dairy processor that incurs qualified expenses to a Federal Milk Marketing Order pool for fluid milk product donations. Program reimbursements offset a portion of the raw milk cost for milk donated to food assistance programs. Congress directed USDA to develop the program to reduce food waste and provide nutrition assistance to low-income individuals and has authorized $5 million for the program in FY21. USDA is continuing to accept applications through Oct. 30, 2020, for participation in the Milk Donation Reimbursement Program for fiscal years 2019 and 2020.

WEEK OF AUGUST 3 - 7, 2020 DAIRY MARKET NEWS VOLUME 87, REPORT 32

DAIRY MARKET NEWS AT A GLANCE

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DAIRY MARKET NEWS, AUGUST 3 - 7, 2020 -2- VOLUME 87, REPORT 32

NORTHEAST This week, chatter revolves around the summer fall in wholesale spot butter prices. Last week, the spot butter price saw a notable drop, $0.1225 for the week. Bearish sentiments continue this week, with spot butter prices tumbling $0.1550 on Tuesday. Amidst the limited seasonal interest for retail butter and lackluster foodservice demand, butter prices are weaker, whereas stocks are increasingly healthy. Foodservice sales have fallen 50 percent for some manufacturers and sources reason that the volume of lost foodservice sales appear too hefty to recover. Meanwhile, retail butter sales are a notch higher this week. Production wise, churn schedules in the East butter market mirror last week’s, as milk supply levels are nearly unchanged. June 2020 year-over-year butter production, in the Atlantic region, was lower compared to June the previous year. Cream markets rebounded with a surge in demand this week, which has driven multiples up into the high 1.30s and suggests less available cream for churning. Bulk butter ranges 2 to 6 cents over the market of the CME Group, with various time frames and averages used. The market undertone is weaker. CME MONTHLY AVERAGE PRICE The CME Group July 2020 monthly average price for AA butter, $1.6925, is down from the previous month’s average of $1.8291. One year ago, the CME Group monthly average was $2.3897. Prices for: Eastern U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0200 - +0.0600 Secondary Sourced Information: CME TRADING CME Group’s Tuesday spot butter trading ended at $1.4250, down from $1.7100 a week ago. EXPORT ASSISTANCE This week, a cooperative export assistance program accepted requests for export assistance to sell 41,888 pounds (19 metric tons) of butter.

CENTRAL Butter plant managers and other contacts are notably concerned about current market bears. Some contacts expected butter market prices in the high $1.60s and/or $1.70s was the butter market price basement. Tuesday, after a $.1550 drop, butter market prices slipped into the low $1.40s. Butter

producers say both retail and food service demand has edged back somewhat. Now, they are focusing on governmental contract purchases and producing for the fall demand season; churning remains busy. Although cream availability is reportedly not as ample as last week, current multiples are landing at similar points to last week. Prices for: Central U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: +0.0200 - +0.0700 Secondary Sourced Information: The CME Group July monthly average price for Grade AA butter was $1.6925, compared to $1.8291 in June.

WEST

Western butter markets remain unsettled. In some cases, buyers are holding off on purchases, waiting to see if the cash markets post lower prices for the next week. A few butter makers say this makes it difficult to plan production cycles for the week. Butter production is steady overall, but manufacturers are trying to find the right balance between the types and packaging of butter produced. Cream is more readily available. Ice cream and other Class II cream products have slowed their seasonal production runs, freeing up the cream for the churns. The reinstatement of some COVID-19 restrictions in a few western states has muted the already slow food service business. While seasonal vegetable processing is starting to increase, overall bulk butter demand is weak. Retail sales continue to surpass sales volumes of previous years, but it is not enough to make up the difference of lost bulk butter sales. Butter stocks are heavy on bulk butter holdings and print butter supplies are tight. Prices for: Western U.S., All First Sales, F.O.B., Grade AA, Conventional, and Edible Butter Bulk Basis Pricing - 80% Butterfat $/LB: 0.0000 - +0.0600 CME GROUP MONTHLY AVERAGES The CME Group July 2020 monthly average price for AA butter is $1.6925, compared to the June 2020 monthly average of $1.8291. One year ago, the CME Group monthly average was $2.3897.

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BUTTER MARKETS

NOTICE: Five days of trading information can be found at www.cmegroup.com/trading/agricultural/spot-call-data.html

Prices shown are in U.S. dollars per lb. in carlot quantities. Carlot unit weights: CHEESE, 40,000-44,000 lbs.; NONFAT DRY MILK, 41,000-45,000 lbs.; BUTTER, 40,000-43,000 lbs.;DRY WHEY, 41,000-45,000 lbs. Weekly Change is the sum of Daily Price Changes. Weekly Average is the simple average of the Daily Cash Close prices for the calendar week. Weekly Average Change is the difference between current and previous Weekly Average. Computed by Dairy Market News for informational purposes. This data is available on the Internet at WWW.AMS.USDA.GOV/MARKET-NEWS/DAIRY

CME Group, CHICAGO, IL

COMMODITY MONDAY AUG 3

TUESDAY AUG 4

WEDNESDAY AUG 5

THURSDAY AUG 6

FRIDAY AUG 7

:: WEEKLY CHANGE

:: WEEKLY AVERAGE

CHEESE

BARRELS $2.0200 (-0.2150)

$1.8150 (-0.2050)

$1.6425 (-0.1725)

$1.6425 (N.C.)

$1.5175 (-0.1250)

:: ::

(-0.7175)

:: ::

$1.7275 (-0.6575)

40 POUND BLOCKS $2.0775 (-0.1750)

$1.9300 (-0.1475)

$1.8150 (-0.1150)

$1.8150 (N.C.)

$1.7050 (-0.1100)

:: ::

(-0.5475)

:: ::

$1.8685 (-0.4890)

NONFAT DRY MILK

GRADE A $0.9650 (-0.0125)

$0.9450 (-0.0200)

$0.9725 (+0.0275)

$0.9550 (-0.0175)

$0.9550 (N.C.)

:: ::

(-0.0225)

:: ::

$0.9585 (-0.0295)

BUTTER

GRADE AA $1.5800 (-0.0275)

$1.4250 (-0.1550)

$1.5400 (+0.1150)

$1.5575 (+0.0175)

$1.5300 (-0.0275)

:: ::

(-0.0775)

:: ::

$1.5265 (-0.1150)

DRY WHEY

EXTRA GRADE $0.3300 (-0.0125)

$0.3300 (N.C.)

$0.3200 (-0.0100)

$0.3200 (N.C.)

$0.3200 (N.C.)

:: ::

(-0.0225)

:: ::

$0.3240 (-0.0180)


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CME CLOSING PRICE The Grade AA butter price at the CME Group on Wednesday closed at $1.5400, compared to the weekly average price of $1.6415 from last week. EXPORT ASSISTANCE This week, a cooperative export assistance program accepted requests for 41,888 pounds (19 metric tons) of butter and 1.157 million pounds (525 metric tons) of anhydrous milkfat. So far this year, the program has assisted member cooperatives who have contracts to sell 6.288 million pounds of butter (82% milkfat) and 3.117 million pounds of anhydrous milkfat in export markets. When combined with other dairy products, the program has assisted members with sales of 694.6 million pounds of milk on a milkfat basis.

DAIRY PRODUCTS REPORT – BUTTER SUMMARY Released August 4, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). Butter Production – States and United States: June 2019 and 2020 Monthly Production (1000 pounds) Percent Change from June May June June May Region 2019 2020 2020 2019 2020 United States 154,848 177,966 150,018 -3.1 -15.7 Atlantic 14,824 16,370 14,335 -3.3 -12.4 Central 59,583 68,235 54,912 -7.8 -19.5 West 80,441 93,361 80,771 0.4 -13.5 California 45,524 55,557 49,225 8.1 -11.4 Butter Production – Cumulative Production January - June Cumulative Production Percent Change (1000 pounds) from Report Month 2019 2020 2019 June 1,049,166 1,122,858 7.0 COLD STORAGE – BUTTER SUMMARY Released July 22, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA). 6/30/20 Stocks in all Warehouses (1,000 pounds) as a percent of 6/30/19 5/31/20 6/30/20 6/30/19 5/31/20 Butter Stocks 326,297 375,777 361,643 111 96

DAIRY MARKET NEWS, AUGUST 3 - 7, 2020 VOLUME 87, REPORT 32

CHEESE MARKETS

NORTHEAST

Cheese demands from the foodservice sector are slowing in the East. Some restauranteurs and retailers have pulled back on ordering. CME Group cheese block and barrel prices are tumbling downwards. Man-ufacturers are preparing for a decrease in demand from educational institutions. Cheese makers are receiving adequate milk volumes for strong cheese production schedules. Supplies are available and some inventory levels are growing for spot/contract needs. There are many uncertainties in the market. Industry contacts are waiting to see how the end of the week plays out for the cheese markets. The DMN Northeast July 2020 monthly average price for cheddar blocks is $3.3030, compared to $3.0335 one month ago. Processed 5# sliced average price is $2.7499, compared to $2.5797 one month ago.

WHOLESALE SELLING PRICES: DELIVERED DOLLARS PER POUND(MIXED LOTS (1000-5000 POUNDS)

Cheddar 40 pound Block 2.8075-3.0950 Muenster 2.7950-3.1450 Process American 5 pound Sliced 2.4875-2.9675 Swiss 10-14 pound Cuts 2.9000-3.2225

MIDWEST

In the midst of market price declines, some Midwestern cheesemak-ers remain busy producing cheese. In fact, some have said that mar-ket prices, currently in a downward spiral, may prompt some buyers to return. That said, other contacts question whether demand will return as strong, as some food service customers have refilled their pipelines, while questions remain about schools and restaurant re-turns during the current state of the country related to COVID-19. All said, though, current demand remains steady. Milk is widely availa-ble regionally, as farm milk production is steady to stronger and milk is being dispersed amid multiple plant disruptions/closures. Regional cheese availability is mostly committed.

WISCONSIN WHOLESALE SELLING PRICES: DELIVERED DOLLARS PER POUND(MIXED LOTS (1000-5000 POUNDS))

Blue 5 pounds 2.9900-4.0600 Brick 5 pounds 2.7225-3.1475 Cheddar 40 pound Block 2.4450-2.8450 Monterey Jack 10 pounds 2.6975-2.9025 Mozzarella 5-6 pounds 2.5225-3.4675 Muenster 5 pounds 2.7225-3.1475 Process American 5 pound Loaf 2.4725-2.8325 Swiss 6-9 pound Cuts 2.4150-2.5325

WEST The western cheese market has weakened in view of rising corona-virus cases. Cheese intakes by the food service industry have de-clined in recent weeks as some states have stopped their reopening processes, whereas others have reclosed. Meanwhile, interests from the retail sector are higher. Export demands are steady. Cheese pro-duction is active. Prices have been falling due to increasing supplies and sales trending down. With the decrease in the value of the U.S. dollar compared to the euro, coupled with declining cheese prices, the U.S. cheese prices will soon be competitive in the international market again. In the West, wholesale prices are down $.0675 for process, and down $.2575 for cheddar block, cuts and Monterey Jack. Swiss cut wholesale prices are unchanged from the previous week. Contacts indicate a lot of uncertainties remain regarding the future of the cheese market.

