June Advance Class I Mover is $10.08
Fri, 22 May 2009 13:54:00 GMT
The advance Class I mover was announced this morning to be $10.08. This represents an $0.89 drop from May ‘09 and a $8.10 drop from the June ‘08 level.
More Details Concerning CWT Herd Buyout Program
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.
Weekly Snapshot of U.S. Dairy Industry
Wed, 20 May 2009 20:24:00 GMT
A new feature has been added to the front page of the Understanding Dairy Markets website. Now on the front page is a clickable item that provides a quick look at the status of the U.S. dairy industry. The spreadsheet accessed by clicking the associated icon contains a thumbnail sketch of cash and futures markets. The information contained within the various worksheets is updated weekly. The four worksheets contained in this file are devoted to: (i) Dairy Cash Markets, (ii) Dairy Futures Markets, (iii) Corn and Soybean Futures Markets and (iv) projected MILC Payments.
USDA Publishes Proposed Rules on Assessments on Dairy Imports
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.
April 2009 23-State Milk Production Slightly Higher than April 2008
Mon, 18 May 2009 19:42:00 GMT
According to today’s milk production report, April milk production in the 23 major States was 14.9 bil. lbs., up slightly from April 2008. Prod/cow per cow in the 23 major States averaged 1,758 lbs, 1 lb above April 2008. The no. of milk cows was 8.48 mil., 3000 head less than April 2008, and 2,000 less than March 2009.
Lowest Level of Weekly Sales of NFDM to the CCC Last Week
Mon, 18 May 2009 12:40:00 GMT
For the week ending on May 16th, 1.8 million lbs. of NFDM was sold to the CCC by Western U.S. manufacturers. This was the lowest weekly sales amount for 2009.
Overview of Holstein Association Herd Reduction Plan Available
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.
CWT Buyouts Do Not Translate Into Higher Class III Futures Prices
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.
Latest WASDE Report Show High Feed Costs to Continue
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.
CWT to remove over 100,000 cows, 2 Bil. lbs of milk in its latest herd retirement effort
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.
