Mon, 31 Mar 2008 16:42:00 GMT
Farmers are expected to
plant less corn
this year, according to the Department of Agriculture, and that could mean higher bills at the grocery store.
Corn prices have skyrocketed in recent years, helped by the burgeoning ethanol industry, which turns the crop into fuel, and rising worldwide demand for food. The higher prices have hurt poultry, beef and pork companies, who use corn to feed their animals.
Farmers are expected to plant 86 million acres of corn this year, the government predicted Monday, down 8% from 2007, when the amount of corn planted was the highest since World War II. The decreased supply could drive corn prices even higher – a cost for food producers that could be passed on to consumers.
Posted in News
Mon, 31 Mar 2008 14:31:00 GMT
The preliminary
March Milk-Feed-Price Ratio was announced by USDA to be 2.05 . This is the lowest monthly value over the 1985-2008 period. The March ‘07 value was 2.39 and Feb. ‘08 value was 2.24. The prices used in the calculation of this ratio were Allmilk: $18.30, Corn Grain: $4.83, Soybeans $11.90 and Alfalfa Hay: $143.00
Posted in News
Mon, 24 Mar 2008 12:49:00 GMT
Wal-Mart announced today that its
Great Value milk is now being sourced exclusively from cows that have not been treated with artificial growth hormones like recombinant bovine somatotropin (rbST). Sam’s Club is also exclusively offering milk selections from suppliers that have pledged not to treat cows with rbST.
Posted in News
Fri, 21 Mar 2008 14:44:00 GMT
Higher milk prices led to a large increase in 2007 revenue for Dairy Farmers of America
Inc., but the cooperative recorded a
loss for the year due to plant closures and revaluation
of past investments.
Posted in News
Fri, 21 Mar 2008 14:36:00 GMT
The
Advanced Class I Price for April is $18.61. This represents a $1.91 increase over March and a $3.61 over April of 2007.
Posted in Dairy-Related Prices
Fri, 21 Mar 2008 11:42:00 GMT
End of February
manufacturer American cheese stocks increased 24 mil. lbs. to 518.4 mil. lbs. This is 46.7 million lbs. below Feb. ‘07.
Posted in Statistics
Thu, 20 Mar 2008 14:34:00 GMT
According to the latest
WASDE
report, commercial disappearance of milk is forecast to increase 3% in 2008 over 2007 levels.
Posted in News
Thu, 20 Mar 2008 14:17:00 GMT
According to the latest
Livestock, Dairy and Poultry Outlook report, milk production is forecast to increase 2.7% in 2008 over 2007 levels. Cow numbers are forecast to increase by 1%. Lower Milk-Feed price ratios are expected in 2008 and these lower returns may indicate a reduction in the dairy herd by late 2008.
Posted in News
Wed, 19 Mar 2008 13:18:00 GMT
Congress passed a short-term extension last week of current farm programs to enable the completion of negotiations on a new Farm Bill. The extension runs until April 18th. The key sticking point remains how to pay for the measure’s overall spending level which will likely be somewhere between $5 billion and $10 billion over the bill’s baseline spending.
Posted in News
Wed, 19 Mar 2008 12:46:00 GMT
In observance of Good Friday, the CME is closed Friday, March 21. Dairy trading closes at the regular time on Thursday, March 20. Globex trading re-opens at 5pm CT on Sunday (for Monday’s trade date) and the pit re-opens at regular trading hours on Monday morning.
Posted in Announcements
