May Class III Price Increases to $18.18
Fri, 30 May 2008 14:00:00 GMT
The May 2008 Class III price was announced today to be $18.18 which represents a $1.42 increase from the April value. The May ‘07 value was $17.60.
Dairy Title to 2008 Farm Bill Available
Wed, 28 May 2008 19:33:00 GMT
For those interested in obtaining just the Dairy Title to the 2008 Farm Bill click here.
Recommended Browsers to View this Site
Fri, 23 May 2008 19:51:00 GMT
Given its limitation, it is recommended that you not use Internet Explorer Version 6 to view this site. You should use Version 7 of IE, Firefox or Safari.
June Advanced Class I Price is $18.18
Fri, 23 May 2008 14:38:00 GMT
The Advanced Class I price for June is $18.18 . This represents and increase of $1.56 from May’s level and a $0.34 increase from June ‘07.
Prof. Cropp's May Outlook Report Available
Thu, 22 May 2008 14:36:00 GMT
The May Dairy Outlook Report authored by Emeritus Prof. Bob Cropp is available for downloading.
08 Farm Bill Needs to be Voted on Again Due to Technical Error
Thu, 22 May 2008 13:53:00 GMT
Members from both parties hoped to bring the $290 billion bill, which includes election-year subsidies for farmers and food stamps for the poor, back to their districts over Memorial Day. But that is looking less likely now that the legislation will have to be passed all over again due to a printing error.
The House voted overwhelmingly, 316-108, on Wednesday to override Bush’s veto of the legislation earlier in the day. The Senate then was expected to follow suit quickly, but action stalled after the discovery that a 34-page section of the bill had been omitted from the printed bill sent to the White House. That means Bush vetoed a different bill from the one Congress passed, raising questions that the eventual law would be unconstitutional.
CME Blocks Set a New Record High
Wed, 21 May 2008 20:41:00 GMT
The CME Block cheese market hit a new record high with an unfilled bid took the block price up to $2.25. For barrels an unfilled bid took the price to $2.19. Blocks gained 12¢ on the day , barrels gained 10¢. The previous records were $2.2025 for blocks (Nov. 28, 2007), and $2.17 for barrels (April 19, 2004).
President Bush Vetos the 2008 Farm Bill
Wed, 21 May 2008 19:32:00 GMT
Today the President vetoed the 2008 Farm Bill. Since Congress is in recess until next Tuesday, the override attempt will not happen until sometime after then.
CME Cheese Prices Continue to Increase
Wed, 21 May 2008 11:58:00 GMT
For the 12th consecutive trading day, the CME spot block price increased yesterday closing at $2.13, an increase of $0.0125. The barrel price increased $0.0450 to $2.0900.
Plantings Increasing at a Slow Pace
Wed, 21 May 2008 11:50:00 GMT
According to USDA, for the week of May 18, 73% of this year’s corn crop was planted, up from 51% the prior week. This is still below the 5-year average of 88% for this date. Only about 26% of the corn has emerged so far, vs. a 5-year average of 56%. For soybeans, 27% have been planted, compared with a 5-year average of 47%.
