Wed, 21 Nov 2007 13:29:00 GMT
CME blocks traded a nickel higher yesterday to tie the all-time record of $2.20 set in April 2004. Barrels increased 2ยข to $2.06. Late holiday orders and strong export demand are keeping supplies tight.
Mon, 19 Nov 2007 16:33:00 GMT
A continued building of the dairy herd and good milk per cow keeps milk production well above year ago levels. For the 23 reporting states, October milk cow numbers were 1.2% higher than a year ago and milk per cow was 2.8% higher resulting in 4.1% more milk production. Cow numbers have been higher than the month before each month beginning with May.
Mon, 19 Nov 2007 16:27:00 GMT
Several Democratic senators gathered Friday to tell reporters that there is still time this year for the Senate to approve its $286 billion 2007 farm bill and then merge it with a House version and send it to the White House.
Democrats and a few Republicans in the Senate who wanted to break a filibuster blocking passage of the 2007 farm bill were delivered a blow Friday when a measure to invoke cloture and force a vote failed.
But Senate Agriculture Committee Chairman Tom Harkin, D-Iowa, reversed earlier pessimistic forecasts, saying, “I want to assure everyone that we have not given up. This is just the first round.”
Earlier Friday, before the cloture vote, Harkin warned: “It won’t happen if we don’t get cloture. If we don’t get cloture, my friends, there probably won’t be any farm bill.”
Later, though, he told reporters a lot of negotiating would be taking place over the Senate’s two-week Thanksgiving break.
“This bill is going to get done,” he said, although he mentioned the possibility that it might “slip into next year” before that happens.
Mon, 19 Nov 2007 16:22:00 GMT
Canadian cattle over 30 months of age will be allowed into the U.S. market starting Monday, despite criticism from some domestic ranchers worried about mad cow disease.
No one knows for sure how the decision will affect U.S. ranchers or foreign markets, which have yet to fully recover from the discovery of an infected cow in 2003.
One cattlemen’s group didn’t wait to find out, filing an emergency request Friday for a temporary restraining order to block the rule from taking effect.
In May 2003, the United States closed the border to cattle imports from Canada after an Alberta cow was confirmed with mad cow disease, known scientifically as bovine spongiform encephalopathy, or BSE.
The border between the world’s largest trade partners reopened for Canadian beef from younger cattle within months of the original ban, and live cattle under the age of 30 months have been allowed to move across the border since July 2005.
But the border has remained closed to older cattle until now. Agriculture officials have said the change is firmly based in science and ensures that U.S. regulators will protect the country against the disease.
Wed, 14 Nov 2007 13:20:00 GMT
Scientists and a former cheese plant manager from Stratford, Wis., are studying the feasibility of making ethanol from whey left over from cheese-making.
Mon, 12 Nov 2007 21:46:00 GMT
As an announcement, the 4 and 10 digit FATUS trade data is current, containing trade data for Sept. There is an error in our code and the 6 digit data is not up to date. We are currently working on the problem.
Thu, 08 Nov 2007 14:06:00 GMT
The CME spot cheese price increased $0.035 to $2.0350 yesterday. This is the 9th straight trading day the price was over $2.00 .
Thu, 08 Nov 2007 14:02:00 GMT
Over the last 7 trading days, the CME spot butter price has increased $0.06 to $1.3600 .
Wed, 07 Nov 2007 16:16:00 GMT
Dairy products maker Saputo Inc. plans to continue expanding as a global player as it reported a second-quarter profit of $62.5 million - or $65.5 million excluding a one-time tax charge.
That compares with year-ago earnings of $58.3 million. However, shares closed lower Tuesday on the Toronto Stock Exchange at $53.10, down $4.01 or seven per cent.
Chairman Lino Saputo recalled problems in the global dairy market during a conference call, but insisted the company is positioned to succeed.
“We intend to pursue our expansion and become an even stronger player in the global dairy industry,” said Saputo during a conference call with analysts
Wed, 07 Nov 2007 16:02:00 GMT
Burrito chain Chipotle Mexican Grill Inc. said Monday it will no longer serve cheese made with milk from cows treated with growth hormone rBGH.
The synthetic hormone, which stimulates milk production in dairy cows, has sparked controversy since it was first approved by the Food and Drug Administration in 1993. Farmers can produce more milk per cow and thereby take in more revenue by using the hormone, but advocacy groups have questioned its effects on humans.
Chipotle said it is the first national restaurant chain to get rid of rBGH entirely from its menu items.
The chain said it began using rBGH-free sour cream last year and has begun switching to rBGH-free cheese. The switch will be complete by the end of the year, the company said.
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