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WHOLESALE SELLING PRICES: DELIVERED DOLLARS PER POUND(MIXED LOTS (1000-5000 POUNDS))

Cheddar 10 pound Cuts 2.6825-2.8825 Cheddar 40 pound Block 2.4350-2.9250 Monterey Jack 10 pounds 2.6700-2.9450 Process American 5 pound Loaf 2.4900-2.7450 Swiss 6-9 pound Cuts 2.4975-2.9275

FOREIGN TYPE

In the European Union, sliced cheese supplies and demands are in good balance. The easing of COVID-19 protective measures is help-ing revive the food service demands for cheese. However, their de-mands are still lower compared to last year. Retail orders remain strong. Generally, export sales are inconsistent. Despite fluctuations in sliced cheese intakes from one southern European country to another, the region’s overall orders are active. Contractual loads of sliced cheese are also moving steadily to other non-European countries. Sliced cheese inventories are low, and in some cases, they are not enough to meet the needs of buyers. There are still ongoing negotia-tions for August deliveries. Although current prices are stable, sellers are asking higher prices during negotiations. Sliced cheese production is steady.

WHOLESALE SELLING PRICES: FOB DISTRIBUTORS DOCK DOLLARS PER POUND (1000 - 5000 POUNDS, MIXED LOTS)

: NEW YORK VARIETY : IMPORTED : DOMESTIC : : Blue : 2.6400-5.2300 : 2.8675-4.3550* Gorgonzola : 3.6900-5.7400 : 3.3750-4.0925* Parmesan : -0- : 4.2550-6.3450* Romano : -0- : 4.0575-6.2125* Sardo Romano (Argentina) : 2.8500-4.7800 : -0- Reggianito (Argentina) : 3.2900-4.7800 : -0- Jarlsberg : 2.9500-6.4500 : -0- Swiss : -0- : 2.9375-3.2600 Swiss (Finland) : 2.6700-2.9300 : -0- * = Price change.

COLD STORAGE

WEEKLY COLD STORAGE HOLDINGS - SELECTED STORAGE CENTERS IN THOUSAND POUNDS - INCLUDING GOVERNMENT STOCKS

: BUTTER CHEESE 08/03/2020 : 80679 : 78958 08/01/2020 : 80680 : 78958 CHANGE : -1 : 0 % CHANGE : 0 : 0

Secondary Sourced Information: The CME Group July 2020 monthly average price for barrels was $2.4080, compared to $2.3376 a month ago; blocks’ average price was $2.6466, up from $2.5620 a month ago. This week, a cooperative export assistance program accepted requests for export assistance to sell 94,799 pounds (43 metric tons) of cheese and 597,453 pounds (271 metric tons) of cream cheese.

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CHEESE MARKETS

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2020 U.S. CHEESE AND CURD IMPORTS (USDA-FAS)

(Imports for Consumption) 2020 Imports % Change From June Imports (Million Lb.) 1 Year Ago TOTAL Cheese and Curd (H.S. Code 0406) 24.0 - 18 Cheese, Except Fresh (H.S. Code 040690) 20.6 - 19 Fresh Cheese (H.S. Code 040610) 1.9 - 6 Cheese, Processed (H.S. Code 040630) 1.2 + 17 Cheese, Blue-Veined (H.S. Code 040640) 0.3 - 50 2020 Imports % Change From (Million Lb.) 1 Year Ago TOTAL, JAN-JUN 163.1 - 8 Imports - Country of Origin 1 Italy 30.7 - 23 2 France 18.4 - 16 3 Netherlands 15.6 + 16 4 Switzerland 9.7 + 11 5 Spain 9.4 - 19

2020 U.S. CHEESE AND CURD EXPORTS (USDA-FAS) 2020 Exports % Change From (Million Lb.) 1 Year Ago June 84.7 + 28 TOTAL, JAN-JUN 425.6 ... Exports – Destination Country 1 Mexico 115.4 + 14 2 South Korea 85.2 ... 3 Japan 44.9 - 9 4 Australia 30.9 + 28 5 Chile 12.8 + 5

Dairy Products Report – Cheese Summary

Released August 4, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Cheese Production – United States: June 2019 and 2020

Monthly Production (1000 pounds) Percent Change from Total Cheese 1

June May June June May Region 2019 2020 2020 2019 2020

United States 1,067,702 1,101,005 1,104,659 3.5 0.3

Atlantic 126,290 133,706 128,506 1.8 -3.9

Central 493,352 509,525 516,155 4.6 1.3

West 448,060 457,774 459,998 2.7 0.5

Monthly Production (1000 pounds) Percent Change from

American Cheese 2 June May June June May Region 2019 2020 2020 2019 2020

United States 427,638 442,282 438,248 2.5 -0.9

Atlantic 28,208 28,382 28,157 -0.2 -0.8

Central 213,321 221,418 222,138 4.1 0.3

West 186,109 192,482 187,953 1.0 -2.4


Italian Cheese June May June June May Region 2019 2020 2020 2019 2020

United States 461,688 480,614 475,313 3.0 -1.1

Atlantic 57,133 60,716 56,433 -1.2 -7.1

Central 186,168 196,143 192,056 3.2 -2.1

West 218,387 223,755 226,824 3.9 1.4

Cheese Production – Cumulative Production January - June

Cumulative Production Percent Change (1000 pounds) from Cheese Type 2019 2020 2019 Total Cheese 1

6,501,285 6,535,632 0.5

American 2,595,659 2,633,688 1.5 Italian Cheese 2,828,588 2,827,448 -

1/ Excludes cottage cheese.

2/ Includes cheddar, colby, washed curd, stirred curd, Monterey and jack.


Hurricane Isaias caused a stir in the dairy industry with milk transportation delays and power outages in storage facilities in the Northeast region. Now, there are less reports of current transportation or power outage disruptions. Milk is available in the area for manufacturers. Balancing operations are running on full production schedules. Class I sales have increased this week. Market participants note uncertainty in some dairy markets. Mid-Atlantic milk loads are tight for some operations. Some milk loads are traveling to the Southeast for Class I needs. There are reports retailers’ milk sales picked up this week, with customers purchasing milk ahead of the hurricane. Milk production in the Southeast is down. Class I is clearing the majority of available milk. Some operations continue to receive milk from other regions. The weather is hot in the Southern region, with tropical storm/hurricane seasons starting to get active. Florida milk output has about bottomed out. Bottlers’ sales are currently flat. Schools are opening next week, but there is a combination of in class and at home schooling. Market participants are wondering how this will change the milk demand. Cream demands are fairly steady this week. A few manufacturers are purchasing additional cream loads. Butter plants are churning for fall inventory. Condensed skim markets are steady. There are available offers on the market, however some buyers are not purchasing spot loads.

compared to $2.5839 a month ago. The DMN July monthly average for Northeast Class II condensed skim was $0.8500, compared to $0.8273 a month ago. Northeastern U.S., F.O.B. Condensed Skim Price Range - Class II; $/LB Solids: 0.70 - 1.00 Price Range - Class III; $/LB Solids: 0.65 - 0.90 Northeastern U.S., F.O.B. Cream Multiples Range - All Classes: 1.3300 - 1.4000 Price Range - Class II; $/LB Butterfat: 2.1832 - 2.2981

MIDWEST

As drops in milk have been reported most weeks this summer, the scale is starting to lean toward steadiness regarding milk output. Temperatures, at least in the morning, are in line with improved cow comfort. Bottlers continue to say demand is lackluster. Some regional Class I contacts say that their Eastern region counterparts are providing positive reports on early school orders. A number of questions remain unanswered regarding school openings and schedules. Cheesemakers say there is plenty of milk available. Spot milk prices were similar to last week, wholly discounted. Cheesemakers, despite market uncertainty, continue actively producing cheese. Cream was also at similar multiples to last week. Butter makers are clearing lots of cream, as they churn for the fall demand peaks. Ice cream production has lost some steam, as a number of contacts suggest ice cream manufacturing is nearing the end of its summer run. Both corn and soybean farmers are sharing a much different story than in the past few years. This year's weather has been nearly ideal, some farmers say, as they report corn and beans are in good shape. At this point, they are hoping for continued atmospheric cooperation ahead of and during harvest. Last year presented farmers with both a wet planting season and a wet harvest season. The DMN monthly average of the range price series for Upper Midwest Class II cream during July was $2.3992, compared to $2.5417 in June.

Price Range - Class III Milk; $/CWT; Spot Basis: -5.00 - -2.00 Trade Activity: Slow

Midwestern U.S., F.O.B. Cream Multiples Range - All Classes: 1.2300 - 1.3900 Price Range - Class II; $/LB Butterfat: 2.1996 - 2.2817 Multiples Range - Class II: 1.3400 - 1.3900

WEST

Milk supplies remain balanced in California. Production is seasonally low, but is sufficient to meet immediate needs. As schools in some areas shift to virtual learning, market participants anticipate that Class I requests from schools will be lower this school year. Currently, bottled milk demands are unchanged from last week. Arizona milk production continues to drop, partly due to record high temperatures in some parts of the state. There were also monsoon rains in some areas. Milk component levels continue to decline. Milk supplies are in good equilibrium with requests, but there are no additional loads to fulfill unscheduled needs. Bottled milk intakes are flat, whereas Class II sales are slightly down. Balancing needs are a bit lower as well. In New Mexico, milk yield is unchanged from last week. Class I and II demands are steady. Class III sales remain strong. Repair and maintenance projects are still ongoing at a few plants, but they are not much impacting milk processing schedules. As part of the plan to reduce the spread of COVID-19, New Mexico elementary schools are going virtual this semester. This move will likely impact how milk is distributed in the state. Milk production in the Pacific Northwest is steady to lower. While seasonal weather is keeping the milk flowing along the coast, some higher temperatures farther inland pushed intakes lower. Industry contacts say cream supplies are adequate for most needs. Spot cream loads are more available than in previous weeks. In the mountain states of Idaho, Utah, and Colorado, milk supplies are more available. While higher temperatures may have suppressed some milk production, contacts think the impact has been minimal due to the ability of cows to recharge during the cooler nights and farmers managing cow comfort with fans and misters. Lower cheese prices are prompting a few manufacturers to not push as hard on cheese production. As a result, milk handlers are moving more milk around the region. Some discounted loads of $4 under Class IV are available. In the West, condensed skim demands have declined. Some processors have stopped buying additional loads. Supplies are plentiful. Western cream sales have softened. Ice cream buyers are taking less loads compared to a few weeks ago. According to some industry players, cream supplies in Mexico have tightened a bit. As the result, some Mexican customers are inquiring about U.S. cream, but they haven't bought much yet. Western cream multiples are down on both ends of the range. Western U.S., F.O.B. Cream Multiples Range - All Classes: 1.0500 – 1.2600


-4-

EAST

FLUID MILK AND CREAM



-4A-

Dairy Products Report - Ice Cream, Regular, Hard

Released August 4, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agri-

culture (USDA).

