CME Group, Chicago, IL



Daily Cash Trading on Tuesday, April 8, 2014




















CWT assists with 6.9 million lbs. of cheese, butter export sales

Cooperatives Working Together (CWT) accepted 17 requests for export assistance from Dairy Farmers of America, Maryland & Virginia Milk Producers Association, Michigan Milk Producers Association, Northwest Dairy Association (Darigold), and Tillamook County Creamery Association to sell 4.556 million lbs. of cheddar, Gouda and Monterey Jack cheeses and 2.480 million lbs. of 82% butter to customers in Asia, Central America, and the Middle East. The product will be delivered April through August 2014.

Year-to-date, CWT has assisted member cooperatives in selling 40.792 million lbs. of cheese, 31.903 million lbs. of butter and 3.366 million lbs. of whole milk powder to 27 countries on five continents. These sales are the equivalent of 1.098 billion lbs. of milk on a milkfat basis.


Sulphur Springs Dairy Action

Dairy replacement sales results from Sulphur Spring, Texas, on April 3:

Fresh cows: $1600-$2450

Holstein Springers: $1575-$2010

Breeding age heifers: $900-$1175

Small heifers: $510-$850

Heifer calves: $180-$400


U.S. Grains Council releases 2013/2014 Corn Export Cargo Quality Report

U.S. corn exports averaged slightly lower test weights, higher moisture content and a higher incidence of stress cracks and broken kernels, likely due to additional drying, according to the U.S. Grains Council’s 2013/2014 Corn Export Cargo Quality Report.

The report measures the quality of U.S. corn sampled at the point of loading for export. Three export channels are reported: the Gulf of Mexico, the Pacific Northwest and inland terminals shipping by rail to Mexico.

While there is year-over-year variability by each export channel, overall quality continues to be very good, with the average aggregate quality of export corn exceeding standards for U.S. No. 2 on all grading scales. In addition, the incidence of aflatoxin and DON is very low, with all samples tested below the FDA action levels/advisory levels.

• Average protein content (8.6%) was lower than 2012/13 (9.2%), but appears to have returned closer to normal and was very close to 2011/12 (8.7%).

• Starch content (73.7%) followed the opposite of the protein trend, and was higher than 2012/13 (73.5%), but lower than 2011/12 (74.1%).

• Oil content (3.7%) was the same as 2012/13, but was slightly above 2011/12 (3.6%).

A full copy of the report is available here.


Global beef demand to remain strong

Rabobank is forecasting continued strong beef market fundamentals and continued strong global demand, led by the Chinese market. 

In is recent report, Rabobank’s Food & Agribusiness Research team said beef market fundamentals remain positive, with prices driven up by firm demand and further tightening of supply. Drought-induced herd retention in the U.S. and adverse weather conditions in Brazil and Australia – combined with fluctuating exchange rates – have impacted competitive positions in export markets, with Brazil and Australia gaining export share in Q1 2014 at the expense of the U.S.

On the demand side, beef demand growth will continue to come mainly from China, although 2014 imports are not expected to reach the growth levels experienced in 2013.

Prospects for the global beef industry remains positive in Q2 2013, with further possible upside due to continuing pressured beef supply and scarce supply of competing proteins.

Regionally, volatility was the biggest factor impacting the U.S. cattle complex in Q1 2014. The impact on the hog market due to the rapid spread of PEDv will be the wildcard in the coming months. The shortage in hog slaughter could have a significant impact on total meat supplies, strengthening beef demand during the spring grilling season and into summer.


Prairie Farms expands Greek yogurt line

Prairie Farms Dairy announced the availability of its new line of 100 Calorie Greek Yogurt in five  flavors – blueberry, cherry, key lime, peach and strawberry. Each 5.3-ounce cup contains authentic strained nonfat yogurt packed with 12 grams of protein. The yogurt is naturally sweetened with Stevia and free from artificial sweeteners, flavors and colors.

In addition to the 100 Calorie line, the regular Greek yogurt line is being expanded with the addition of two new flavors: blood orange and strawberry banana in 5.3-ounce cups and 32-ounce value size joins the line up in plain and vanilla.

Beginning April 15, Prairie Farms 100 Calorie Greek Yogurt will be available in retail outlets throughout the Midwest.