MILC Payements Forecasted for 2009 and 1st Half of 2010
Wed, 31 Dec 2008 17:14:00 GMT
Using the futures prices available on Dec. 30th, we have forecast possible MILC payments over 2009 and 2010. These estimates can be obtained by clicking here.
No MILC Payment for November
Wed, 31 Dec 2008 13:07:00 GMT
With the release of USDA’s December Agricultural Prices report, the final Nov. feed costs values necessary for the MILC feed cost adjuster is available. Our estimates are given the Nov. Class I mover of $17.33/cwt, a Nov. corn price of $4.26/bu, a Nov. soybean price of $9.38/bu and an alfalfa baled hay price of $163/ton there will be no Nov. MILC payment.
Dec. Milk-Feed Price Ratio Drops to 1.97
Wed, 31 Dec 2008 13:04:00 GMT
The preliminary decreased to 1.97 from a Nov. level of 2.02. This value compares to the Dec. ‘07 value of 2.85.Significant Drop in Cash and Futures Markets Yesterday
Wed, 31 Dec 2008 12:53:00 GMT
The CME spot price for block cheese fell 8.5 cents yesterday to close the year at $1.1825, only 5 cents about Support level. The barrel price fell 6 cents to $1.2475 . The futures markets reacted accordingly. The Jan-Jun ‘09 futures contracts fell by an average of 50.6 cents and the Jul-Dec ‘09 futures fell by an average 41.0 cents.
USDA Denies NMPF Dec '06 Request to Change Class I and II Formulas
Wed, 24 Dec 2008 14:08:00 GMT
To be published in Today’s Federal Register - a decision denying the Dec 2006 hearing proposals to increase Class I and II prices, and decouple them from Class III - IV formulas. The decision is available by clicking here.
MILC Sign-up to Begin Dec. 22nd
Mon, 22 Dec 2008 14:57:00 GMT
USDA’s Farm Service Agency (FSA) announced that signup for the Milk Income Loss Contract Program (MILC) begins Dec 22 and will continue through the program’s expiration date, Sept 30, 2012. For more detail click here.
California Decides to Reduce Class 1, 2 and 3 Prices
Mon, 22 Dec 2008 12:29:00 GMT
The California Department of Food and Agriculture (CDFA) last Wednesday decided to reduce the state’s Class 1 price approximately 35 cents per hundredweight and reduce the Class 2 and 3 prices by about 26 cents per hundred. The changes will take effect for milk delivered to processing plants on or after January 1, 2009. Click here to obtain the final industry notice.
DFA, Two Former Executives to Pay $12 Mil. to Settle CFTC Charges
Mon, 22 Dec 2008 12:13:00 GMT
Dairy Farmers of America (DFA), its former chief executive officer Gary Hanman, and its former chief financial officer Gerald Bos will pay a $12 million civil monetary penalty for attempting to manipulate the Class III milk futures contract and exceeding speculative position limits in that contract, the US Commodity Futures Trading Commission (CFTC) announced last Tuesday.
Prof. Cropp's Dec. Outlook Report Available
Sat, 20 Dec 2008 20:17:00 GMT
Prof. Bob Cropp’s Dec. Outlook Report is available for download from the Dairy Situation section of the website.
Jan. '09 Advance Class I Price is $15.74
Fri, 19 Dec 2008 18:05:00 GMT
The USDA announced the Advanced Class I price for Jan. ‘09 today as $15.74. This represents a $0.31 increase from Dec. ‘08 and a $5.23 decrease from Jan. ‘08.