Ice Cream, Regular (Hard) Production – States and United States: June 2019 and 2020

Monthly Production (1000 lbs) Percent Change from

June May June June May

Region 2019 2020 2020 2019 2020

United States 64,920 64,092 71,234 9.7 11.1

Atlantic 13,152 13,936 14,894 13.2 6.9

Pennsylvania 3,426 3,273 3,528 3.0 7.8

Central 40,846 39,060 43,395 6.2 11.1

Missouri 3,337 2,714 2,877 -13.8 6

Ohio 2,450 2,781 2,885 17.8 3.7

West 10,922 11,096 12,945 18.5 16.7

California 5,521 5,933 7,094 28.5 19.6

Oregon 1,242 1,061 1,582 27.4 49.1

Utah 2,050 1,915 2,265 10.5 18.3

Ice Cream, Regular (Hard) – Cumulative Production: January - June

Cumulative Production Percent Change

(1000 lbs) from

Report Month 2019 2020 2019

June 369,405 366,733 -0.7


NONFAT DRY MILK, BUTTERMILK & WHOLE MILK

Prices represent carlot/trucklot quantities for domestic and export sales packaged in 25 kg. or 50 lb. bags, or totes, spray process, dollars per pound.

NONFAT DRY MILK - CENTRAL AND EAST

CENTRAL: Low/medium heat nonfat dry milk (NDM) prices slipped on the mostly series and the top of the price range. Condensed skim is, and has been, more available in recent weeks/months. End users say offers of NDM have increased. Some buyers are opting for whey protein concentrate 34%, which has become more available at below $.80 regionally and nationwide. Contacts suggest Mexican buyers are stepping back, as well. High heat NDM prices slipped, after a big gain on the top end last week. Some contacts expect the higher prices on high heat NDM to begin to mirror low/medium heat NDM. In general, NDM markets are mostly bearish. EAST: Low/medium heat nonfat dry milk (NDM) prices are steady on the bottom of the price range, however prices are lower on the top of the range and both sides of the mostly series. It is the start to August and Hurricane Isaias swept into parts of the East and disrupted transportation routes and caused power outages. Some traders’ storage outlets were shut down due to the hurricane. Now, there are fewer reports of transportation and power outage issues. NDM spot trading activities are lighter, but with lower prices some buyers potentially will purchase on the spot market. Class I operations are receiving most available milk loads right now. Low/medium heat NDM production schedules are lower, as milk is moving to other parts of the region(s). There are reports inventory levels are lighter and some manufacturers are not able to offer any additional loads. High heat nonfat dry milk prices are down compared to last week. A few operations are scheduling drying time for spot/contract requests. Inventories are fairly tight outside of committed orders. The DMN monthly average price of the range series for the Central and East low/medium heat NDM during July 2020 was $1.0203, compared to $1.0094 the previous month. The July 2020 monthly average price of the range series for Central and East high heat NDM was $1.1509 compared to $1.1207 the previous month. Prices for: Eastern and Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Nonfat Dry Milk Price Range - Low & Medium Heat; $/LB: .9500 - 1.0200 Mostly Range - Low & Medium Heat; $/LB: .9800 - 1.0000 Prices for: Eastern and Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Nonfat Dry Milk Price Range - High Heat; $/LB: 1.0500 - 1.2100

NONFAT DRY MILK - WEST

Low/medium heat nonfat dry milk prices are lower in the West this week. Market conditions are unsettled. Market participants note with lower prices, buyers’ interests are higher. Production and supplies are stable. Cheese processors are clearing low/medium heat nonfat dry milk for fortification. Export sales are also steady, with healthy interests from Mexico. High heat nonfat dry milk prices slid downward. Buyers’ demands are mostly unchanged. Industry contacts are preparing for the fall baking season. Drying time is scheduled towards committed contracts. Manufacturers’ inventory levels are tight. The DMN monthly average price of the range series for the West low/medium heat NDM during July 2020 was $1.0148, compared to $0.9924 the previous month. The July 2020 monthly average price of the range series for West high heat NDM was $1.1455 compared to $1.1450 the previous month.

Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Nonfat Dry Milk Price Range - Low & Medium Heat; $/LB: .9200 - 1.0200 Mostly Range - Low & Medium Heat; $/LB: .9500 - 1.0000 Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Nonfat Dry Milk Price Range - High Heat; $/LB: 1.0500 - 1.1800


-5-

Dairy Products Report – Nonfat Dry Milk, Human Summary

Released August, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Nonfat Dry Milk, Human Production – States & United States:

June 2019 and 2020



Region 2019 2020 2020 2019 2020

United States 157,948 158,591 146,689 -7.1 -7.5

Atlantic 34,879 31,373 29,514 -15.4 -5.9 Pennsylva-

nia 16,344 16,434 13,996 -14.4 -14.8

Central 33,458 34,077 37,545 12.2 10.2

West 89,611 93,141 79,630 -11.1 -14.5

California 44,623 57,791 48,147 7.9 -16.7

Other States 96,981 84,366 84,546 -12.8 0.2 1/ States not shown when fewer than 3 plants reported or individual plant operations could be disclosed.

Nonfat Dry Milk, Human Production – Cumulative Production: January - June

Cumulative Production Percent Change

(1000 pounds) from

Report 2019 2020 2019

June 991,898 1,008,215 1.6

Manufacturers' stocks end-of-month 3/

End of month stocks (1000 pounds) Percent Change from


Product 2019 2020 2020 2019 2020

Nonfat dry milk, human 291,181 345,716 289,048 -0.7 -16.4

3/ Stocks held by manufacturers at all points and in transit.

Manufacturers' shipments 4/


Product 2019 2020 2020 2019 2020

Nonfat dry milk, human 141,846 204,717 198,197 39.7 -3.2

4/ For dry products, shipments of bulk goods.


NONFAT DRY MILK, BUTTERMILK & WHOLE MILK

Prices represent carlot/trucklot quantities for domestic and export sales packaged in 25 kg. or 50 lb. bags, or totes, spray process, dollars per pound.

-5A-


U.S. NDM Exports, H.S. Code 0402100000(FAS) 2020 Exports % Change From (Million Lb.) 1 Year Ago JUNE Total 167.2 + 77 TOTAL, JAN - JUNE 902.3 + 25 1 Mexico 299.5 - 16 2 Philippines 120.1 + 48 3 Indonesia 117.9 + 83 4 Vietnam 69.2 + 12 5 Malaysia 53.7 + 206

DRY BUTTERMILK - CENTRAL AND EAST CENTRAL: Dry buttermilk prices slid on the bottom and top of the range. Dry buttermilk trading was comparable with last week, if not slightly busier. Contacts relay that condensed buttermilk trading was somewhat busier, as well. With more cream entering churns, availability of buttermilk, whether condensed or dried, has increased in the past week. Some end users report dry buttermilk offers are still somewhat sparse, but others are finding loads at lower prices week to week. Nonfat dry milk remains the focus of dryers, but more buttermilk is entering the fray. As with other dairy powders, the buttermilk market tone is somewhat shaky. EAST: Dry buttermilk prices slid lower in the East region on light trading activity. Buyer spot demands are currently light. Manufacturers’ production schedules are mixed. Some dryers are picking up speed for contracted needs, while other operations’ dryer schedules are intermittent. Ice cream plants continue to receive steady amounts of condensed buttermilk. Dry buttermilk market conditions are softer. The DMN monthly average of the range price series for Central and East dry buttermilk during July was $1.0113, compared to $0.9774 a month ago. Prices for: Eastern and Central U.S., All First Sales, F.O.B., Conventional, and Edible Buttermilk Price Range ; $/LB: .9200 - 1.0400

DRY BUTTERMILK - WEST Dry buttermilk prices are steady on the bottom of both the range and mostly series, yet prices are a bit higher at the top of the range and top of the mostly series. Some industry contacts report prices are potentially aligning towards NDM pricing. Market conditions are mixed. Trading activity is steady to moderate. Bakery and confectionary demands are stable. Dry buttermilk production schedules are steady. The majority of manufacturers’ supplies are committed to Q3 and Q4 contracted orders. The DMN monthly average of the range price series for West dry buttermilk during July was $0.9261, compared to $ 0.9222 a month ago. Prices for: Western U.S., All First Sales, F.O.B., Conventional, and Edible Buttermilk Price Range ; $/LB: .8500 - 1.0200 Mostly Range - ; $/LB: .9000 - 0.9500

DRY WHOLE MILK - U.S. Regionally variant dry whole milk availability led to some buyers finding loads in the Midwest at points lower than last week's range. Prices at the top of the range slipped, as well. Nationally, dairy powders are experiencing a generally bearish week, and dry whole milk was no exception. Although nonfat dry milk remains the focus of dryers, spot availability of dry whole milk has begun to increase. Spot trading activity was slower, in general. The dry whole milk market tone is unsteady. The DMN average monthly price for dry whole milk in July was $1.6978, compared to $1.6909 in June. Prices for: U.S., All First Sales, F.O.B., Conventional, and Edible Dry Whole Milk Price Range - 26% Butterfat; $/LB: 1.5200 - 1.8000

Dairy Products Report – Dry Buttermilk Summary

Released August 4, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Dry Buttermilk – United States: June 2019 and 2020



Region 2019 2020 2020 2019 2020

United 8,354 12,072 9,008 7.8 -25.4

Manufacturers' stocks end-of-month 3/

End of month stocks (1000 pounds) Percent Change from


Product 2019 2020 2020 2019 2019

Dry butter- 14,026 24,633 24,178 72.4 -1.8

3/ Stocks held by manufacturers at all points and in transit.


WHEY, WPC 34%, LACTOSE & CASEIN Prices represent carlot/trucklot quantities for domestic and export sales packaged in 25 kg. or 50 lb. bags, or totes, spray process, dollars per pound.

DRY WHEY- CENTRAL

Dry whey prices were mixed on the range, while the top of the mostly series slipped by half a cent. End users say offers are aplenty in recent weeks. With plenty of milk available, cheese producers remain busy. Buyers are aware of the increases in production and availability. Producers say Midwestern customers are in the driver's seat, and loads are more available in the region than elsewhere, even in the West, where producers/sellers have a bit more leverage. Animal feed trading was somewhat slow. Prices dropped by a penny on the low end of the animal feed whey price range. End users, even those who work in animal feed, are finding edible grade spots at prices in their financial grasp. Dry whey market tones are uncertain to bearish.

