Thu, 31 Jan 2008 20:26:00 GMT
Trega Foods, a cheese company that was formed by combining three of Northeast Wisconsin’s oldest cheesemakers, is being sold to a Canadian dairy cooperative. The sale is expected to be finalized by the end of February and will include the company’s three cheese plants in Little Chute, Weyauwega and Luxemburg, company officials said Wednesday. For a more detailed story click here.
Tue, 29 Jan 2008 19:38:00 GMT
Alto Dairy announced today that it has entered into an agreement to sell its assets to Saputo Cheese USA Inc. for total consideration of $160 million. The transaction, which has been unanimously approved by Alto’s Board of Directors, is subject to the approval of the members of the Cooperative. A special meeting of the members will be held in Fond du Lac, Wisconsin on Wednesday, February 27, 2008. Click here for the full news release. For a more complete article, click here.
Sat, 19 Jan 2008 13:59:00 GMT
Dec. Milk production in the 23 major States was 14.4 bil. pounds, up 3.1% from Dec. 2006. November revised production, at 13.8 bil. lbs., was up 3.9% from Nov. 2006. Prod. per cow averaged 1,719 lbs., 29 lbs. above Dec. 2006. The number of milk cows on farms in the 23 major States was 8.38 mil. head, 107,000 more than Dec.r 2006, and 14,000 head more than Nov. 2007.
Tue, 15 Jan 2008 16:58:00 GMT
Corn futures surged to a 12-year high Monday on expectations that world supplies will shrink rapidly amid growing demand for the grain to feed livestock and make alternative fuel.
Other commodities traded mostly higher, with gold and platinum touching record highs and crude oil also making gains.
Investors snapped up corn contracts for a second straight session after the U.S. Department of Agriculture released a bullish report Friday projecting a steep drop in U.S. corn ending stocks. The USDA lowered its ending stocks forecast for 2007-08 to 1.438 billion bushels, down sharply from 1.797 billion.
Tue, 15 Jan 2008 16:49:00 GMT
Kraft Foods Inc. plans to offer cheese free of a controversial growth hormone, a strategic move that pressures competitors to follow.
Northfield-based Kraft says it will start selling a line of cheese made with milk from cows free of rBST by June. Some consumer groups, citing scientific studies, say the production-boosting hormone can cause cancer, despite assurances from U.S. food regulators that it is safe.
Kraft aims to capitalize on consumer worries about food safety with a specialty product that will fetch a higher price than its mass-market cheeses. The new cheese reflects CEO Irene Rosenfeld’s plan to rekindle growth with premium brands.
Fri, 11 Jan 2008 15:56:00 GMT
A Chinese delegation looking to spend $200 million on a dairy improvement project was in Madison on Wednesday looking for suppliers.
Wisconsin agricultural businesses met with representatives from Heilongjiang province in northern China who came to Madison to describe a World Bank project to modernize its dairy industry.
Fri, 11 Jan 2008 15:34:00 GMT
Dry whey futures dropped significantly on Thursday after USDA’s Dairy Market News reported a much weaker whey market. The April 2008 futures contract settled at $0.2925. In the Midwest, dry whey is trading in a range of mostly 31¢-43.25¢, down from 42-44.5¢ a week ago. The midpoint of the range is the lowest it’s been since Sept. 2006
Fri, 11 Jan 2008 15:31:00 GMT
According to the Jan. World Agricultural Supply and Demand Estimate (WASDE) report, for 2008, the Class III price forecast is unchanged from last month. Cheese prices are forecast fractionally higher as demand for cheese is expected to be firm. The Class IV price for 2008 is forecast lower. The price forecasts for butter and NDM are reduced as inventories of those products are large. The all milk price forecast for 2008 is lowered slightly to $17.90 to $18.70 per cwt. The 2007 all milk price is estimated at $19.15.
Mon, 07 Jan 2008 20:43:00 GMT
In reaction to the drop in cheese and butter prices today, the Class III futures market saw significant declines in near term futures contracts. Near limit reductions were observed for Jan and Feb. 08 contracts.
Thu, 20 Dec 2007 13:21:00 GMT
FCStone Group, Inc. (NASDAQ:FCSX), a commodity risk management firm, announced today the acquisition of Downes-O’Neill, LLC, a registered brokerage group and risk management consulting firm specializing in servicing the dairy industry.
The all-cash transaction is expected to close in early 2008 and should be immediately accretive to earnings. Downes-O’Neill is a highly complementary business to FCStone’s existing platform, which should facilitate a smooth integration going forward.
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