CWT assists with 5.8 million lbs. of cheese, butter, WMP export sales
Cooperatives Working Together (CWT) accepted 26 requests for export assistance from Bongards Creameries, Dairy Farmers of America, Land O’Lakes, Maryland & Virginia Milk Producers Cooperative Association, Michigan Milk Producers Association, Northwest Dairy Association and Tillamook County Creamery Association to sell 4.006 million lbs. of cheddar, Gouda and Monterey Jack cheese, 1.645 million lbs. of 82% butter and 180,779 lbs. of whole milk powder to customers in Asia, Europe, the Middle East and North Africa. The product will be delivered in February through June 2014.
Year-to-date, CWT has assisted member cooperatives in selling 16.389 million lbs. of cheese, 5.396 million lbs. of butter and 698,865 lbs. of whole milk powder to 18 countries on four continents. These sales are the equivalent of 272.9 million lbs. of milk on a milkfat basis.
California NFDM prices
The weekly nonfat dry milk powder report has been posted to the California Department of Food & Agriculture Dairy Marketing Branch website.
For the week ending Feb. 7, the average price was $2.0452/lb. on total sales of 11.73 million lbs.
For the week ending Jan. 31, the average price was $2.0243/lb. on total sales of 10.97 million lbs.
2014 crop insurance decisions: The 2014 Farm Bill and 2014 product recommendations
Passage of the 2014 Farm Bill leads to questions on whether the Farm Bill impacts 2014 crop insurance decisions. Because the 2014 Farm Bill does not change crop insurance programs in 2014, the 2014 Farm Bill will not impact 2014 decisions, according to Gary Schnitkey, Univerisy of Illinois ag economist. The 2014 Farm Bill may impact crop insurance decisions in 2015.
The two most significant differences between the 2013 and 2014 crop insurance decision environments are 1) dramatically lower projected prices and 2) introduction of the Area Risk Protection Insurance policy. Even given these differences, the basic recommendation for policies do not change in 2014.
Most farmers will find adequate protection with a Revenue Protection (RP) policy at a 75% or higher coverage level using enterprise units and the Trend Adjusted Yield Endorsement. Some farmers will find the Area Revenue Protection (ARP) and Revenue Protection with the harvest price exclusion (RP-HPE) useful.
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