The CME Block Price Almost Passes the $2.00 Barrier
Mon, 12 May 2008 12:48:00 GMT
The CME block price closed at $1.9975 on Friday. For the week, the average closing price was $1.9680.
Cheese Exports Continue to Increase
Mon, 12 May 2008 12:33:00 GMT
According to the latest trade data released by the USDA, U.S. cheese exports continue to grow and the cheese trade deficit is significantly reduced. For the 1st quarter of 2008, 33,208 metric tonnes of cheese was exported. This is a 54% increase over the 2007 quantity exported over the same period. In value terms cheese exports increased 84% over the 2007 level.
Negotiators Agree on Farm Bill, but a Presidential Veto is Promised
Fri, 09 May 2008 14:47:00 GMT
House and Senate negotiators yesterday reached final agreement on a new farm bill that will spend close to $300 billion on nutrition, conservation, energy and farm subsidy programs over the next five years, but administration officials immediately announced that President Bush will veto it. A PDF reviewing all commodity programs can be found here. A description of just the Dairy Title can be found here.
May WASDE Report Released With New Dairy Price Projections
Fri, 09 May 2008 13:02:00 GMT
The May World Agricultural Supply and Demand Estimates report was released this morning by USDA. The midrange All-Milk price projections for the remaining 3 quarters of 2008 are: $17.85, $17.50 and $18.25. The projected All-Milk price for all of 2008 is $18.20. For the 1st quarter of 2009 the projected All-Milk price is $18.35 .
Monthly Average Difference in CME Block - Barrel Prices Now Available
Wed, 07 May 2008 22:08:00 GMT
A new data series has been added to our database that consists of the difference between CME spot Block - Barrel prices. For April 2008 this average difference was $0.0816 compared to -$0.0517 in January.
May '08 - April '09 Class III Futures Average $19.5350
Wed, 07 May 2008 21:35:00 GMT
The average Class III settle price for today was $19.5350 . The average value over the August-December period was $20.1140.
The Convergence of the CME Block and Barrel Prices Continue
Wed, 07 May 2008 21:10:00 GMT
The CME block price closed at $1.9625 today while the barrel price closed at $1.9600. For the 1st 5 trading days in May, the average block price has been $1.9525 and an average barrel price of $1.9460, an average difference of $0.0065 .
ERS Monthly Feed Costs Estimates Added to Our Database
Tue, 06 May 2008 21:22:00 GMT
State-specific total feed costs (including the value of home grown feed) estimated by USDA-ERS has been added to our monthly database.
March Dairy Products Report Released
Mon, 05 May 2008 20:31:00 GMT
Total March cheese output was 834 mil. lbs., 0.7% below March 2007. Italian type cheese production was 358 mil. lbs., 1.2% below March 2007. American type cheese production was 340 mil. lb, 0.3 percent above March 2007. Butter production was 154 mil. lbs, 11.5% above March 2007.
The Apirl Announced Class III Price is $16.76
Fri, 02 May 2008 14:35:00 GMT
The Announced Class III price for April is $16.76. This compares with $18.00 for March and $16.09 for April, 2007. A full copy of this report can be found by clicking here.
