Dairy product inventories continued to grow in April and remain above a year ago. The Agriculture Department’s latest Cold Storage report shows April butter stocks at a bearish 307.3 million pounds, up 33.4 million pounds or 12.2 percent from March and are 15.1 million pounds or 5.2 percent above April 2017.
American type cheese hit 781.5 million pounds, up 14.9 million pounds or 1.9 percent from March, but 23.2 million or 2.9 percent below a year ago.
The other cheese category grew to 536.1 million pounds, up 7.1 million pounds or 1.4 percent from March and 64.4 million or 13.7 percent above a year ago.
The total cheese inventory stood at 1.35 billion pounds, up 22.1 million pounds or 1.7 percent from March and 43.5 million or 3.3 percent above a year ago.
Courtesy of Mielke Market Weekly
