This week in Dairy Profit Weekly
This week in Dairy Profit Weekly:
1) October milk output lower: October 2009 milk production in the 23 major dairy states and total United States was down 1.1% compared to October 2008. Cow numbers were down 196,000 head in the major states; 136,000 head nationally.
2) DELAP details: Details are trickling out regarding the Dairy Economic Loss Assistance Payment (DELAP) program, which will distribute $290 million in emergency dairy aid.
3) DPW Trends: December’s federal order Class I base price is $13.99/cwt., up $1.13 from November. That puts the 2009 average at $11.48/cwt., down more than $6.50/cwt. from 2008. USDA’s monthly slaughter report showed cull cow slaughter was down slightly from both September 2009 and October 2008. However, January-October 2009 culling is up 221,000 head from the same period a year earlier. UW-Madison professor emeritus Bob Cropp forecasts an all-milk price of about $16.25/cwt. by the second quarter of 2010.
4) DPW Numbers: September figures wrapped up the fiscal year 2009 dairy trade picture. Exports were valued at $2.34 billion, far below the FY 2008 total of $4.01 billion. Imports were down somewhat, too.
5) DPW Industry: September 2009 fluid milk sales, adjusted for calendar composition, were up compared to a year earlier.
Next week: Due to the Thanksgiving holiday, next week’s Dairy Profit Weekly will be produced and distributed on Wednesday, Nov. 25.
Check in for daily Dairy Profit Weekly news updates at www.dairybusiness.com.
Dave Natzke, Editor
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