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Discounted loads of milk carry mixed signals

Do year-over-year (YOY) milk production gains and discounted spot milk signal a surplus?

Not necessarily.

The USDA’s Dairy Market News has reported discounted loads of spot milk in the Upper Midwest that have been trading around $10 per hundredweight under the Class III price every week since the beginning of the year.

Such steeply discounted spot loads of milk stretching through the first four months of the year may have previously suggested a widespread surplus of milk. However, the U.S. milk supply is less burdensome than the discounted loads of milk suggest.

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Ben Laine

May 4, 2023

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