The DMN monthly average of the mostly price series for Central dry whey during July was $.3215, compared to $.3491 in June. The monthly average of the range price series for Central animal feed whey during July was $.2680, compared to $.2914 in June. Prices for: Central U.S., All First Sales, F.O.B., Conventional, and Non-Edible Dry Whey Price Range - Animal Feed; $/LB: .2400 - .2700 Prices for: Central U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Dry Whey Price Range - Non-Hygroscopic; $/LB: .2700 - .3400 Mostly Range - Non-Hygroscopic; $/LB: .2950 - .3300

DRY WHEY - NORTHEAST

Dry whey prices are unchanged in the East on steady to moderate trading activity. Market participants report market conditions are steady to a bit softer. Manufacturers are working through committed contracts. Drying schedules are stable. Supplies are available for spot/contract orders. Buyers comfortable with their current inventory levels are not looking on the spot market. On the CME Group, spot prices are a bit lower from last week. The dry whey market tone is unsettled. Prices for: Eastern U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Dry Whey Price Range - Non-Hygroscopic; $/LB: .3200 - .3800

DRY WHEY - WEST F.O.B. prices for western dry whey have declined this week after bouncing up last week. They are trending down at the top of the range and at the bottom of the mostly series. This is partly because dry whey supplies outweigh current orders. With rising market uncertainties, buyers are cautious when making purchase decisions. Dry whey inventories are steady and available to meet all buying requests. Production is active and mainly unchanged from a week ago. The DMN monthly average of the mostly price series for West dry whey during July was $.3495 compared to $.3517 one month ago and $.3436 a year ago. Prices for: Western U.S., All First Sales, F.O.B., Extra Grade & Grade A, Conventional, and Edible Dry Whey Price Range - Non-Hygroscopic; $/LB: .2850 - .3800 Mostly Range - Non-Hygroscopic; $/LB: .3200 - .3700 Secondary Sourced Information: The July 2020 extra grade dry whey monthly average price, at the CME Group, is $ 0.3253 compared to $ 0.3181 the previous month.

WHEY PROTEIN CONCENTRATE Whey protein concentrate 34% prices eased back at the top of the price range and both ends of the mostly price series. The abundance of inexpensive dairy proteins is putting a lot of pressure on WPC 34% prices. Some manufacturers say weakness in WPC 80% and WPI markets is prompting them to make more WPC 34% than the higher whey protein concentrations. Without improvements in those higher whey protein concentration markets, the pressures faced by WPC 34% will likely remain in place. Inventories and production are generally steady to higher, however highly sought out brands of WPC 34% are in shorter supply. Aside from WPC 34% that meets specific end user requirements and has consistently strong demand, buyer interest is lackadaisical. The July 2020 Dairy Market News average of the mostly price series for Central and West whey protein concentrate 34% is $.8945, compared to $.9356 in June and $.9297 one year ago. Prices for: Central and Western U.S., All First Sales, F.O.B., Extra Grade, Conventional, and Edible Whey Protein Concentrate Price Range - 34% Protein; $/LB: .7100 - 1.0550 Mostly Range - 34% Protein; $/LB: .7350 - 1.0050


Dairy Products Report – Whey Summary Released August 4, 2020, by the National Agricultural Statistics Ser-vice (NASS), Agricultural Statistics Board, United States Department

of Agriculture (USDA). Dry Whey (Human) Production – States and United States

Monthly Production (1000 Percent Change from June May June June May

State 2019 2020 2020 2019 2020

United 81,722 85,445 84,106 2.9 -1.6

Atlantic 22,552 22,630 21,770 -3.5 -3.8 Central 37,548 43,494 42,126 12.2 -3.1 Wisconsin 26,049 26,900 25,889 -0.6 -3.8 West 21,622 19,321 20,210 -6.5 4.6

Dry Whey – Cumulative Production January - June

Cumulative Production Percent Change from

(1000 pounds) Dry Whey 2019 2020 2019 Total 1 473,353 492,609 4.1 Human 2 465,138 484,370 4.1 1. Excludes all modified dry whey products. 2. Values are calculated from Dairy Products

Manufacturers' stocks end of month 3

End of month stocks (1000 Percent Change from June May June June May

Dry Whey 2019 2020 2020 2019 2020 Human 67,246 83,979 83,387 24.0 -0.7 Animal 1,068 810 1,078 0.9 33.1 Total 68,314 84,789 84,465 23.6 -0.4

3. Stocks held by manufacturers at all points and in transit.

DAIRY MARKET NEWS, AUGUST 3 - 7, 2020 -6A- VOLUME 87, REPORT 32

WHEY, WPC 34%, LACTOSE & CASEIN Prices represent carlot/trucklot quantities for domestic and export sales packaged in 25 kg. or 50 lb. bags, or totes, spray process, dollars per pound.


LACTOSE Lactose prices are generally unchanged but moved lower at the bottom of the mostly prices series. Many manufacturers report production is steady, and supplies are highly committed to filling contractual obligations. But some buyers say they are getting more offers of available lactose at spot prices into the mid-forty cent range. While the market tone for lactose has remained strong throughout the summer, it is not immune to some of the uneasiness felt throughout dairy markets and world economies. Demand has cooled in recent weeks. What is not clear is whether this is a reversal of fortunes for the dairy carbohydrate, or just a mid-summer lull. Some industry contacts say they expect demand to pick up again as fall draws near. They think the need for lactose in standardization, infant formula and feed may each pull heavily on lactose volumes in the months to come. Initial reports suggest the hog population in China is returning to pre-African swine fever levels and the need for dairy carbohydrates may increase. The July 2020 Dairy Market News average of the mostly price series for Central and West lactose was $0.5170, compared to $0.4618 in June, and $.3085 one year ago. Prices for: Central and Western U.S., Spot Sales And Up to 3 Month Contracts, F.O.B., Conventional, and Edible Lactose Price Range - Non Pharmaceutical; $/LB: .4000 - .6300 Mostly Range - Non Pharmaceutical; $/LB: .4500 - .5800 Secondary Sourced Information: At the GDT Event 265 on August 4 the lactose price for the October contract period was $0.6119 per pound, up 5.7 percent from the last GDT event.

CASEIN

Rennet and acid casein prices are steady. Markets are quiet, with no reports of any price changing transactions. New Zealand is seasonally not producing for another month or two. Western European production is slow and destined to filling contracts. Prices for: Spot Sales And Up to 3 Month Contracts, Free on Board - Warehouse, Non-Restricted, All Mesh Sizes, Conventional, and Edible Casein Acid; Price Range - $/LB: 3.8000-3.9000 Rennet; Price Range - $/LB: 3.4975-3.7900 Secondary Sourced Information: United States casein imports January – June 2020, 23,000 MT, decreased 7.5 percent from January – June 2019 according to CLAL data made available to USDA. The three top origins, volumes and percent change include New Zealand, 10,507 MT, -5.7 percent; Ireland, 6,140 MT, -5.7 percent; and France, 3,589 MT, +30 percent.

U.S. Lactose Exports, H.S. Code 1702110000(FAS) 2020 Exports % Change From (Million Lb.) 1 Year Ago JUNE Total 61.9 + 8 TOTAL, JAN - JUNE 351.9 + 10 1 China 49.8 - 8 2 New Zealand 44.5 + 1 3 Japan 40.0 + 12 4 Mexico 38.3 - 20 5 Indonesia 26.1 + 62

Dairy Products Report – Whey Derivatives Summary Released August 4, 2020, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Selected Whey Derivatives Production – United States

Monthly Production (1000 pounds) Percent Change

JUN MAY JUN JUN MAY

Product 2019 2020 2020 2019 2020

Whey Protein Concentrate, human and animal

25.0-49.9 percent 13,628 13,882 13,689 0.4 -1.4

50.0-89.9 percent 25,888 25,833 25,794 -0.4 -0.2

Whey protein isolates, 90.0 percent or greater

10,564 10,675 10,258 -2.9 -3.9

Lactose, human and animal

108,551 94,059 101,076 -6.9 7.5

Selected Whey Derivatives – Cumulative Production January - June

Cumulative Production Percent

(1000 pounds) from

Product 2019 2020 2019

Whey Protein Concentrate, human and animal 1

25.0-49.9 percent 91,742 88,458 -3.6

50.0-89.9 percent 154,772 146,725 -5.2

Whey protein isolates, 90.0 percent or greater 1`

62,352 59,222 -5.0


651,550 559,047 -14.2

1. Values are calculated from Dairy Products report data.

Manufacturers' stocks end of month 2

End of month stocks (1000 pounds) Percent Change

JUN MAY JUN JUN MAY

Product 2019 2020 2020 2019 2020

Whey Protein Concentrate, human and animal

25.0-49.9 percent 21,375 25,983

25,891 21.1 -0.4

50.0-89.9 percent 35,916 41,853

42,174 17.4 0.8

Whey protein isolates, 90.0 percent or greater

18,571 16,476 15,612 -15.9 -5.2


117,096 98,314 95,690 -18.3 -2.7

2. Stocks held by manufacturers at all points and in transit.


U.S. Dairy Cow Slaughter (1000 head) under Federal Inspection

2020 WEEKLY 2020 2019 WEEKLY 2019 WEEK ENDING DAIRY COWS CUMULATIVE DAIRY COWS DAIRY COWS CUMULATIVE DAIRY COWS 07/25/2020 52.8 1,797.2 58.2 1,868.3 WEBSITE: http://www.ams.usda.gov/mnreports/sj_ls714.txt SOURCE: The slaughter data are gathered and tabulated in a cooperative effort by the Agricultural Marketing Service, the Food Safety and Inspection Service, and the National Agricultural Statistics Service, all of USDA

FEDERAL MILK ORDER CLASS III MILK PRICES (3.5% Butterfat)

YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2015 16.18 15.46 15.56 15.81 16.19 16.72 16.33 16.27 15.82 15.46 15.30 14.44 2016 13.72 13.80 13.74 13.63 12.76 13.22 15.24 16.91 16.39 14.82 16.76 17.40 2017 16.77 16.88 15.81 15.22 15.57 16.44 15.45 16.57 16.36 16.69 16.88 15.44 2018 14.00 13.40 14.22 14.47 15.18 15.21 14.10 14.95 16.09 15.53 14.44 13.78 2019 13.96 13.89 15.04 15.96 16.38 16.27 17.55 17.60 18.31 18.72 20.45 19.37

FEDERAL MILK ORDER CLASS IV MILK PRICES (3.5% Butterfat)

YEAR JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2015 13.23 13.82 13.80 13.51 13.91 13.90 13.15 12.90 15.08 16.43 16.89 15.52 2016 13.31 13.49 12.74 12.68 13.09 13.77 14.84 14.65 14.25 13.66 13.76 14.97 2017 16.19 15.59 14.32 14.01 14.49 15.89 16.60 16.61 15.86 14.85 13.99 13.51 2018 13.13 12.87 13.04 13.48 14.57 14.91 14.14 14.63 14.81 15.01 15.06 15.09 2019 15.48 15.86 15.71 15.72 16.29 16.83 16.90 16.74 16.35 16.39 16.60 16.70

