Fri, 10 Oct 2008 13:37:00 GMT
Today’s Dairy Products Report provides further evidence of the weakening of the milk protein markets. Weekly average NFDM prices decreased from $1.172 to $1.065 over the Sept. 27th-Oct 4th period. Over this same period, average U.S. dry whey prices decreased from $0.210 to $0.202 .
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
Tue, 07 Oct 2008 11:38:00 GMT
The Sept. CA 4b price is $16.63 and the Sept. FMMO Class III price is $16.28. The 4b price is $0.49 above the August level and $3.06 lower than Sept. 2007. The Sept. Class III price represents a $1.04 decline from its August value and a $3.79 decrease from Sept. 2007.
Mon, 06 Oct 2008 13:08:00 GMT
Total August cheese production was up 3.0% over 2007 levels. American cheese output increased 8.6%. Mozzarella cheese output was down 2.8% which follows the trend observed every month during 2008. Butter prod. was up 4.4%. NFDM output increased 14.0% and SMP prod. increased 48.7%. Whey production was down 7.2% which is the pattern for all of the 2007. For more detail refer to the Dairy Production section of the website.
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.
Wed, 01 Oct 2008 11:44:00 GMT
CME spot block and barrel cheese prices recorded double-digit losses yesterday. Blocks decreased 12.75¢ to $1.8050, the largest one day decline since July 31st. Barrels decreased 14.00¢ to $1.7700, the largest one day decline since Dec. 19th.
Mon, 29 Sep 2008 22:11:00 GMT
4th quarter Class III contracts dropped 63¢, erasing most of Sept.’s gains. Contracts covering the first half of 2009 fell 47¢ to an average of $16.00.
Corn and soybean futures were limit-down today at -30¢ and -70¢, respectively. The U.S. stock markets fell 7-9% after the House failed to pass legislation aimed at bailing out the troubled financial sector.
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.
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