The World Agricultural Supply and Demand Estimates (WASDE) report from the USDA’s National Agricultural Statistics Service( NASS) was released this week, and not only does the report call for a record corn harvest this year, but the USDA is also projecting to produce the highest-ever milk production levels in both 2013 and 2014.
Milk output for next year is estimated at 204.9 billion pounds, up 400 million pounds from September’s outlook and an increase of 3.2 billion pounds over 2013’s expected production. USDA said producers are expected to increase cow herds in response to improving returns. Growth in milk per cow is also expected to be higher than 2013 as moderating feed costs and improved forage availability support feeding higher quality rations.
U.S. corn growers remain on track for a record-high 14.0 billion-bushel production year, USDA also projected. NASS revised the acreage planted to corn this season to 95.3 million acres, down 2% from the previous estimate, but despite the decrease its production estimate remained high due to high forecasted yields. This season’s yields are expected to average 160.4 bu. per acre, with corn growers in 18 states forecast to reach record yields this year.
The weather also remains good for harvest so far this year, allowing growers to harvest 73% of the corn crop by Nov. 3, which is 2 percentage points ahead of the 5-year average harvest rate. To read more, click HERE.