Advanced Class I Mover for Sept. Decreases to $17.65
Fri, 22 Aug 2008 14:12:00 GMT
The September Class I Mover is $17.65. This represents a $2.78 decline from the August level and a $4.26 drop from Sept., 2007.
New FMMO Make Allowances Delayed Until Oct. 1st
Fri, 22 Aug 2008 14:02:00 GMT
The following was contained in the August 22, 2008 Announcement of the September Advanced Prices:
“A complaint to enjoin the implementation of the revised manufacturing allowances and butterfat yield factor contained in the Interim Final Rule published in the Federal Register July 31, 2008 (73 FR 44617) was filed in the United States District Court for the District of Columbia. The effective date of the Interim Final Rule will be postponed to October 1, 2008. The revised manufacturing allowances and butterfat yield factor will be used in computing the October 2008 Federal order minimum advance Class I and Class II prices and pricing factors to be announced on September 19, 2008 unless a court order directs otherwise. The revised manufacturing allowances and butterfat yield factor of the Interim Final Rule will be used to compute minimum Federal order Class III and Class IV prices for October 2008 and in the announcement of advanced prices and pricing factors thereafter.”
Lilly To Purchase Monsanto Cow-Hormone Unit For $300M
Wed, 20 Aug 2008 19:02:00 GMT
Eli Lilly & Co. (LLY) agreed to pay $300 million for a Monsanto Co. (MON) business that produces a controversial hormone used to boost milk production in dairy cows. Under the agreement, Lilly will acquire the commercial business for the Posilac brand, including the intellectual property and a Georgia plant. In addition to the $300 million upfront payment, Monsanto will receive “contingent consideration,” the companies said. Monsanto had disclosed plans to sell the unit two weeks ago, without providing details. The announcement came after consumer-health groups had raised questions about the health effects of the hormone, which is a natural protein produced in the pituitary glands of cows. At the time, Monsanto said that sales for Posilac were strong and that the sale of the business wasn’t in response to critics.
U.S. Cheese Exports Increase 47% Over June '07
Wed, 13 Aug 2008 16:14:00 GMT
June total cheese exports were 26.9 million lbs. This represents a 47% increase over June ‘07.
Aug. 2008 WASDE Report Now Available
Tue, 12 Aug 2008 18:25:00 GMT
USDA’s Aug. 2008 WASDE Report is now available for download.
Most Dairy Products Have Higher June Production Levels Compared to 2007
Tue, 05 Aug 2008 12:26:00 GMT
Total cheese production for June was 803.3 mil. lbs. an increase of 1.3% vs. 2007.
Butter production was 119.8 mil. lbs., an increase of 9.0%. NDM/SMP production was 166.1 mil. lbs., an increase of 23.4%. June
Dry whey production decreased 2.3% to 92.5 million lbs.
July Class III is $18.24
Fri, 01 Aug 2008 16:29:00 GMT
The July Announced Class III price is $18.24. This represents a $2.01 drop from the June price and a $3.14 drop from July ‘07.
