Mon, 08 Aug 2011 16:59:00 GMT
The recent increase in volatility of the grain markets has generated considerable interest in the management of dairy margins (i.e., income over feed costs). Two graphs showing the importance of feed costs and the relative volatility of feed versus milk prices can be obtained by clicking here. For a spreadsheet showing the average U.S. cost of a 16% dairy ration click here.
Fri, 15 Jul 2011 15:51:00 GMT
The NMPF responds to IDFA CEO Connie Tipton’s comments with respect to Rep. Peterson’s dairy policy proposal. To obtain the NMPF comments click here.
Fri, 15 Jul 2011 15:46:00 GMT
IDFA President and CEO Connie Tipton provides some comments concerning Rep. Petersen’s dairy policy reform draft proposal. For the full set of comments click here
Fri, 15 Jul 2011 15:31:00 GMT
Rep. Petersen yesterday released a draft of a dairy policy reform bill that closely mirrors that of the National Milk Producer’s Federation. For a copy of this bill draft, click here.
Mon, 11 Jul 2011 13:43:00 GMT
Last week, the California Department of Food and Agriculture (CDFA) held a hearing to consider amending the minimum price formulas for milk sold to Class 4a (butter powder) and Class 4b (cheese/whey) manufacturing plants. More than 20 producer and processor organizations/individuals provided testimony at the hearing.
For a more complete story click here.
Thu, 07 Jul 2011 11:38:00 GMT
With the political climate in Washington, D.C., dominated by calls for austerity and debate over the debt ceiling, all aspects of the federal budget are open for reductions, including agriculture. Farm groups and members of Congress have expressed concerns about the depth of cuts targeted at agriculture and how this could impact timing for the 2012 Farm Bill reauthorization.
For the full story click here.
Wed, 06 Jul 2011 14:56:00 GMT
U.S. grain futures surged as traders saw signs that foreigners were re-entering the markets after last week’s steep losses.
The U.S. is the world’s largest exporter of corn and wheat, and when futures prices fall, foreign buyers step in to secure the grains they need. Last week, corn sank to 3½-month lows and wheat reached its lowest level in almost a year.
On Tuesday, corn for July delivery climbed 39.75 cents, or 6.2%, to settle at $6.8050 a bushel. The contract wasn’t subject to the typical 30-cent limit on gains at the Chicago Board of Trade because it is expiring next week. Corn for December delivery, the most actively traded contract, rose 15.75 cents, or 2.6%, to $6.1250 a bushel
For the full story click here.
Mon, 27 Jun 2011 22:16:00 GMT
Favorable weather has helped New Zealand farmers post strong late-season production. Over the January-April period, New Zealand milk production was up 9.3% from last year (including a 33.3% jump in April), according to industry figures. Output for the year ending May 2011 is projected to be up 4-5% from the 2009/10season. During the first four months of 2011, NZ Whole Milk Powder exports were up 38%. Exports of Skim Milk Powder and cheese were lower and shipments of butterfat were flat compared with 2010 levels.
Tue, 21 Jun 2011 15:05:00 GMT
After a disastrous 2009, when dairy farms lost an average $386 per cow, the industry bounced back in 2010, earning an average of $396 per cow, Farm Credit East reported. That represents a $782 swing per cow, according to a report from Farm Credit East, the Northeast’s largest agricultural lending cooperative.
For the full story click here.
Fri, 17 Jun 2011 12:42:00 GMT
The Senate voted Thursday to do just that, and even though the amendment is attached to a bill that probably won’t pass, the 73-27 vote sends a message that many Democrats and Republicans are behind an idea supported by an odd coalition that ranges from Tea Partyers to the Sierra Club.
Thirty-three Republicans joined 40 Democrats in voting to eliminate the subsidy.
Provided in the form of tax credits, the subsidy gives 45 cents a gallon to refiners who use ethanol, a renewable fuel additive that comes mainly from corn in the U.S.
These tax breaks long have been supported as a way to reduce oil imports by politicians in both parties — emphatically so for many who run for president and look to woo the farm vote.
For the complete story click here.
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