FEDERAL MILK ORDER CLASS PRICES FOR 2020 (3.5% Butterfat)

CLASS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC I (BASE) 19.01 17.55 17.46 16.64 12.95 11.42 16.56 19.78 II 17.05 16.84 16.75 13.87 12.30 12.99 13.79 III 17.05 17.00 16.25 13.07 12.14 21.04 24.54 IV 16.65 16.20 14.87 11.40 10.67 12.90 13.76

Further information may be found at: https://www.ams.usda.gov/rules-regulations/mmr/dmr

NATIONAL DAIRY PRODUCTS SALES REPORT

U.S. AVERAGES AND TOTAL POUNDS

WEEK ENDING 08/01/2020

BUTTER

1.7626 1,240,165

CHEESE 40# BLOCKS

2.7633 12,378,558

CHEESE BARRELS 38% MOISTURE

2.4812 11,918,961

DRY WHEY

.3489 4,841,104

NDM

. 9752 12,624,646

Further data and revisions may be found on the internet at: http://www.ams.usda.gov/rules-regulations/mmr/dmr

CME GROUP, INC FUTURES

Selected settling prices CLASS III MILK FUTURES (Pit-Traded) ($/cwt)

DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 24.55 24.53 24.53 24.54 AUG 20 21.03 20.28 19.28 19.55 19.81 SEP 20 18.92 18.17 16.67 17.00 16.91

CLASS IV MILK FUTURES (Pit-Traded) ($/cwt)

DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 13.66 13.66 13.66 13.76 AUG 20 13.33 13.27 12.85 13.08 13.16 SEP 20 13.65 13.45 12.94 13.02 13.04

CASH SETTLED BUTTER FUTURES (Electronic-Traded) (¢/lb)

DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 176.25 176.25 176.25 178.86 AUG 20 170.00 167.00 159.50 161.50 163.50 SEP 20 169.75 168.08 160.58 160.50 161.03

NONFAT DRY MILK FUTURES (Pit-Traded) (¢/lb) DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 97.78 97.30 97.30 97.17 AUG 20 96.75 96.80 96.00 97.50 96.80 SEP 20 99.50 98.48 96.00 98.30 97.63

WHEY (Electronic-Traded) (¢/lb)

DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 34.78 34.78 34.78 34.40 AUG 20 33.55 33.25 33.03 33.40 33.75 SEP 20 32.25 32.00 31.75 31.75 32.25

BLOCK CHEESE CSC (Electronic-Traded) ($/lb)

DATE 07/31 08/03 08/04 08/05 08/06 JUL 20 2.70 2.70 2.70 AUG 20 2.23 2.20 2.10 2.10 2.13 SEP 20 2.02 2.00 1.88 1.88 1.88

Further information may be found at: http://www.cmegroup.com/market-data/daily-bulletin.html


ORGANIC DAIRY MARKET NEWS Information gathered July 27 - August 7, 2020

ORGANIC DAIRY FLUID OVERVIEW

Organic Milk Sales Climb. While dairy, in general, recognizes a boost due to the COVID-19 pandemic, U.S. organic milk markets, specifically, are seeing sizable increases in retail sales. According to source reports, much of the key growth took place in Q1 2020 at the height of pandemic shopping. As well, reports show that the portion of total households consuming organic milk has grown 6 percent, in some areas, compared to the previous year during that period in those areas. Additionally, from January 2020 through June 2020, organic milk retail sales increased 23 percent year-over-year, compared to the same period the previous year. Organic Cow Auction Prices. In a recent report of an Oregon livestock auction, organic cull cows sold for less than conventional cows. The average price for the top 10 organic cows auctioned was $66.12 per hundredweight, compared to an average price of $74.61 per hundredweight for the top 10 conventional cows auctioned.

ORGANIC GRAIN FEEDSTUFF OVERVIEW National Organic Grain Feedstuff. This period, trade activity is moderate on light demand for organic feed grade corn. Buyers/sellers are trading 11 cents higher F.O.B. Forward contracting is limited. Test weights for the corn have been reported anywhere from the high 40s to low 50s, while impacting the market prices. Weighted average spot market prices for organic feed grade corn picked up at the farm are 1.06 lower than the same period last year. Organic feed grade soybeans exchanges are light on good demand. The bulk of trade activity has been forward contracts for Q4 2020. The current weighted average prices for organic feed grade soybeans delivered elevator are 1.37 higher than the same period last year. Trade activity and demand are light to moderate for organic feed grade wheat. Trading is sluggish on all other organic grains.

For more additional information, access the links: https://www.ams.usda.gov/mnreports/lsbnof.pdf

ORGANIC DAIRY RETAIL OVERVIEW

Organic Milk Retail Prices for Selected U.S. Cities. The July 2020 in-store surveys of supermarkets in selected U.S. cities show that prices for organic whole milk in half gallon containers range from $3.14 in Houston, TX to $5.84 in Pittsburg, PA. Surveyed cities that experienced noteworthy jumps in prices were Philadelphia, PA. and New Orleans, LA., up 70 cents from June 2020 in both cities. While the majority of municipalities posted no change or increases in organic whole milk prices, Syracuse, NY price declined 50 cents, while Chicago, IL. and St. Louis, MO. both saw a 15 cents decline in the organic milk retail price. The U.S. simple average price for July is $4.09, up 7 cents from the previous month. Overall, organic milk retail prices are steady to higher. The graph below displays July 2020 organic half gallon whole milk price for each of the selected cities that were surveyed.

1As collected by Federal milk order market administrators based on a survey conducted one day between the 1st and 10th of each month (excluding Fridays and weekends) in selected cities or metropolitan areas. One outlet of the largest and second largest food store chains are surveyed. The price represents the most common brand in nonreturnable containers. 2The California Order became effective November 1, 2018. Retail price data for Sacramento, CA, became available beginning in February 2020. 3Simple average of monthly prices. Organic Retail Ad Summary. This week, retail advertisements for organic dairy products declined slightly, 3 percent, compared to the previous week. The individual categories of organic dairy products that placed ads in surveyed stores this period include organic milk and organic yogurt. The ad numbers for organic milk, gallon containers, strengthened 331 percent across the country. But, the larger volume of ads posted were for half gallon containers, nearly 4 times more than the gallon ad volume. Overall, organic milk retail ads grew 53 percent. The organic premium, the difference between the half gallon organic milk price, $4.11, and half gallon conventional milk price, $1.71,is $2.40 this period, an increase of 59 cents from the previous survey. Each region posted ads this survey period. The largest volumes of ads were in the Southwest retail stores, followed by Northeast retail stores. Meanwhile ads increased 604 percent in the Midwest as the Southwest region rose 279 percent.


-8-


ORGANIC DAIRY MARKET NEWS Information gathered July 27 - August 7, 2020


Each advertised organic dairy product and ad percentages, from the most recent survey, are shown in the pie chart below.

Data source: USDA AMS Dairy Market News Advertising information presented is compiled from nearly 23,000 surveyed newspaper supermarket ads. Prices are valid from August 7 – 13, 2020. Retail survey ads reflect “advertised specials” and not the range of non-advertised supermarket cooler prices.

Product pricing information of selected organic dairy commodities, from the current weekly retail survey, is presented in the following table:

NATIONAL RETAIL ORGANIC DAIRY WEIGHTED AVERAGE ADVERTISED PRICE

This Last Last Week Week Year COMMODITY

Butter n.a. $6.99 $5.99 Cream Cheese n.a. $2.50 $2.69 Milk Half Gal. $4.11 $3.79 $4.07 Gallon $6.24 $6.99 $6.22 8 oz.UHT $1.01 n.a. n.a. Yogurt 4-6 oz. Greek n.a. n.a. n.a. 32 oz. Greek n.a. $4.99 $5.20 4-6 oz. Yogurt n.a. n.a. $1.00 32 oz. Yogurt $3.00 $2.99 $3.50 Data source: USDA Dairy Market News

-8A-

DAIRY MARKET NEWS, AUGUST 3-7, 2020 -9- VOLUME 87, REPORT 32

2020 MONTHLY AVERAGES AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL CME GROUP ¹ BUTTER - DAILY TRADING GRADE AA 1.8813 1.7913 1.7235 1.1999 1.4710 1.8291 1.6925 CHEESE - DAILY TRADING BARRELS 1.5721 1.5470 1.4399 1.0690 1.5980 2.3376 2.4080 40 POUND BLOCKS 1.9142 1.8343 1.7550 1.1019 1.6704 2.5620 2.6466 NONFAT DRY MILK - DAILY TRADING GRADE A 1.2688 1.1816 1.0259 0.8485 0.9191 1.0092 1.0038 WHEY - DAILY TRADING EXTRA GRADE 0.3520 0.3708 0.3339 0.3644 0.3736 0.3181 0.3253 DAIRY MARKET NEWS ² CHEESE WISCONSIN PROCESS AMERICAN 5 POUND LOAF 1.8671 1.8055 1.7613 1.3897 1.6623 2.5047 2.6749 BRICK AND/OR MUENSTER 5 POUNDS 2.4880 2.4595 2.3710 1.7858 2.0283 3.0173 3.2867 CHEDDAR 40 POUND BLOCK 2.1980 2.1695 2.0810 1.4958 1.7383 2.7273 2.9967 MONTEREY JACK 10 POUNDS 2.3530 2.3245 2.2360 1.6508 1.8933 2.8823 3.1517 BLUE 5 POUNDS 3.0780 3.0495 2.9610 2.3758 2.6183 3.6073 3.8767 MOZZARELLA 5-6 POUNDS 2.5480 2.5195 2.4310 1.8458 2.0883 3.0773 3.3467 SWISS 6-9 POUND CUTS 3.1070 3.2429 3.2022 2.9614 2.9215 2.8556 2.5210 NORTHEAST CHEDDAR 40 POUND BLOCK 2.5042 2.4757 2.3873 1.8020 2.0445 3.0335 3.3030 PROCESS AMERICAN 5 POUND SLICED 1.9971 1.9355 1.8913 1.4847 1.7373 2.5797 2.7499 MUENSTER 2.5230 2.4945 2.4060 1.8208 2.0633 3.0523 3.3217 SWISS 10-14 POUND CUTS 3.6945 3.8406 3.7985 3.5489 3.5090 3.4431 3.1085 WEST PROCESS AMERICAN 5 POUND LOAF 1.8321 1.7705 1.7263 1.3547 1.6273 2.4697 2.6399 CHEDDAR 40 POUND BLOCK 2.2330 2.2045 2.1160 1.5308 1.7733 2.7623 3.0317 CHEDDAR 10 POUND CUTS 2.3355 2.3070 2.2185 1.6333 1.8758 2.8648 3.1342 MONTEREY JACK 10 POUNDS 2.3605 2.3320 2.2435 1.6583 1.9008 2.8898 3.1592 SWISS 6-9 POUND CUTS 3.3457 3.4918 3.4498 3.2001 3.1603 3.0943 2.7598 FLUID PRODUCTS CLASS II CREAM NORTHEAST - F.O.B. 2.1614 2.0461 1.9637 0.9716 1.5989 2.5839 2.3780 UPPER MIDWEST - F.O.B. 2.3045 2.1408 2.0912 1.1746 1.7044 2.5417 2.3992 CONDENSED SKIM - NORTHEAST - F.O.B. CLASS II 0.8690 0.9000 0.8500 0.4341 0.6638 0.8273 0.8500 CLASS III 0.8048 0.8500 0.7489 0.4000 0.5975 0.7523 0.7750 1 Monthly averages are a simple average of all the closes during the month. 2 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded.


