Mon, 08 Jun 2009 20:54:00 GMT
As reported in today’s Daily Dairy Report, the EU increased export subsidies for butter by 18%, SMP by 11% and WMP by 7%. Using current exchange rates, these subsidies are 41¢/lb. for butter, 13¢/lb. for SMP, 20¢/lb. for WMP and 14¢/lb. for cheese. The Cheese subsidy was not changed.
Fri, 29 May 2009 11:46:00 GMT
USDA released yesterday their 2008 Annual Dairy Products production summary report. This report has been added to the website and can be obtained by clicking here. In this report it shows that total cheese production in 2008 was 9.93 bil. lbs, with Wisconsin being the leading producer producing 25.4% of the U.S. total.
Fri, 22 May 2009 17:58:00 GMT
Agriculture Secretary Tom Vilsack today announced allocations under USDA’s Dairy Export Incentive Program for the July 2008 through June 30, 2009 period, as allowed under the rules of the World Trade Organization. The program helps U.S. dairy exporters meet prevailing world prices and encourages the development of international export markets in areas where U.S. dairy products are not competitive due to subsidized dairy products from other countries.
The Dairy Export Incentive Program allocations 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, as well as individual product and country allocations will be made available through Invitations for Offers. Country and region quantities may be limited by the invitation.
For more detail, click here.
Fri, 22 May 2009 11:24:00 GMT
CWT’s field auditors have begun visiting the 388 farms that have been tentatively accepted in the program’s seventh herd retirement, as they initiate the process this week of removing nearly 103,000 cows that produced two billion pounds of milk last year.
CWT officials released more detailed information about the size and scope of the self-help program’s largest-ever herd retirement program. 60 percent of the farms selected are located east of the Mississippi River, while 79 percent of the 103,000 cows to be removed come from the Western and Southwest regions of the U.S. 81 percent of the milk removed will come from those two regions, a portion slightly higher than in the six previous CWT rounds. The Midwest accounted for 8% of milk accepted and 8% of cows accepted.
For more detail, click here.
Tue, 19 May 2009 15:19:00 GMT
The USDA in today’s Federal Register, published a proposed rule on the assessment on all dairy-based imports as specified in the 2008 Farm Bill. Interested parties will have 30 days to submit comments. The proposal will assess the equivalent of 7.5 cent per hundredweight on all dairy-based imports, including cheese and butter products, as well as dry ingredients such as casein and milk protein concentrates. The assessment will be collected by the National Dairy Board to be used for nutrition research, consumer education, issues management, and other programs that build demand for dairy consumption.
Mon, 18 May 2009 12:26:00 GMT
The Holstein Association has made available a summary of their supply management proposal. Click here to download this proposal.
Fri, 15 May 2009 11:05:00 GMT
After Wednesday’s CWT based rally, milk futures dropped back yesterday. June through October ‘09 all declined at least 20¢, giving back most of the gains.
Thu, 14 May 2009 13:15:00 GMT
The USDA said Tuesday in its first official projections of this year’s crops that it expects a season-average price of corn to be harvested in the fall of $4.10 a bushel, give or take 40 cents a bushel. While that price is far less than the $7.50 that corn briefly neared last June, it is just a dime less than the record season-average price for the 2007 crop.
Likewise, the USDA expects the season-average price of the 2009 soybean crop to fluctuate around $9.45 a bushel, give or take a dollar, a midpoint that is just 4% less than the price of the crop harvested last fall.
For the complete WASDE report click here.
Wed, 13 May 2009 19:37:00 GMT
The CWT announced today that it has tentatively accepted 388 bids representing 102,898 cows and 2 bil. lbs. of milk production capacity in the first of a series of herd retirements planned over the next twelve months. The number of cows and pounds of milk represent the largest single herd retirement carried out in the six year history of CWT. For more detail concerning this rounds of herd reduction, click here.
Wed, 13 May 2009 12:59:00 GMT
Data concerning March U.S. export and import sales values were released yesterday by USDA. They show a 39.6% drop in 1st quarter value of dairy exports and a 7.6% increase in 1st quarter value of dairy imports.
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