Latest WASDE Report Added to the Website
Tue, 10 Jun 2008 14:32:00 GMT
The latest World Agricultural Supply and Demand Estimates report has been added to our website database.
Corn Futures Increase to Settle at More than $7.00
Mon, 09 Jun 2008 18:49:00 GMT
The remaining ‘08 corn futures contracts and the Jul ‘08-Jul ‘09 contracts finished higher today with the May and Jul 2009 contracts closing at more than $7.00 . The July ‘09 corn futures settled at $7.092/bushel.
New Fact Sheets Added Describing the ACRE Program and Dairy Title
Mon, 09 Jun 2008 18:20:00 GMT
A summary Fact Sheet describing the Average Crop Revenue Election (ACRE) program has been added to the 2008 Farm Bill section of this website. A fact sheet summarizing the important elements of Title IV (Nutrition) has also been added.
Fonterra Wants to Double its Business in the U.S.
Mon, 09 Jun 2008 18:07:00 GMT
Fonterra USA’s president Martin Bates says the division is involved in partnerships and activities generating turnover of US$2.5 billion ($3.2 billion) a year and probably contributes revenue of US$1.3 billion to the group result. “I can easily see that we can double that business in three to five years,” Bates says. “And the biggest opportunity is not the import side of things, it’s working in the US and leveraging our technologies and those things in there.” Fonterra will officially open its new North American headquarters and a development center in Chicago later this month.
Fonterra USA has five core parts - importing commodities such as casein and milk proteins, value add ingredients for product functional and nutritional attributes, exports, a small brands business and a joint venture with co-operative Dairy Farmers of America called DairiConcepts which is mainly domestic focussed with manufacturing of milk proteins and cheese powders. The company has a marketing relationship with Dairy America - an association of nine producer-owned dairy co-operatives - to supply skimmed milk powder to the global traded market.
Congress Sends the Farm Bill to Bush Again to Fix Trade Title Ommission
Fri, 06 Jun 2008 14:07:00 GMT
Congress on Thursday sent a $290 billion farm bill to President Bush for a second time in an effort to fix a printing error that has threatened the delivery of U.S. food aid abroad.
To ensure that the aid continues amid a global hunger crisis, Congress and Bush were planning to again pass, veto and enact the bill to provide farm subsidies, food stamps and other nutrition programs over the next five years.
The Senate passed the bill 77-15, two weeks after the discovery that 34 pages of the legislation extending those aid programs were missing from the parchment copy that Congress sent the White House. Bush vetoed that version and the House and Senate then enacted it with two-thirds majority votes overriding the veto.
All of it became law, except for the section dealing with international food aid. The House voted to pass the entire bill again, and Thursday’s Senate action will send it to Bush for what the White House says will be a second veto.
April Total Cheese Production Increases 1.4% Over April 2007.
Tue, 03 Jun 2008 20:55:00 GMT
Total April cheese output was 815 mil. lbs., 1.4% above April 2007. Italian type cheese production was 345 mil. lbs, 0.1% below April 2007. American type cheese production was 337 mil. lbs, 3.4% above April 2007.
Butter production was 153 mil. lbs., 14.8% above April 2007.
CME Spot Butter Increases to its Highest Level Since July '07
Tue, 03 Jun 2008 20:34:00 GMT
CME spot butter prices jumped 3¢ this morning to $1.5125, the highest price since last July. As a result, butter futures increased in the front 6 months.
CWT Announces Herd Retirement
Tue, 03 Jun 2008 14:34:00 GMT
Cooperatives Working Together announced Tuesday that it will conduct its latest herd retirement round. Bids are being accepted starting today through Monday, June 30th, with cow removals to start in seven weeks.
Detailed information can be found at www.cwt.coop, including a bid application, a calculator to help estimate a farmer’s bid, and answers to frequently-asked questions. All bids must be postmarked by Monday, June 30th, in order to be considered. All dairy producers submitting bids to sell their herds must be members of CWT as of January 2008, either through their membership in a fully participating cooperative, or as an independent member of CWT. Bids will be reviewed in early July, with
California May 4b Price Increases to $18.66
Mon, 02 Jun 2008 21:54:00 GMT
The California 4b price for May increases to$18.66. This is an $1.87 increase over the April value of $16.79. The May 4a price increased to $15.19 from the April value of $14.31.
Milk Feed Price Ratio Continues Its Decline
Mon, 02 Jun 2008 20:47:00 GMT
The May Milk-Feed price ratio was a record-low 1.83, down from 1.89 in April. The ratio has fallen eight straight months since registering 3.18 last September.