2020 MONTHLY AVERAGES AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL DAIRY MARKET NEWS, CONTINUED ² DRY PRODUCTS NONFAT DRY MILK CENTRAL/EAST - LOW/MEDIUM HEAT 1.2683 1.2246 1.1005 0.9039 0.8980 1.0094 1.0203 --MOSTLY 1.2581 1.2305 1.0935 0.8898 0.8943 1.0167 1.0177 CENTRAL/EAST - HIGH HEAT 1.3271 1.3166 1.2534 1.0366 1.0342 1.1207 1.1509 WEST - LOW/MEDIUM HEAT 1.2543 1.2118 1.0818 0.8980 0.8832 0.9924 1.0148 --MOSTLY 1.2583 1.2153 1.0818 0.8789 0.8935 1.0095 1.0142 WEST - HIGH HEAT 1.3738 1.3433 1.2341 1.0468 1.0568 1.1450 1.1455 WHEY POWDER CENTRAL - 0.3427 0.3505 0.3511 0.3550 0.3687 0.3381 0.3114 --MOSTLY 0.3471 0.3591 0.3540 0.3528 0.3644 0.3491 0.3215 WEST - 0.3460 0.3761 0.3468 0.3493 0.3719 0.3359 0.3298 --MOSTLY 0.3526 0.3720 0.3691 0.3635 0.3770 0.3517 0.3495 NORTHEAST - EXTRA AND GRADE A 0.3449 0.3585 0.3738 0.3795 0.3806 0.3765 0.3489 WHEY PROTEIN CONCENTRATE 34% CENTRAL AND WEST 1.0020 1.0339 1.0547 1.0186 0.9509 0.9274 0.9002 -- MOSTLY 1.0017 1.0140 1.0148 1.0027 0.9590 0.9356 0.8945 ANIMAL FEED CENTRAL - MILK REPLACER 0.2900 0.2997 0.2973 0.2968 0.3098 0.2914 0.2680 DRY BUTTERMILK CENTRAL/EAST 1.1483 1.1613 1.1303 0.9736 0.9210 0.9774 1.0113 WEST 1.1231 1.1450 1.1335 0.9766 0.8735 0.9222 0.9261 --MOSTLY 1.1320 1.1574 1.1391 0.9936 0.9045 0.9227 0.9196 DRY WHOLE MILK NATIONAL 1.8083 1.8118 1.7807 1.6766 1.6808 1.6909 1.6978 LACTOSE CENTRAL AND WEST 0.3157 0.3236 0.3294 0.3658 0.4129 0.4373 0.4997 -- MOSTLY 0.2979 0.3043 0.3107 0.3467 0.4018 0.4618 0.5170 CASEIN RENNET 4.1240 4.4857 4.5139 4.4036 4.0582 3.8696 3.6438 ACID 3.6645 3.7338 3.8031 3.9980 3.8798 3.8614 3.8500 2 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month - Saturdays, Sundays and National Holidays excluded.


2020 INTERNATIONAL MONTHLY AVERAGES AREA and PRODUCT : JAN : FEB : MAR : APR : MAY : JUN : JUL DAIRY MARKET NEWS ² BUTTER (82% BUTTERFAT) -- OCEANIA 4096 4169 4273 4210 3824 3641 3639 -- WEST EUROPE 4045 3938 3626 2602 2579 3056 3857 BUTTEROIL (99% BUTTERFAT) -- WEST EUROPE 5056 4981 4414 3758 3594 3699 4706 CHEDDAR CHEESE (39% MAXIMUM MOISTURE) -- OCEANIA 4034 4431 4365 4427 4018 3835 3845 SKIM MILK POWDER (1.25% BUTTERFAT) -- OCEANIA 3076 3006 2755 2549 2548 2624 2737 -- SOUTH AMERICA 3020 2875 2695 2600 2536 2627 2693 -- WEST EUROPE 2906 2838 2460 1816 1836 2102 2478 WHEY POWDER (NONHYGROSCOPIC) -- WEST EUROPE 923 913 882 710 734 784 911 WHOLE MILK POWDER (26% BUTTERFAT) -- OCEANIA 3185 3006 2870 2765 2715 2798 3204 -- SOUTH AMERICA 3183 3050 2905 2900 2877 2904 3097 -- WEST EUROPE 3416 3350 3061 2476 2398 2618 3167 2 Monthly averages are based on weekly prices and are time-weighted according to the number of workdays in the month – Saturdays and Sundays excluded.


June Agricultural Prices Highlights The All Milk price received by farmers was $18.10 in June, unchanged from June 2019. The alfalfa hay price was $179.00 in June, down $14.00 from June 2019. The corn price was $3.16 in June, down $0.82 from June 2019. The soybean price was $8.34 in June, up $0.03 from June 2019. The milk-feed price ratio was 2.36 in June, up 0.28 from June 2019. The index of prices received by farmers for dairy products during the month of June 2020 was up 22.3 to 90.0. Compared to June 2019, the index was unchanged (0.0%) percent. The index of prices paid by farmers for commodities and services, interest, taxes, and wage rates in June 2020 was up 0.3 point to 109.1. Compared with June 2019, the index was down 1.3 points (-1.2 percent).

Selected Milk Prices, Milk Cows, and Feed Prices, Selected States and U.S., June 2020 with Comparisons

State All-Milk price 1, 2 Alfalfa hay, baled Corn for Grain Soybeans

June June June June 2019 2020 2019 2020 2019 2020 2019 2020

(dollars per cwt) (dollars per ton) (dollars per bushel) (dollars per bushel) AZ 17.80 15.60 220.00 185.00 --- --- --- --- CA 18.10 18.70 200.00 190.00 --- --- --- --- CO 18.30 15.10 240.00 225.00 4.05 3.08 --- --- GA 19.40 15.70 --- --- --- --- --- --- ID 17.40 20.20 160.00 160.00 --- --- --- --- IN 17.60 15.40 --- --- 4.28 3.41 8.71 8.69

IA 18.40 20.70 141.00 113.00 3.95 3.11 8.28 8.28 MI 16.90 14.80 195.00 170.00 4.31 3.31 8.42 8.80 MN 18.30 21.20 192.00 146.00 3.74 3.07 8.27 8.23 NM 16.60 16.50 240.00 220.00 --- --- --- --- NY 18.60 15.50 181.00 198.00 --- --- --- ---

OH 18.10 16.90 215.00 200.00 4.28 3.54 8.53 8.82 PA 18.90 16.30 231.00 228.00 4.53 3.87 --- --- TX 18.60 19.50 193.00 169.00 4.46 3.76 --- --- WA 18.50 16.70 195.00 207.00 --- --- --- --- WI 17.90 19.50 219.00 159.00 3.89 3.16 8.22 8.19

U.S. 18.10 18.10 193.00 179.00 3.98 3.16 8.31 8.34

1 Prices are shown at reported butterfat test. 2 Before deduction for hauling. Includes quality, quantity, and other premiums. Excludes hauling subsidies.

Milk-Feed Price Ratio, Selected States and U.S., June 2020 with Comparisons Milk-feed: pounds of 16% mixed dairy feed equal in value to 1 pound of whole milk 1

State2 June 2019 May 2020 June 2020

IA 2.32 2.10 2.46 MI 2.02 1.59 2.27 MN 2.00 1.75 2.01 OH 1.92 1.77 1.87 WI 2.03 1.80 2.31

U.S. 2.08 1.77 2.36

(D) = Withheld to avoid disclosing data for individual operations. 1 The price of commercial prepared dairy feed is based on current United States prices received for corn, soybeans, and alfalfa. The modeled feed uses 51 percent corn, 8 percent soybeans, and 41 percent alfalfa hay. 2 Available states that provided all necessary data to compute milk-feed price ratios.

General Price Measures, U.S., June 2020 with Comparisons

Item June 2019

May 2020

June 2020

Index Numbers (1990-92=100): Prices received by farmers for dairy production 90.0 67.7 90.0 Prices paid by farmers for commodities and services, interest taxes, and wage rates 110.4 108.8 109.1

Source: U.S. Department of Agriculture. National Agricultural Statistics Service. Agricultural Statistics Board. Agricultural Prices, July 2020.


June 2020 Dairy Products Highlights Butter production was 150 million pounds, 3.1 percent below June 2019, and 15.7 percent below May 2020. American type cheese production totaled 438 million pounds, 2.5 percent above June 2019, but 0.9 percent below May 2020. Total cheese output (excluding cottage cheese) was 1.10 billion pounds, 3.5 percent above June 2019, and 0.3 percent above May 2020. Nonfat dry milk production, for human food, totaled 147 million pounds, 7.1 percent below June 2019, and 7.5 percent below May 2020. Dry whey production, for human food, was 84 million pounds, 2.9 percent above June 2019, but 1.6 percent below May 2020. Ice cream, regular hard production, totaled 71.2 million gallons, 9.7 percent above June 2019, and 11.1 percent above May 2020.

