Trilateral November Dairy Report

  • Cheddar production up 8% y/y
  • New Food Box program expires end of December—spot prices down sharply in November
  • August butter production highest for the month since 1942.
  • Butter October stocks  up 28% y/y and the highest stocks for the month  since 1993.
  • Strong demand and tightening supply support rising whey prices
  • October milk production grew at a very strong 2.3% y/y increase for a fifth consecutive y/y gain

Read full report here