Thu, 16 Jul 2009 20:55:00 GMT
CME spot Blocks gained 4.75¢ and barrels gained 6.75¢ to $1.1425 today at the CME. As a result the Aug - Dec ‘09 Class III futures settle prices increased an average $0.348 .
Fri, 10 Jul 2009 14:40:00 GMT
Cooperatives Working Together announced Friday that it will conduct its second herd retirement of 2009. In order to have a more immediate impact, CWT is shortening the time frame for producers to submit bids. A maximum bid level is also being announced for this round.
Some points are:
1) Cooperatives Working Together (CWT) announced this morning that it is immediately launching an eighth round, with bids due by July 24.
2) Bids will be accepted up to $5.25/cwt., and producers may once again bid in their bred heifers at $700 per animal.
For the complete news release click here.
Wed, 08 Jul 2009 16:30:00 GMT
Agriculture Secretary Tom Vilsack today announced on Monday allocations under USDA’s Dairy Export Incentive Program (DEIP) for the period July 1, 2009, through June 30, 2010. Of the 2008-2009 DEIP allocations announced in May 2009, 48,176 metric tons of nonfat dry milk; 19,235 metric tons of butterfat; and 2,878 metric tons of cheeses remain uncommitted. These balances will be made available through the issuance of new Invitations for Offers. Country and region quantities may be limited by the individual invitations. Under U.S. World Trade Organization (WTO) commitments, USDA is allowed to provide bonuses for dairy products on a July through June yearly basis of 68,201 metric tons of nonfat dry milk; 21,097 metric tons of butterfat; 3,030 metric tons of various cheeses, and 34 metric tons of other dairy products. The balances being made available through the new Invitations for Offers will count against the 2009-2010 U.S. WTO commitment levels.
For the full press release click here.
Thu, 02 Jul 2009 18:25:00 GMT
Due to the July 4th holiday, the June Announced Class III and IV prices were announced today (instead of tomorrow). The June Class III price is $9.97. This compares to a May value fo $9.84 and a June 2008 value of $20.25.
Thu, 02 Jul 2009 13:49:00 GMT
Cooperatives Working Together has now finished the farm audits of its seventh herd retirement round since the program was started in 2003, removing 101,040 cows that produced almost two billion pounds of milk. At the completion of the on‐farm auditing process at the end of June, CWT removed 367 herds in 41 states, comprised of nearly 101,000 cows that produced 1.96 million pounds of milk. These figures reflect the final number of dairies that successfully were audited in the herd retirement process in May and June. CWT had received 538 bids from 41 states during the bidding process in April. As has been the case with its previous herd retirement rounds, most of the cows removed were in the western regions of the country. This round also removed 818 bred heifers.
For the complete NMPF news release click here.
Wed, 01 Jul 2009 14:38:00 GMT
American farmers have planted their second-largest corn acreage since 1946, the government said Tuesday, shocking traders who thought that cold, wet spring weather in the Midwest had shrunk corn sowings.
Corn plantings rose 1 percent from last year, to 87.035 million acres, the Agriculture Department said, up from March estimates of 84.986 million acres and above trade estimates that averaged 83.961 million acres.
For more detail click here.
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