DHM Markets/Marketers: CA Class 1 dips

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California April Class 1 prices dip from record high

California's April Class 1 milk prices are down from the record highs set in March.

The California Department of Food & Agriculture announced the Class 1 price for the North at $24.88/cwt., with the South price at $25.15/cwt. Both are down 50¢ from March 2014, but $5.39 and $5.38 more than April 2013, respectively.

Through the first four months of 2014, the North average Class 1 price is $24.05/cwt., up $4.33 from the same period of 2013. The January-April 2014 South average is $24.32/cwt., also up $4.33 from the average a year ago.

The April federal order Class I base price will be announced March 19.

 

March 1 corn stocks estimate uncertain

USDA will release an estimate of March 1, 2014 corn stocks on March 31, with potentially important implications for old crop corn prices, noted Darrel Good, University of Illinois ag economist.

It has been difficult to correctly anticipate quarterly stocks estimates in recent years, with large surprises reflected in some estimates. The estimate of Dec. 1, 2013 stocks, for example, was surprisingly small and implied a record 2.426 billion bushels of feed and residual use of corn during the first quarter of the 2013-14 marketing year. That estimate started a price rally that was subsequently augmented by surprisingly large export sales of corn. March 2014 corn futures increased about 70¢ from Jan. 9 through March 7. Continue reading

 

California Dairy Extravaganza summary

More than 2,450 head of cattle were sold during a special two-day California Dairy Extravaganza, March 7-8 at the Turlock Livestock Auction Yard, Turlock, Calif. The market was very active, with top fresh heifers fetching up to $2650/head, and springers getting up to $2,700 head. The summary of dairy replacement and cull cow sales follow:

 

Day 1 – March 7

Springers

#1 Hol Springers: $1800-$2700

#2 Hol Springers: $1400-$1775

# 1 Jer Springers: $1500-$2100

# 1 Jer x Springers: $1200-$1800

 

Weigh Dairy Cows

Top Yielding: $82-$97/cwt.

Med Yielding: $67-$81/cwt.

Low Yielding: $45-$66/cwt.

 

Day 2March 8 

Top Far-Off springer'

$1800-$2125

 

5 Video Load Lots

7-1/2 mos. bred: averaged $2160

 

Holstein Bred Heifers

#1 - 5-6 mos.

$1650-$1850

 

#1 - 3-4 mos.

$1300-$1600

 

#1 - 1-2 mos.

$1150-$1325

 

Holstein Open Heifers

455 lbs. @ $775

548 lbs. @ $950

630 lbs. @ $1125

726 lbs. @ $1260

794 lbs. @ $1285

823 lbs. @ $1335

 

Jersey Open Heifers

303 lbs. @ $600

339 lbs. @ $735

412 lbs. @ $900

473 lbs. @ $1010

554 lbs. @ $1125

 

Jersey Bred Heifers

#1 - 7 + mos.

845 lbs. @ $1900

 

#1 - 5 to 6 mos.

797 lbs. @ $1835

 

#1 - 4 to 5 mos.

711 lbs. @ $1650

 

#1 - 2 to 3 mos.

611 lbs. @ $1400

 

Jersey X Open Heifers

484 lbs. @ $760

508 lbs. @ $925

554 lbs. @ $1050



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