Production of Dairy Products

Product June 2020

Change from Product

June 2020

Change from June 2019

May 2020

Year to Date 1

June 2019

May 2020

Year to Date 1

(1,000 lbs) (percent) (1,000 lbs) (percent) Butter 150,018 -3.1 -15.7 7.0 Yogurt (plain and flavored) 390,015 7.1 4.8 1.1 Cheese Dry whey, human food 84,106 2.9 -1.6 --- American types 2 438,248 2.5 -0.9 1.5 Dry whey, animal feed 1,263 0.7 16.0 --- Cheddar 310,615 1.0 -2.2 1.2 Dry whey, total 8 85,369 2.9 -1.3 4.1 Other American 127,633 6.2 2.5 --- Reduced lactose & minerals Brick & Muenster 16,715 -0.2 -4.9 --- Human food 1,819 7.3 4.5 --- Cream & Neufchatel 87,431 22.6 13.2 --- Animal feed 3,020 3.4 3.0 --- Hispanic 28,507 10.2 -3.9 --- Lactose, human food & animal feed 101,076 -6.9 7.5 -14.2 Total Italian types 475,313 3.0 -1.1 --- Whey protein concentrate Mozzarella 384,815 3.9 1.7 0.1 Human food 9 39,100 0.7 1.5 --- Other Italian 90,498 -0.9 -11.6 --- Animal feed 9 383 -43.3 -68.2 --- Swiss 26,053 -7.9 7.4 --- Total9 39,483 -0.1 -0.6 -4.6 All other types 32,392 -10.3 10.3 --- 25.0-49.9 percent 10 13,689 0.4 -1.4 --- Total 1,104,659 3.5 0.3 0.5 50.0-89.9 percent 10 25,794 -0.4 -0.2 --- Cottage cheese, curd 3 31,962 - -3.3 --- Whey protein isolates 11 10,258 -2.9 -3.9 ---

Cottage cheese, cream 4 31,077 9.9 -2.8 2.9 Cottage cheese, lowfat 5 25,455 0.1 -1.9 -4.8 (1,000 gal) (percent) Dry buttermilk 9,008 7.8 -25.4 --- Frozen products Dry whole milk 10,349 -22.7 -28.1 --- Ice cream, regular hard 71,234 9.7 11.1 -0.7 Milk protein conc. (MPC), total 6 18,210 -7.6 33.6 --- Ice cream, lowfat, hard 23,395 6.2 4.0 --- Nonfat dry milk (NDM), human 146,689 -7.1 -7.5 1.6 Ice cream, lowfat, soft 21,324 -4.5 0.6 --- Skim milk powders (SMP) 7 61,253 17.7 30.1 10.2 Ice cream, lowfat, total 44,719 0.8 2.4 -9.0 Sour cream 123,024 10.4 -9.6 4.4 Sherbet, hard 3,502 10.6 34.0 -1.4 Frozen yogurt, total 5,405 -4.2 -10.5 -8.5

Manufacturers' Stocks, End of Month 12

Product June 2020

June 2019

May 2020

Product June 2020

June 2019

May 2020

(1,000 lbs) (percent) (1,000 lbs) (percent) Whey protein concentrate

Dry whey, human food 83,387 24.0 -0.7 Human food 9 66,911 19.0 0.4 Dry whey, animal feed 1,078 0.9 33.1 Animal feed 9 1,154 9.9 -3.1 Reduced lactose & minerals—human & animal 13 5,429 -4.7 6.4 Total9 68,065 18.8 0.3 Lactose, human food & animal feed 95,690 -18.3 -2.7 25.0-49.9 percent 10 25,891 21.1 -0.4 Dry buttermilk 24,178 72.4 -1.8 50.0-89.9 percent 10 42,174 17.4 0.8 Nonfat dry milk, human food 289,048 -0.7 -16.4 Whey protein isolates 11 15,612 -15.9 -5.2

1 2019 cumulative as percent change of 2018 cumulative. 2 Includes Cheddar, Colby, Monterey and Jack. 3 Mostly used for processing into cream or lowfat cottage cheese. 4 Fat content 4 percent or more. 5 Fat content less than 4 percent. 6 Dry milk protein concentrate, 40-89.9 percent. 7 Includes protein standardized and blends. 8 Excludes all modified dry whey products. 9 Whey protein concentrate, 25.0 to 89.9 percent. 10 Whey protein concentrate, human and animal. 11 Whey protein isolates, 90.0 percent or greater. 12 Stocks held by manufacturers at all points and in transit. 13 Reduced lactose and minerals stocks combined to avoid disclosure of individual operations. Source: U.S. Department of Agriculture. National Agricultural Statistics Service. Agricultural Statistics Board. Dairy Products, August 2020.

DAIRY MARKET NEWS, AUGUST 3 –7, 2020 -14- VOLUME 87, REPORT 32

Final Class Prices by Order, July 2020

July 2020 Highlights Class Prices: The following are the July 2020 class prices under the Federal milk order pricing system and changes from the previous month: Class II: $13.79 ($+0.80), Class III: $24.54 ($+3.50), and Class IV: $13.76 ($+0.86). Component Price Information: Under the Federal milk order pricing system, the butterfat price for July 2020 is $1.9583 per pound. Thus, the Class II butterfat price is $1.9653 per pound. The protein and other solids prices for July 2020 are $5.6294 and $0.1492 per pound, respectively. These component prices set the Class III skim milk price at $18.33 per cwt. The July 2020 Class IV skim milk price is $7.16, which is derived from the nonfat solids price of $0.7959 per pound. Product Price Averages: The product price averages for July 2020 are butter $1.7886, nonfat dry milk $0.9717, cheese $2.5873, and dry whey $0.3440.

Final Class Prices by Order for July 2020

Federal Milk Order Minimum Class Prices for Milk of 3.5 Percent Butterfat 1, 2

Federal Milk Order Marketing Area3

Order Number

Jul 2020 Aug 2020

Class I Class II Class III Class IV Class I

(dollars per cwt)

Northeast (Boston) 001 19.81 13.79 24.54 13.76 23.03 Appalachian (Charlotte) 005 19.96 13.79 24.54 13.76 23.18 Florida (Tampa) 006 21.96 13.79 24.54 13.76 25.18 Southeast (Atlanta) 007 20.36 13.79 24.54 13.76 23.58 Upper Midwest (Chicago) 030 18.36 13.79 24.54 13.76 21.58 Central (Kansas City) 032 18.56 13.79 24.54 13.76 21.78 Mideast (Cleveland) 033 18.56 13.79 24.54 13.76 21.78 California (Los Angeles) 051 18.66 13.79 24.54 13.76 21.88 Pacific Northwest (Seattle) 124 18.46 13.79 24.54 13.76 21.68 Southwest (Dallas) 126 19.56 13.79 24.54 13.76 22.78 Arizona (Phoenix) 131 18.91 13.79 24.54 13.76 22.13 All-Market Average 19.38 13.79 24.54 13.76 22.60

1 To convert the Class I price per 100 pounds to the Class I price per gallon, divide by 11.63 - the approximate number of gallons in 100 pounds of milk. 2 The mandatory $0.20 per cwt processor assessment under the Fluid Milk Promotion Order is not included in the Class I prices shown on this table. 3 Names in parentheses are the major city in the principal pricing point of the markets. Class I prices at other cities are: Northeast (Boston): New York City, minus $0.10; Philadelphia, minus $0.20; Baltimore, minus $0.25, and Washington, DC, minus $0.25; Appalachian (Charlotte): Knoxville, minus $0.20; and Louisville, minus $1.10; Florida (Tampa): Orlando, same; Miami, plus $0.60; and Jacksonville, minus $0.40; Southeast (Atlanta): New Orleans, same; Memphis, minus $0.90; Nashville, minus $0.90; and Springfield, MO, minus $1.40; Upper Midwest (Chicago): Milwaukee, minus $0.05; and Minneapolis, minus $0.10; Central (Kansas City): Des Moines, minus $0.20; Omaha, minus $0.15; Oklahoma City, plus $0.60; St. Louis, same; and Denver, plus $0.55; Mideast (Cleveland): Indianapolis, same; Cincinnati, plus $0.20; Pittsburgh, plus $0.10; and Detroit, minus $0.20; California (Los Angeles); San Francisco, minus $0.30; Sacramento, minus $0.40; Tulare, minus $0.50. Pacific Northwest (Seattle): Portland, same; and Spokane, same; Southwest (Dallas): Houston, plus $0.60; San Antonio, plus $0.45; Albuquerque, minus $0.65; and El Paso, minus $0.75. Report Contact: Randal Stoker, [email protected]

DAIRY MARKET NEWS, AUGUST 3 - 7, 2020 -G1- VOLUME 87, REPORT 32

$0.60

$0.70

$0.80

$0.90

$1.00

$1.10

$1.20

$1.30

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

PER POUND

GRAPH/SOURCE USDA, AMS, DMN

Central & East Low/Medium Heat Nonfat Dry Milk Monthly Average Mostly Prices

2016 2017 2018 2019 2020

$0.60

$0.70

$0.80

$0.90

$1.00

$1.10

$1.20

$1.30


PER POUND


Western Low/Medium Heat Nonfat Dry Milk Monthly Average Mostly Prices

2016 2017 2018 2019 2020

$0.50

$0.60

$0.70

$0.80

$0.90

$1.00

$1.10


PER POUND


Central & West Dry WPC 34% Monthly Average Mostly Prices

2016 2017 2018 2019 2020

DAIRY MARKET NEWS, AUGUST 3 - 7, 2020 -G2- VOLUME 87, REPORT 32

$0.15

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

$0.50

$0.55


PER POUND


Central Dry Whey Monthly Average Mostly Prices

2016 2017 2018 2019 2020

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

$0.50

$0.55


PER POUND


Northeastern Dry Whey Monthly Average Prices

2016 2017 2018 2019 2020

$0.20

$0.25

$0.30

$0.35

$0.40

$0.45

$0.50

$0.55


PER POUND


Western Dry Whey Monthly Average Mostly Prices

2016 2017 2018 2019 2020

1 -- Dairy Market News surveys nearly 150 retailers, comprising over 23,000 individual stores, with online weekly advertised features.

Dairy Market News Branch

AgriculturalMarketingService

National Retail Report-DairyWebsites: http://www.marketnews.usda.gov/mnp/da-home and http://www.ams.usda.gov/mnreports/dybretail.pdf

Volume 87- Number 32 Issued Weekly Friday, August 7, 2020

Advertised Prices for Dairy Products at Major Retail Supermarket Outlets ending during the period of 08/07/2020 to 08/13/2020

Conventional retail ad numbers this week increased 18 percent. Organic retail ad numbers decreased 3 percent. The most advertised single category/size is 48-64 oz conventional ice cream. Ad numbers increased 28 percent from last week. The weighted average advertised price, $2.80, decreased 20 cents from last week. There are no ads for organic ice cream this week. Ads for conventional 1# butter decreased 44 percent. The weighted average advertised price, $2.74, increased 3 cents.

The conventional cheese ad count was nearly even with last week. There are no ads for organic cheese. Ad numbers for 8 oz block increased 59 percent. The weighted average advertised price, $2.68, increased 17 cents.

Conventional yogurt ads increased 27 percent. Ads for conventional 4-6 oz Greek yogurt more than doubled. The average price, $0.93, is even with last week.

The national weighted average advertised price for conventional milk in half gallons is $1.71, compared with $4.11 for organic milk half gallons. This results in an organic premium of $2.40. Conventional milk ads decreased 61 percent, while organic milk ads decreased 83 percent.

