Cooperatives Working Together (CWT) has accepted three requests for export assistance to sell 912,714 lbs. of cheddar and Monterey Jack cheese to customers in Asia. The product will be delivered October 2014 through January 2015.
Year-to-date, CWT has assisted member cooperatives in selling 83.456 million lbs. of cheese, 48.051 million lbs. of butter and 19.877 million lbs. of whole milk powder to 43 countries on six continents. These sales are the equivalent of 2.062 billion lbs. of milk on a milkfat basis.
Dairy consumer, producer price forecasts
USDA’s Economic Research Service forecasts consumer dairy product prices will rise 3.0%-4.0% in 2014, slightly above the anticipated increase for all foods either consumed at or away from home. The 2014 projections were unchanged from a month ago.
The Consumer Price Index (CPI) for food measures the average change over time in the prices paid by urban consumers for a representative market basket of consumer goods and services.
July 2014 retail dairy product prices increased 0.3% from June 2014, and were up 4.3% compared to July 2013. The report projected 2015 retail dairy product prices would rise 2.5%-3.5% next year, compared to an all-food price increase of 2.0%-3.0%
Dairy product prices rose just 0.1% in 2013, after increasing 2.1% in 2012.
ERS also analyzes and models forecasts for the Producer Price Index (PPI), the average change in prices paid to domestic producers for their output. July 2014 farm-level milk prices increased 0.4% from June 2014, and were 23.2% higher than July 2013. July 2014 wholesale dairy prices declined 0.1% from June 2014, but remained 11.3% above July 2013.
According to full-year PPI projections, 2014 farm-level milk prices are expected to rise 7.0%-8.0%, after increasing 8.1% in 2013. Wholesale dairy prices are projected to increase 4.0% to 5.0% in 2014, after increasing 3.6% in 2013. Initial 2015 PPI projections indicate farm-level prices will hold fairly steady (0.0% to +1.0%), while wholesale PPI prices will increase 1.0%-2.0%.
Sulphur Springs Dairy Auction
Dairy replacement sales results from Sulphur Spring, Texas, on Aug. 21:
Fresh cows: 1900-2550
Holstein springers: 1900-2500
Breeding age heifers: 800-1400
Small heifers: 550-800
Heifer calves: 125-35