California October Class 4 prices decline
California’s October 2014 Class 4a/4b milk prices were announced on Monday, Nov. 3.
The Class 4a butter-powder price declined $1.21 from September, to $21.51/cwt. It is the lowest Class 4a price since December 2013, but still $1.51 more than October 2013. The January-October 2014 average stands at $22.93/cwt., $4.49 more than the same period a year ago.
The Class 4b price, at 20.94/cwt., is down $1.45 from September’s record high, but $4.12 more than October 2013. The January-October 2014 average is $20.57/cwt., $4.40 more than the same period a year ago.
Comparable October federal order Class III & IV prices are announced on Wednesday, Nov. 5.
Dairy replacement sales results from Jerome, Idaho, on Oct. 29:
Springers (top 70): 2190 with top of 2675.
(300-400 lbs.): 218-245/cwt.
400-500 lbs.): 220-230/cwt.
(500-600 lbs.): 185/cwt.
(700-800 lbs.): 185-188/cwt.
Sales results from a dairy replacement sale held Oct. 31, at Turlock, Calif. 584 head sold. No. 1 Holstein springers higher this week, topping out at $3,100. Weigh cows and bulls 3¢-4¢ softer compared with a week ago. Prices $/head unless otherwise noted:
#1 Hol Springers: 2300-3100
#2 Hol Springers: 1600-2150
# 1 Jer Springers: 1800-2150
# 1 Jer x Springers: 1500-2000
Holstein Bred Heifers
Holstein Open Heifers
Jersey Bred Heifers
Jersey Open Heifers
Weigh Dairy Cows
Top Yielding 108-124/cwt.
Med Yielding 87-109/cwt.
Low Yielding 55-86/cwt.
October Credit Managers' Index improves
The state of creditors improved in October, according to the National Association of Credit Management’s monthly economic report.
The CMI monitors "positive" and “negative” factors in U.S. manufacturing and service sectors. Positive factors include sales, new credit applications and amount of credit extended. Negative factors include rejections of credit applications, accounts placed for collection, and dollar amount beyond terms.
Positive factors in NACM’s October Credit Managers’ Index (CMI) returned to their highest point of the year. Sales showed a significant improvement, indicating many sectors of the economy started to come back to life. Industrial production improved, as did capacity utilization and factory orders. New credit applications’ growth was more modest, but trended in a positive direction. Dollar collections improved significantly, but amount of credit extended went down.
Changes in negative factors trended in the right direction. Rejections of credit applications improved; there was also improvement in accounts placed for collection and in filings for bankruptcies.
For a full breakdown of the manufacturing and service sector data and graphics, view the complete October 2014 report at http://web.nacm.org/CMI/PDF/CMIcurrent.pdf.
NACM and its network of affiliated associations are the leading resource for credit and financial management information, education, products and services.
Midwest economic growth steady in September
The Midwest Economy Index (MEI) was unchanged in September, but remained above average for the sixth straight month.
The index is a weighted average of 129 state and regional indicators encompassing the five states in the Seventh Federal Reserve District (Illinois, Indiana, Iowa, Michigan and Wisconsin). The index measures growth in non-farm business activity based on indicators of four broad sectors of the Midwest economy: 1) manufacturing, 2) construction and mining, 3) services, and 4) consumer spending.
September’s pace of manufacturing activity increased in Illinois, Indiana, Michigan and Wisconsin, but decreased in Iowa. The pace of construction and mining activity was higher in Michigan and Wisconsin, but lower in Illinois and Indiana and unchanged in Iowa. The pace of service sector activity fell in Indiana, Iowa, Michigan and Wisconsin, but rose in Illinois. Consumer spending indicators were, on balance, down in Illinois and Wisconsin, but steady in Indiana, Iowa and Michigan.
MEI historical data and background information are available at www.chicagofed.org/mei.
Gross state product (GSP) growth forecasts are available at www.chicagofed.org/webpages/region/midwest_economy/index_data.cfm.