Wautoma, WI
Current Conditions
0:27 AM CDT
Cloudy
Temperature
70°F
Dew Point
66°F
Humidity
88%
Wind
SSW at 9 mph
Barometer
29.67 in. F
Visibility
10.00 mi.
Sunrise
06:20 a.m.
Sunset
07:33 p.m.
Afternoon Forecast (12:00pm-7:00pm)
Temperatures will range from 69 to 74 degrees with mostly cloudy skies. Winds will range between 11 and 15 miles per hour from the southwest. Rain amounts between a tenth and quarter of an inch are predicted.
7-Day Forecast
Monday
74°F / 56°F
Partly Cloudy
Tuesday
76°F / 56°F
Sunny
Wednesday
80°F / 56°F
Scattered Showers
Thursday
80°F / 54°F
Light Rain
Friday
66°F / 44°F
Sunny
Saturday
65°F / 44°F
Partly Cloudy
Sunday
68°F / 47°F
Partly Cloudy
Detailed Short Term Forecast
Issued at 0:27 AM CDT
Monday...Temperatures will range from a high of 74 to a low of 56 degrees with partly cloudy skies. Winds will range between 6 and 15 miles per hour from the west. 0.14 inches of rain are expected.
This Evening ...Temperatures will range from 68 to 58 degrees with mostly clear skies. Winds will range between 6 and 10 miles per hour from the west. No precipitation is expected.
Overnight ...Temperatures will remain steady at 57 degrees with partly cloudy skies. Winds will remain steady around 7 miles per hour from the west. No precipitation is expected.
Tuesday...Temperatures will range from a high of 76 to a low of 56 degrees with mostly clear skies. Winds will range between 5 and 13 miles per hour from the westsouthwest. Less than 1 tenth inch of rain is possible.

Dairy commodity prices drop; CME sale volumes increase

June 11, 2014 | 0 comments

CHICAGO , IL

The trading session for dairy commodities on Wednesday of this week in the spot market on the Chicago Mercantile Exchange (CME) was a busy one both in terms of volume and price movement.

As has been the case often in recent weeks, AA butter grabbed the spotlight on the CME with the sale of 25 carloads on Wednesday while a bid for five more carloads was not filled. The price dropped by 2.5 cents per pound to $2.1850 during all of that activity.

Three carloads each of Cheddar cheese blocks and barrels were sold in the spot market on Wednesday. The block price fell by 3 cents to $2.03 per pound while the barrel price lost 1.25 cents to close at $1.9575 per pound. A bid for two carloads of blocks was not filled.

The Grade A non-fat dry milk spot market was quiet. For the fourth consecutive trading day, the price stood at $1.8575 per pound.

Futures markets

Despite the downturn in dairy commodity prices, the Class III milk futures posted gains for all remaining months of 2014 on contracts traded well into the afternoon on Wednesday. The price increases included 37 and 30 cents per hundred for July and August, respectively.

With a gain of 4 cents per hundred, the June Class III milk futures were trading at $21.32 per hundred. That's $1.07 per higher than the standing high record Class III cash price for June, which was set in 2007.

The price gains on Wednesday put the Class III futures at $21.08, $20.79, and $20.63 respectively for July, August, and September. All of those would fall somewhat short of the record high cash prices for those months which were established in 2011 and 2007.

For the remainder of 2014 through November of 2015, the Class III futures were trading in a downward price arc for $20.18 in September 2014 to $18 for November of 2015.

Dry whey futures prices were mixed on Wednesday. This put them at a high of 67.3 cents per pound for June, at 59.5 cents for September, and at 48.5 cents or above for all subsequent months through December of 2015.

Record price run

For the fifth consecutive month, a record high Class III milk cash market was achieved when the May price came in at $22.57 per hundred. This was down by $1.74 from April but $4.05 per hundred above the May 2013 Class III cash price. During the first five months of 2014, the Class III milk cash price has averaged $22.94 per hundred, up by $5.26 from 2013 for those months.

A report by the Wisconsin field office of the National Agricultural Statistics Service indicated that milk produced in Wisconsin during 2013, including that fed to calves and consumed at home on farms, was worth a record high of more than $5.597 billion. That was an increase from the nearly $5.29 billion in 2011.

During both years, the average returns to Wisconsin's dairy farmers for the milk produced on their farms were a record high $20.30 per hundred. The boost in market value resulted from the increase in the state's milk production from 25.779 billion pounds in 2011 to 27.298 billion pounds in 2013.

Export report

On Tuesday of this week, Cooperatives Working Together announced the receipt of a batch of 11 bids from Dairy Farmers of America and the Northwest Dairy Association (Darigold) for financial assistance on the export of 2.138 million pounds of Cheddar, Gouda, and Monterey Jack cheese, 1.250 million pounds of whole milk powder, and 440,925 pounds of 82 percent butter. The deliveries, scheduled for June to November, will go to buyers in countries in Asia, South America, and North Africa.

The overall exporting of dairy products made in the United States continues at a record high pace. Statistics released for April indicated an increase of 26 percent, including 32 percent for cheese, compared to April of 2013. The value of the exported products was $688.5 million, placing second among monthly totals, trailing only the $717 million in exports during March of this year.

During the first four months of 2014, the dairy products exported by the United States were worth $2.574 billion. That's an increase of 35 percent for the same period in 2013.

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