First Forecasts for 2014/15 in Upcoming Supply, Demand Report

5 May 2014, at 8:07am

US - The next World Agricultural Supply and Demand Estimates (WASDE) report, which will be released at on 9 May, will include USDA's initial assessment of US and world crop supply and demand prospects and US prices for the 2014/15 marketing year.

It will also present the first calendar-year 2015 projections of US livestock, poultry and dairy products.

The 2014 Farm Bill eliminated the Dairy Product Price Support Program and the Dairy Export Incentive Program and created a Dairy Product Donation Program requiring USDA to purchase dairy products for donation to food banks and other feeding programmes during periods of low operating margins for dairy producers.

The WASDE US Milk Supply and Use table has been reformatted because of these changes. The 'CCC Net Removals' subcategories under Fat Basis Use and Skim-solid Basis Use have been changed to 'CCC Donations'. The category for 'CCC product net removals' for butter, cheese, non-fat dry milk and whole milk powder has been eliminated.