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Milk futures prices increased substantially in early January but then dipped on Jan. 20. The long-term future depends on how producers react when it comes to milk supplies, as well as the relationship between domestic and international dairy product prices, which impact exports. Progressive Dairy provides monthly online updates of important dates and reports affecting risk management decisions.
In December, the USDA released details regarding changes to the Dairy Margin Coverage (DMC) program, including hay price adjustments used to calculate monthly feed costs and margins, creation of a Supplemental DMC provision for small- and mid-sized dairy producers to update milk production history and establishment of a 2022 sign-up period.
Progressive Dairy provides updates on dairy-related organizations and companies, compiled from staff news sources and industry press releases. Email industry and organization news to Progressive Dairy Editor Jenna Hurty.
It took a roller coaster ride to get there, but December 2021 uniform milk prices in Federal Milk Marketing Orders (FMMOs) reached the highest level in more than seven years. Riding the recent wave in milk class prices, more Class III milk was pooled but more Class IV milk wasn’t.
After a slower October, November strength in foreign sales of milk powders and cheese pushed the U.S. dairy export market toward a strong finish to 2021, according to the U.S. Dairy Export Council (USDEC).
A U.S.-Mexico-Canada Agreement (USMCA) Dispute Settlement Panel found Canada is improperly restricting access to U.S. dairy products in violation of its USMCA tariff-rate quotas (TRQs) commitments. With the finding, Canada faces possible retaliatory measures if the dispute issues are not resolved by Feb. 3.
The FDA’s annual analysis shows dairy consumers are safer than ever when it comes to milk, with the industry setting record lows for samples testing positive for animal drug residues in the past year.
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