Thu, 31 Jul 2008 09:44:00 GMT
The USDA issued an interim final rule updating the manufacturing make-allowance. This decision amends the manufacturing allowances for cheese, nonfat dry milk, and dry whey. This also will increase the butterfat yield factor.
Thu, 31 Jul 2008 09:33:00 GMT
Barrel cheese price fell 28¢, closing at $1.65 with 12 loads sold. This is the largest one-day price decline in history, pushing price to the lowest level since May 16, 2007. Blocks lost 11.25¢ and closed at $1.97.
As a result of the cheese price decline the SEP-JAN milk futures contracts closed down the 75¢ daily limit. Futures contracts in 2009 averaged $18.51 on the close, dropping 47¢ from Tuesday. The 12-mo. average price for 2009 declined $2.08 since June 18.
Wed, 23 Jul 2008 21:23:00 GMT
Since July 17th the CME block barrel spread increased from $0.0300 to $0.1475 today.
Wed, 23 Jul 2008 20:59:00 GMT
End of June commercial butter stocks dropped 13.3 million lbs., the first June contraction since 1999. End of June butter stocks were 256.1 mil. lbs.
Wed, 23 Jul 2008 20:43:00 GMT
Total June commercial natural cheese stocks exceeded 900 mil. lbs. for the 1st time since 1986. Total cheese stocks at the end of June were 905.1 million lbs. an increase of 23.8 mil. lbs. from the prior month.
Fri, 18 Jul 2008 20:59:00 GMT
June Milk production in the 23 major States was 14.7 bil. lbs., up 3.4% from June 2007. June production per cow in the 23 major States averaged 1,737 lbs, 25 pounds above June 2007. The number of milk cows on farms in the 23 major States was 8.46 million head, 158,000 head more than June 2007, and 1,000 head more than May 2008.
Fri, 18 Jul 2008 14:23:00 GMT
Cooperatives Working Together announced on July 17th that it has tentatively accepted 209 bids in its herd retirement program, representing 25,474 cows and 440 million pounds of milk.
Starting next week, CWT field auditors will begin visiting the 209 farms whose bids were accepted, checking their milk production records, inspecting their herds, and tagging each cow for processing. All farmers will be notified no later than August 12th as to whether their bid was among those accepted in this fifth herd retirement round.
Fri, 18 Jul 2008 14:13:00 GMT
The Advance Class I mover for August is $18.47. This represents a $2.31 decline from July and a $2.98 drop from Aug. ‘07
Wed, 16 Jul 2008 13:20:00 GMT
In May, U.S. cheese imports were 27.4 mil. lbs., down 20.8% from May 2007. For the first time, cheese import and export volumes were nearly identical.
Thu, 10 Jul 2008 12:05:00 GMT
The trend of increased month-over-month U.S. cheese exports that started last August continued with the level of cheese exports in April. April cheese exports totaled 13,153 metric tons. This compares to 11,727 metric tons exported in March 8,497 metric tons exported in April ‘08.
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