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Friday...Temperatures will range from a high of 68 to a low of 62 degrees with clear skies. Winds will range between 6 and 10 miles per hour from the west. No precipitation is expected.
Overnight ...Temperatures will range from 68 to 62 degrees with clear skies. Winds will range between 6 and 10 miles per hour from the west. No precipitation is expected.
Friday...Temperatures will range from a high of 79 to a low of 57 degrees with mostly clear skies. Winds will range between 6 and 19 miles per hour from the westnorthwest. No precipitation is expected.

August milk prices show increase

Oct. 4, 2013 | 0 comments


The gross all-milk price that Wisconsin dairy farmers are expected to receive for the milk they shipped in September will average $20.10 per hundred, according to the National Agricultural Statistics Service.

This is an increase of 30 cents from August and is also 30 cents more than the weighted national average price for September.

Average projected per hundred prices include $21.30 in Pennsylvania, $20.80 in New York, $20.50 in Michigan, $19.90 in Minnesota, $19.60 in Texas, $18.60 in Idaho, and $18.30 in both California and New Mexico.

The combination of the $19.80 per hundred national all-milk price average and falling prices on the basic feedstuffs for a 16-percent protein dairy ration has raised the milk price/feed cost ratio to 1.86 - the highest ratio since early in 2011.

Prices in September fell by nearly $1 per bushel to $5.28 for shelled corn, by 30 cents per bushel to $13.80 for soybeans, and by $4 per ton to $196 for dry alfalfa hay.

Reporting disruptions

Numbers such as those in the previous paragraphs are not likely to be compiled or published during the duration of the partial shutdown of the United States government.

According to an announcement by the National Agricultural Statistics Service, the affected reports will include milk production, prices, cold storage inventories, dairy commodity production totals, and milk class prices in federal milk marketing orders (FMMO).

A special rule in the federal code will allow FMMO administrators to determine an "equivalent price" that will govern the payments for milk by buyers.

A Class III milk cash price for September was to be announced on Wednesday afternoon of this week. The FMMO 30 office in Chicago indicated that the forward pricing program for milk that it administered had expired as of October 1.

With the start of the new federal fiscal year on Oct. 1, a resumption of the monthly compilation and reporting of data on state by state dairy cow numbers and average milk per cow had been anticipated.

The gathering of that information was halted earlier this year because of the then federal budget sequestration.

Active spot market

What has not been affected by the federal budget stand-off in Congress is the privately-operated spot market for dairy commodities on the Chicago Mercantile Exchange and the accompanying Class III milk futures contract market.

The spot market was extremely busy early this week with the sale of 13 carloads of AA butter on both Monday and Tuesday along with eight carloads of Cheddar block cheese on Monday.

That surge was followed by the sale of five more carloads of butter and three each of Cheddar blocks and barrels on Wednesday.

Price patterns

Spot market prices were steady for a full week at $1.61 per pound for AA butter, at $1.7650 per pound for Cheddar blocks (down .50-cent from a week earlier), and at $1.7075 for Cheddar barrels (down 1.25 cents for the week).

Grade A non-fat dry milk gained .50-cent per pound as the result of an unfilled bid to buy on Wednesday to close at $1.8350. Grade Extra held at $1.78 per pound in a quiet market.

The dry whey futures market continued to show strength despite red ink territory on Wednesday for contracts in the first half of 2014.

Prices stood at a gradual downward slope from 58.25 cents per pound for October to 48.5 cents in December of 2014.

Class III futures

Class III milk futures were trading in red ink territory on Wednesday for all months from October through June of 2014. But they were moving upward for all months in the latter half of 2014.

On the last possible day of trading, the Class III futures were at the board's high of $18.12 per hundred for September.

Other prices were $18.11 for October, $17.86 for November, and $17.18 for December before falling into the upper half of the $16s for the first half of 2014 and then rebounding to $17.10 per hundred for August and September of 2014 and $17 for both October and November.

Lots of cheese

For deliveries to be completed by December, five dairy manufacturers have had a group of 14 bids accepted by Cooperatives Working Together for financial assistance on export sale of 1.036 million pounds of Cheddar, Gouda, and Monterey Jack cheese and 716,502 pounds of butter.

Provided by Bongard Creameries, Land O'Lakes, Dairy Farmers of America, the Michigan Milk Producers Association, and Darigold Cooperative, those products are set to go to buyers in Asia, North Africa, and the Middle East.

A recent report by the Economic Research Service agency of the U.S. Department of Agriculture stated that per capita consumption of cheese hit a record high of 33.51 pounds in 2012. This total nipped the previous record of 33.50 pounds set in 2007 and the 33.27 pounds in 2011.

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