March Class I base is record high
The federal order March Class I base milk price is a record high $23.64/cwt., up $1.62 from February 2014 and $5.84 more than March 2013.
Through the first three months of 2014, the Class I base average stands at $22.38/cwt., $4.05 more than the $18.33/cwt. average for the same period in 2013.
January dairy cull cow slaughter
USDA estimated 270,200 culled dairy cows were slaughtered under federal inspection in January 2014, up 13,500 from December 2013, but 26,700 less than January 2013.
Weekly dairy cow slaughter under federal inspection
Week ending Feb. 8: 59,900 head
Year-to-date (YTD) 2014: 353,800 head
YTD compared to same period 2013: -33,500 head
Highlights: Midwest culling as a percentage of the U.S. total picked up. For the week, 33% came from USDA Zone 5 (IL, IN, MI, MN, OH & WI); 24% came from USD Zone 9 (AZ, CA, HI & NV).
Source: USDA Weekly Cow Slaughter Report
National Dairy Products Sales Report highlights – Feb. 20, 2014
Average prices for the week ending Feb. 15, and compared to the previous week:
• USDA Grade AA Butter: $1.86/lb., up 2.2¢.
• Cheddar 40-lb. block: $2.32/lb., up 4.4¢.
• Cheddar 500-lb. barrels: $2,32/lb., up 2.3¢.
• Dry whey (Extra Grade): 62.8¢/lb., up 0.8¢.
• Nonfat Dry Milk: $2.08/lb., up 0.8¢.
Dairy CPI: Mixed bag in January
Consumers found a mixed bag of retail dairy product prices climb in January, according to unadjusted monthly Consumer Price Index (CPI) data released by the Bureau of Labor Statistics.
Overall January 2014 retail dairy product prices were +0.5% compared to December 2013, but -0.4% compared to January 2013. That compares to retail prices for all food eaten at home, which was +0.7% compared to December and +0.5% compared to the year before.
Checking out individual products (January 2014 vs. December 2013 and January 2013, respectively): fluid milk: +0.9%; +1.5% [whole milk: +1.5%; +2.1%; other milk: +0.7%; +1.2%]; cheese: -0.1%; -1.2%; butter: +3.4%; +1.5%; ice cream: +1.3%; -1.5%; and “other” dairy products: +0.1%; -1.4%.