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Dairy’s 2020 Gains Were Steady In A Year That Was Anything But

We’ll spare you the long story of how 2020 was difficult for everyone – assuming you aren’t a time-traveler or a visitor from outer space, you already know it. And if you follow this column, you’ll know that consumers turned to dairy in difficult times, from baking at home to stocking up on fluid milk in the COVID-19 pandemic’s earliest days.

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But the final consumption data for 2020 is now in, and the spreadsheet confirms what we already knew in our hearts: For the third consecutive year, U.S. per-capita dairy consumption increased, to 655 pounds per person from 653 pounds in 2019, showing a resilience in dairy that reflects that of those who relied on it.

No eye-poppers in this year’s report. A small uptick in yogurt, a gain in butter as it marches back to 1960’s-level consumption, increased buying of both full-fat and lower-fat ice cream – because what’s a ­­­lockdown without ice cream? And fluid milk consumption held steady, belying the haters who always use receding prominence  as fake evidence of the “death of dairy” even as gains among other dairy products more than outpace any fluid losses.

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Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”


After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!