DHM Markets/Marketers: CME, CWT, LGM-Dairy

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CME Group, Chicago, IL

 

 

Daily Cash Trading on Tuesday, April 15, 2014

 

CLOSE

CHANGE

 

($/lb.)

(¢/lb.)

CHEESE  BARRELS

2.1675

n.c.

CHEESE  40# BLOCKS

2.1975

1.25

NONFAT DRY MILK  GRADE A

1.9100

n.c.

BUTTER  GRADE AA

1.9000

-3.00

 

CWT assists with 8.4 million lbs. of cheese, butter, WMP export sales

Cooperatives Working Together (CWT) accepted 28 requests for export assistance to sell 5.340 million lbs. of cheddar, Gouda and Monterey Jack cheeses, 2.260 million lbs. of 82% butter and 837,757 lbs. of whole milk powder (WMP) to customers in Asia, Central America, Europe, the Middle East, North Africa and the South Pacific.

The product will be delivered April through October 2014. Bids were accepted from Dairy Farmers of America, Foremost Farms, Maryland & Virginia Milk Producers Association, Michigan Milk Producers Association, Northwest Dairy Association (Darigold), and Tillamook County Creamery Association.

Year-to-date, CWT has assisted member cooperatives in selling 46.132 million lbs. of cheese, 34.163 million lbs. of butter and 4.204 million lbs. of WMP to 29 countries on six continents. These sales are the equivalent of 1.195 billion lbs. of milk on a milkfat basis.

 

Next CDE ‘PYP’ call is April 23

The Center for Dairy Excellence (CDE) will host a “Protecting Your Profits” conference call on Wednesday, April 23, 12-12:15 p.m. Alan Zepp, CDE risk management program manager, will provide a market update and include Livestock Gross Margin for Dairy (LGM-Dairy) results and opportunities.

This month Zepp will ask and answer, "Can I still protect profitable margins for next winter?" He will address basics of the Farm Bill’s Dairy Margin Protection Program and other price risk management tools.

Anyone may participate in the monthly conference call series. There is no charge, but pre-registration is required. To register, call the center at 717-346-0849 with name, phone number and e-mail address. Once registered, participants will receive the call-in number and information.

Calls are hosted in a webinar format, recorded and made available for later viewing. Past Protecting Your Profits calls can be accessed at www.centerfordairyexcellence under “Dairy Information.”

For more information, e-mail info@centerfordairyexcellence.org or visit www.centerfordairyexcellence.org.

 

Northeast ag producers mostly optimistic

Northeast agricultural producers are starting to see some change in their operating environment, but continue to be optimistic about their farm businesses going into 2014, according to a recent survey conducted by Farm Credit East. Key results of the survey, conducted in February, included:

• Over three-fourths of respondents continue to be optimistic or cautiously optimistic for the future of their farming enterprise.

• Most producers did not experience much change in 2013 gross farm income compared to 2012, with 28% indicating a 1%-10% increase; 23% indicating a 10% -20% increase; and 11% indicating more than 20% increase.

• Expenses stayed about the same in 2013, but many (76%) continue to see significant business cost inflation.

• 2013 real estate markets stayed about the same as 2012, with some producers indicating a 1%-10% increase in sale price.

• The top three major business challenges anticipated in 2014 are availability of labor, financial volatility in income statements and changing/shrinking margins.

• Survey respondents indicated a big change in their outlook on interest rates in 2014. Nearly half of the participants expect interest rates to increase as much as 2% in the coming year, while the remainder expect interest rates to remain about the same for another year.

The survey covered producers in seven states: New York, New Jersey, Maine, Connecticut, Massachusetts, New Hampshire and Rhode Island. To view the full report, visit FarmCreditEast.com.

 

IDFA offers ‘regulation’ conference

The International Dairy Foods Association (IDFA) is offering a new two-day conference where dairy professionals can learn more about dairy regulations – directly from officials who regulate them.

IDFA’s Regulatory RoundUP will be held June 24-25, in Washington, D.C., featuring representatives from USDA, the U.S. Food and Drug Administration, Environmental Protection Agency and more. Conference highlights include:

• Top officials from FDA’s Nutrition and Labeling Office will explain the wide-ranging labeling changes and how the new rules will impact every milk, cheese, yogurt and ice cream product on the market.

     • Attendees will gain an insider’s perspective on how USDA and the dairy industry are working together on Commercial Item Descriptions (CIDs), the program aimed at facilitating transactions between dairy purchasers and suppliers and federally supported food programs.

The RoundUP will coincide with IDFA’s annual legislative fly-in, Washington Conference, which will be held June 25-26 in Washington, D.C.

View the Regulatory RoundUP agenda and register here. For more information, contact Maria Velasco, assistant for meetings and educational services, at mvelasco@idfa.org or 202-220-3524.



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