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.”
Posted in News
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.
Posted in News
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.
Posted in News
Tue, 12 Aug 2008 18:25:00 GMT
USDA’s Aug. 2008
WASDE Report is now available for download.
Posted in News
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.
Posted in News
Thu, 31 Jul 2008 09:44:00 GMT
The USDA issued an interim final rule updating the manufacturing make-allowance. This decision amends the
manufacturing allowances for cheese, nonfat dry milk, and dry whey. This also will increase the butterfat yield factor.
Posted in News
Thu, 31 Jul 2008 09:33:00 GMT
Barrel cheese price
fell 28¢, closing at $1.65 with 12 loads sold.
This is the largest one-day price decline in history, pushing price to
the lowest level since May 16, 2007. Blocks
lost 11.25¢ and closed at $1.97.
As a result of the cheese price decline the SEP-JAN
milk futures contracts closed down the 75¢ daily limit. Futures contracts in 2009 averaged $18.51 on
the close, dropping 47¢ from Tuesday. The 12-mo. average price
for 2009 declined $2.08 since June 18.
Posted in News
Fri, 18 Jul 2008 14:23:00 GMT
Cooperatives Working Together announced on July 17th that it has tentatively
accepted 209 bids in its herd retirement program, representing 25,474 cows and 440 million pounds of milk.
Starting next week, CWT field auditors will begin visiting the 209 farms whose bids were accepted, checking their milk production records, inspecting their herds, and tagging each cow for processing. All farmers will be notified no later than August 12th as to whether their bid was among those accepted in this fifth herd retirement round.
Posted in News
Wed, 16 Jul 2008 13:20:00 GMT
In May, U.S.
cheese imports were 27.4 mil. lbs., down 20.8%
from May 2007. For the
first time, cheese import and export volumes were nearly identical.
Posted in News
Thu, 10 Jul 2008 12:05:00 GMT
The trend of increased month-over-month
U.S. cheese exports that started last August continued with the level of cheese exports in April. April cheese exports totaled 13,153 metric tons. This compares to 11,727 metric tons exported in March 8,497 metric tons exported in April ‘08.
Posted in News