Cheese Yogurt Ice cream Cottage cheese Sour cream

Sto

res

with

Ads

0K

4K

8K

12K

16K

20K

24K

08/07/2020 07/31/2020 07/24/2020

Top 5 Commodities Featured This Week

National Retail Report - Dairy Vol 87 - No. 32Friday, August 7, 2020 - Page 2

Wtd Avg - Simple weighted average

Butter, 2%

Cheese, 25%

Cottage cheese, 10%

Cream cheese, 4%

Flavored milk, 1%Ice cream, 20%

Milk, 1%

Sour cream, 9%

Yogurt, 21%

Percentage of Total Conventional Ads by Commodity

Milk, 94%

Yogurt, 6%

Percentage of Total Organic Ads by Commodity



NATIONAL -- CONVENTIONAL DAIRY PRODUCTS

Commodity Type Pack Size

THIS PERIOD LAST WEEK LAST YEAR

StoresWith Ads

Wtd AvgPrice

StoresWith Ads

Wtd AvgPrice

StoresWith Ads

Wtd AvgPrice

Butter 1 # 1462 2.74 2614 2.71 3771 3.22

Cheese Natural Varieties 8 oz block 5171 2.68 3248 2.51 5713 2.14

Cheese Natural Varieties 1 # block 1027 4.00 2283 3.45 3198 3.64

Cheese Natural Varieties 2 # block 1164 6.05 2692 6.15 417 6.85

Cheese Natural Varieties 8 oz shred 7966 2.54 4623 2.39 4799 2.29

Cheese Natural Varieties 1 # shred 352 3.58 2917 3.66 2278 3.37

Cottage cheese 16 oz 6194 2.04 3124 1.78 2048 2.00

Cream cheese 8 oz 2544 2.38 1483 2.14 1735 1.73

Flavored milk All fat tests half gallon 488 2.56 106 1.49 1204 1.93

Flavored milk All fat tests gallon 167 2.55 668 3.34

Ice cream 48-64oz 12661 2.80 9873 3.00 11431 2.97

Milk All fat tests half gallon 131 1.71 868 1.98 231 2.03

Milk All fat tests gallon 360 2.57 394 2.15 662 2.79

Sour cream 16 oz 5698 1.83 5231 1.74 3898 1.81

Yogurt Greek 4-6 oz 9182 .93 4394 .93 6800 .97

Yogurt Greek 32 oz 683 4.80 1360 4.40 2193 4.09

Yogurt Yogurt 4-6 oz 3337 .49 4472 .51 5400 .51

Yogurt Yogurt 32 oz 226 2.25 326 2.67 619 1.95

REGIONAL -- CONVENTIONAL DAIRY PRODUCTS


NORTHEAST U.S. SOUTHEAST U.S. MIDWEST U.S.

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Butter 1 # 1.99-3.50 811 2.87 1.99-2.79 282 2.59

Cheese Natural Varieties 8 oz block 1.99-3.49 1479 2.62 2.50-3.00 1197 2.92 2.50-3.50 436 2.75

Cheese Natural Varieties 1 # block 3.99-4.49 441 4.15 3.89 586 3.89

Cheese Natural Varieties 2 # block 4.99-5.88 192 5.38 5.99 114 5.99 5.99-7.49 388 6.21

Cheese Natural Varieties 8 oz shred 1.99-3.50 2009 2.40 1.99-3.00 2708 2.68 1.67-3.50 683 2.50

Cheese Natural Varieties 1 # shred 3.49-3.99 283 3.60 3.50 69 3.50

Cottage cheese 16 oz 1.99-2.60 1625 2.20 1.50-2.50 2788 1.94 1.99-2.50 274 2.10

Cream cheese 8 oz 1.67-2.99 555 2.39 1.50-2.99 1494 2.50 1.50-1.99 191 1.78

Flavored milk All fat tests half gallon 2.50-3.00 488 2.56

Ice cream 48-64oz 1.97-3.99 3208 2.74 1.97-5.99 2989 2.80 2.49-5.00 2474 2.76

Milk All fat tests half gallon 0.99 110 .99

Milk All fat tests gallon 2.50-2.77 122 2.62

Sour cream 16 oz 1.50-2.50 1392 1.88 0.99-2.19 2833 1.82 1.79-1.99 378 1.87

Yogurt Greek 4-6 oz 0.69-1.00 2767 .90 0.88-1.00 2942 .95 0.80-1.00 1189 .92

Yogurt Greek 32 oz 3.99-5.00 243 4.44

Yogurt Yogurt 4-6 oz 0.49-0.60 1305 .50 0.50 248 .50 0.40-0.50 419 .47





Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Yogurt Yogurt 32 oz 2.99 59 2.99 1.99 106 1.99


SOUTH CENTRAL U.S. SOUTHWEST U.S. NORTHWEST U.S.

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Butter 1 # 1.99-3.49 245 2.31 2.99 63 2.99 2.99 61 2.99

Cheese Natural Varieties 8 oz block 2.00-2.99 584 2.51 1.99-3.50 946 2.75 1.67-2.99 529 2.29

Cheese Natural Varieties 2 # block 5.99-6.99 192 6.58 5.88-5.99 230 5.94

Cheese Natural Varieties 8 oz shred 1.99-2.99 1295 2.55 1.99-3.00 916 2.66 1.67-1.99 279 1.80

Cottage cheese 16 oz 1.99-2.68 264 2.18 1.49-2.49 1195 2.02

Cream cheese 8 oz 2.25-3.00 199 2.48 1.67 105 1.67

Flavored milk All fat tests gallon 3.49 62 3.49 1.99 105 1.99

Ice cream 48-64oz 1.88-4.99 1312 2.99 1.97-3.99 1525 2.86 1.97-3.49 1056 2.66

Milk All fat tests gallon 2.99 133 2.99 1.99 105 1.99

Sour cream 16 oz 1.25-1.99 385 1.73 1.49-1.99 641 1.80

Yogurt Greek 4-6 oz 0.79-1.00 575 .91 0.88-1.00 1334 .93 0.88-1.25 295 .98

Yogurt Greek 32 oz 4.99-5.00 371 5.00

Yogurt Yogurt 4-6 oz 0.49-0.50 656 .49 0.50 315 .50 0.39-0.50 394 .47

Yogurt Yogurt 32 oz 1.98 61 1.98


ALASKA U.S. HAWAII U.S.

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Cheese Natural Varieties 2 # block 5.88 21 5.88 5.88 27 5.88

Cheese Natural Varieties 8 oz shred 2.79-3.00 49 2.88 3.00 27 3.00

Cottage cheese 16 oz 2.49 21 2.49 2.49 27 2.49

Ice cream 48-64oz 2.78-4.99 70 3.99 2.78 27 2.78

Milk All fat tests half gallon 5.49 21 5.49

Sour cream 16 oz 1.99 42 1.99 1.99 27 1.99

Yogurt Greek 4-6 oz 0.88-1.25 53 1.10 0.88 27 .88

Yogurt Greek 32 oz 4.99-5.00 42 5.00 5.00 27 5.00

NATIONAL -- ORGANIC DAIRY PRODUCTS


THIS PERIOD LAST WEEK LAST YEAR

StoresWith Ads

Wtd AvgPrice

StoresWith Ads

Wtd AvgPrice

StoresWith Ads

Wtd AvgPrice



Butter 1 # 69 6.99 214 5.99

Cheese Natural Varieties 8 oz block 161 3.99

Cottage cheese 16 oz 214 4.29

Cream cheese 8 oz 214 2.50 247 2.69

Ice cream 48-64oz 72 6.99 214 5.99

Milk All fat tests half gallon 2497 4.11 2041 3.79 2732 4.07

Milk All fat tests gallon 633 6.24 147 6.99 347 6.22

Milk All fat tests 8 oz UHT 216 1.01

Sour cream 16 oz 289 2.49

Yogurt Greek 32 oz 114 4.99 269 5.20

Yogurt Yogurt 4-6 oz 137 1.00

Yogurt Yogurt 32 oz 195 3.00 1002 2.99 522 3.50

REGIONAL -- ORGANIC DAIRY PRODUCTS



Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Milk All fat tests half gallon 3.99-4.99 678 4.53 3.99-4.00 301 3.99 2.99-4.49 486 3.35

Milk All fat tests gallon 6.99 161 6.99 5.99 61 5.99

Milk All fat tests 8 oz UHT 1.00 108 1.00 1.00 87 1.00

Yogurt Yogurt 32 oz 3.00 195 3.00


SOUTH CENTRAL U.S. SOUTHWEST U.S. NORTHWEST U.S.

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Milk All fat tests half gallon 3.99 133 3.99 3.49-4.99 666 4.44 3.49 174 3.49

Milk All fat tests gallon 5.99 411 5.99


ALASKA U.S. HAWAII U.S.

Price Range

Stores with Ads

Wtd AvgPrice

Price Range

Stores with Ads

Wtd AvgPrice

Milk All fat tests half gallon 3.29-4.99 32 4.41 4.99 27 4.99

Milk All fat tests 8 oz UHT 1.08 21 1.08

REGIONAL DEFINITIONS

As used in this report, regions include the following states:



NORTHEAST U.S. Connecticut, Delaware, Massachusetts, Maryland, Maine, New Hampshire, New jersey, New York, Pennsylvania, Rhode Island and Vermont

SOUTHEAST U.S. Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West VirginiaMIDWEST U.S. Iowa, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Dakota, Nebraska, Ohio, South Dakota and WisconsinSOUTH CENTRAL U.S. Arkansas, Colorado, Kansas, Louisiana, Missouri, New Mexico, Oklahoma, and TexasSOUTHWEST U.S. Arizona, California, Nevada and UtahNORTHWEST U.S. Idaho, Montana, Oregon, Washington, and WyomingALASKA AlaskaHAWAII HawaiiNATIONAL Continental United States

USDA is an equal opportunity provider and employer

Dairy Market News United States Department of Agriculture

Agricultural Marketing Service Dairy Programs Market Information Branch

Volume 87, Report 32 August 7, 2020

GENERAL NUMBER (608) 422-8587 Elizabeth Frederick (608) 422-8587 [email protected]

ORGANIC/ EAST Daniel Johnson (608) 422-8605 [email protected]

EAST Jessica Mueller (608) 422-8589 [email protected]

CENTRAL Israel Weber (608) 422-8601 [email protected]

SOUTHWEST/SOUTH AMERICA AJ (Angel José) Terán (608) 422-8593 Angel.Terá[email protected]

SOUTHWEST Florence Kone-Gonzalez (608) 422-8594 [email protected]

NORTHWEST/MOUNTAIN Mike Bandli (608) 422-8592 [email protected]

EUROPE/OCEANIA Eric Graf (608) 422-8590 [email protected]

DEPUTY DIRECTOR, DAIRY MARKET NEWS

Janet Linder (608) 422-8588 [email protected] DIRECTOR, DAIRY MARKET NEWS

Butch Speth (608) 422-8586 [email protected]

RECORDED INFORMATION SYSTEM (608) 422-8602

FAX (608) 240-6689 ________________________ USDA, Dairy Market News 4600 American Parkway, STE 106 Madison, WI 53718-8334

Additional Dairy Market News Information: DMN Website: https://www.ams.usda.gov/market-news/dairy

DMN MARS (My Market News): https://mymarketnews.ams.usda.gov/

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