Fri, 10 Oct 2008 11:38:00 GMT
There has been a total of 6,363,209 lbs. of non-fortified nonfat dry milk purchased by the CCC under the price support program in spite of the current support price for non-fortified is 80¢ per lb. This is the first nonfat dry milk purchase by the CCC under the support program since July 17, 2006. The spot price for NFDM at the CME today was $1.00
Fri, 03 Oct 2008 11:56:00 GMT
DEC corn futures dropped the 30-cent limit yesterday, closing at $4.54/bushel, on the economic concerns and the impact it could have
on demand. This is the lowest close of the contract since Dec. 19.
NOV soybeans fell 49¢ to $10.04/bushel.
Mon, 29 Sep 2008 16:27:00 GMT
The ERS released its estimates of the August Feed cost per cwt of milk data. This information is available for the U.S. as a whole and for the 21 major milk producing states. As an example, for Wisconsin, the August feed cost is estimated to be $11.35. In January this value was $8.79 .
Mon, 29 Sep 2008 14:56:00 GMT
Trade officials from the US, New Zealand and three other countries on Monday announced the launch of negotiations for the US to join the comprehensive Trans-Pacific Strategic Economic Partnership Agreement. Dairy and farm organizations from New Zealand welcomed the announcement, while the National Milk Producers Federation (NMPF) said it would seek the full exlusion of New Zealand’s dairy products under the trade agreement because of what it called the New Zealand dairy industry’s unique structure and “excessive manipulation” of dairy markets globally and in the US.
Mon, 29 Sep 2008 14:50:00 GMT
With the release of the Oct. advanced prices, the new make allowances were allowed to go into effect.
US District Judge Emmet G. Sullivan on Sept. 19th denied a request from several dairy cooperatives and dairy farmers for a preliminary injunction against new federal milk marketing order make allowances. Sullivan’s ruling was quickly appealed, but a three-judge panel of the US Court of Appeals for the District of Columbia denied the emergency motion for an injunction pending appeal.
For more detail concerning the denial of the Federal Injunction request, click here.
Mon, 29 Sep 2008 12:17:00 GMT
For an extended news article about the China milk situation, click here.
Thu, 18 Sep 2008 11:31:00 GMT
Yesterday, the USDA published the following news release: The announcement of “Advanced Prices and Pricing Factors” for the month of October 2008, originally scheduled for Friday, September 19, 2008, will now be made by Tuesday, September 23, 2008. USDA agreed to delay the announcement at the request of the U.S. District Court for the District of Columbia in order to provide sufficient opportunity for consideration of the motion for preliminary injunction pending before that Court, which seeks to enjoin implementation of the revised manufacturing allowances contained in the Interim Final Rule published in the Federal Register July 31, 2008 (73 FR 44617). The announcement of September Class III and Class IV prices and the Class II butter price scheduled for October 3, 2008 will not be affected by this delay.
Sun, 14 Sep 2008 14:21:00 GMT
July U.S. Dried Whey Exports were estimated to be 34,692 metric tonnes (MT). This represents a 38% increase over amount exported during June. So far in 2008, dried whey exports are estimated to be 190,415 MT, a 16% decrease versus the similar period in 2007. July Cheese exports were 10,915 MT, an increase of 63% from Jul 07. July Butter exports were 7,074 MT, approximately 1,300 MT below the Jun 08 level.
Sun, 14 Sep 2008 13:57:00 GMT
New Mexico has lost its status as a bovine tuberculosis-free state, a decision state officials say is excessive and could cost ranching and dairy operations unnecessary tests.
The U.S. Department of Agriculture, in a notice published in Thursday’s Federal Register, said that because two infected herds had been found in New Mexico’s accredited free-zone since May 2007, it no longer met federal requirements and the state had to be downgraded.
Sun, 14 Sep 2008 13:50:00 GMT
The Sept. WASDE report was released on Sept. 12th. Included in this report is the latest USDA forecasts of U.S. milk production and dairy-related prices for 2009. The mid-points of the revised forecasts are: Cheddar Cheese, $1.890; butter, $1.415; nonfat, $1.490 and whey, $0.275. These price reductions were the result of an an upward revision in USDA’s milk production estimate.
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