Mon, 27 Jun 2011 14:25:00 GMT
Spot butter was offered 2¢ lower to finish the week 8¢ last week from the previous week. Butter futures continued to decrease with AUG-NOV falling 9.75¢ from previous week. Blocks and barrels each increased a penny last week. Class III futures were down from a week ago in all but the first few contract-months, including a 63¢ drop in DEC. However, JUL closed at a new high of $20.28 today. For a summary of the CME spot sales click here. For last week’s futures settlement prices click here.
Posted in Dairy-Related Prices
Tue, 21 Jun 2011 15:05:00 GMT
After a disastrous 2009, when dairy farms lost an average $386 per cow, the industry bounced back in 2010, earning an average of $396 per cow, Farm Credit East reported.
That represents a $782 swing per cow, according to a report from Farm Credit East, the Northeast’s largest agricultural lending cooperative.
For the full story click here.
Posted in News
Fri, 17 Jun 2011 12:42:00 GMT
The Senate voted Thursday to do just that, and even though the amendment is attached to a bill that probably won’t pass, the 73-27 vote sends a message that many Democrats and Republicans are behind an idea supported by an odd coalition that ranges from Tea Partyers to the Sierra Club.
Thirty-three Republicans joined 40 Democrats in voting to eliminate the subsidy.
Provided in the form of tax credits, the subsidy gives 45 cents a gallon to refiners who use ethanol, a renewable fuel additive that comes mainly from corn in the U.S.
These tax breaks long have been supported as a way to reduce oil imports by politicians in both parties — emphatically so for many who run for president and look to woo the farm vote.
For the complete story click here.
Posted in News
Thu, 16 Jun 2011 18:04:00 GMT
Senator Debbie Stabenow (D-MI), Chair of the Senate Committee on Agriculture, essentially closed the door on Senate Ag Committee consideration this year of sweeping dairy policy reforms. In remarks to farm broadcasters, Stabenow said a continuing lack of unity within the dairy industry on NMPF’s Foundation for the Future proposal is the reason. For an audio clip click here.
Posted in News
Wed, 15 Jun 2011 17:06:00 GMT
On June 15, the Federal Register contained the preliminary rules for implementing the Mandatory Reporting Act of 2010. To obtain the preliminary rules click here.
Posted in News
Mon, 13 Jun 2011 22:31:00 GMT
The members of CWT voted last week to
renew the program for two years – starting in January 2012, and running through 2013 – once a 70% milk level participation level is reached. Current membership pledges equal 68% of the milk supply. Once the 70% threshold is reached, the 2¢/cwt. membership dues assessment will be collected starting in January 2012.
Posted in News
Mon, 13 Jun 2011 22:26:00 GMT
The USDA published a proposed rule for mandatory dairy product price reporting in Friday’s Federal Register. This rule will transfer the dairy product prices program from the National Agricultural Statistics Service to the Agricultural Marketing Service (AMS), as NMPF had originally proposed; require plants to report prices electronically; move up the plant reporting deadline by one day, to Tuesday at noon, for products sold the week before ending with Saturday; and specify the deadline for publication by AMS at 3 p.m. on Wednesday. Comments on this proposed rule are due August 9.
Posted in News
Tue, 07 Jun 2011 12:24:00 GMT
NMPF will be hosting a series of summer meetings to educate dairy producers about the Foundation for the Future program. A list of the dates and locations can be found here. A link to register for one or more of the meetings can be accessed by clicking here.
Posted in News
Tue, 07 Jun 2011 12:17:00 GMT
House Agriculture Committee Ranking Member Collin Peterson, D-Minn., wants to reform federal dairy policy ahead of the 2012 Farm Bill debate.
“If we have another downturn in prices we don’t have a safety net that works in dairy,” Peterson said. “If we get another deal like we did in ‘09 we’re going to lose half our dairy farmers, and we’re never going to get them back. So I don’t think it is an option to wait.”
Peterson backs the National Milk Producers Federation’s dairy market stabilization program, dubbed Foundation for the Future, and says a just-completed Congressional Budget Office scoring shows the proposal would cost taxpayers less than existing dairy policy and therefore would not add to the budget deficit, thus satisfying a key demand of House Republican leaders.
For more detail click here.
Posted in News
Fri, 18 Mar 2011 12:06:00 GMT
Rabobank has released its March dairy outlook report. The view this report click here.
Below is a summary of this report:
· International dairy commodity prices rose sharply through most of Q1 2011, before a sudden contraction wiped off around half the gains in mid-March.
· Pricing appears to have been initially squeezed up by improving demand, a poor Southern Hemisphere summer and a series of supply shocks in importing regions, before the devastating events in Japan rocked market sentiment, slashed grains futures, and sent dairy prices downwards.
· Assuming the Japanese nuclear crisis is brought under control, we expect that the net impact of the earthquake and tsunami will prove relatively limited for dairy.
· Much will depend on this, with other factors pointing to continued market tightness through Q2 2011, backed by improving consumption, ongoing shortages in key import regions and our expectations of a rebound in grain costs.
· Thus while sentiment may play a dominant role in setting market direction in coming weeks, Rabobank expects market fundamentals will reassert themselves and continue to sustain international prices at close to the levels evident in mid-March as we progress through Q2.
Posted in News
