DHM Numbers: Replacement auctions recapped

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Weekly NDPSR

Weekly National Dairy Product Sales Report

Week ending June 7, 2014

 

 

 

 

Change from

 

Ave. price

previous week

 

($/lb.)

(¢/lb.)

Butter

2.19

5.6

Cheddar blocks

2.02

-2.8

Cheddar barrels

2.02

-3.6

Dry whey

0.677

0.3

NFDM

1.84

-4.7

 

MPP-Dairy webinar available

A recorded Farm Credit East webinar covering the new Dairy Margin Protection Program (MPP) is available for viewing.

The webinar features Dr. Andy Novakovic, of Cornell University, and Dr. John Newton, of University of Illinois at Urbana-Champaign. They discuss MPP and discuss the program’s interface with LGM-Dairy and other risk management strategies. Visit https://www.youtube.com/watch?v=F5MvQ6HdpHw

 

Sulphur Springs Dairy Auction

Dairy replacement sales results from Sulphur Spring, Texas, on June 5:

Fresh cows: 1750-2900

Holstein springers: 1600-2035

Breeding age heifers: 870-1200

Small heifers: 450-850

Heifer calves: 120-330

 

New Holland Sales Stables

Dairy replacement sales results from New Holland, Pa. on June 11:

 Compared to last week, A good offering of dairy cows sold $100-$200 higher on good demand. Bred heifers sold firm compared to a very light test last week. Demand was good. Trade was active. Large offering of Jersey and crossbred heifers for the monthly special heifer sale. Wednesday's supply included 109 fresh milking cows, 56 springing cows, 59 short bred cows, 144 springing heifers, 279 short bred

heifers, 218 open heifers and 23 bulls. Prices are for Holsteins on a per-head basis unless otherwise noted.

 

Fresh Cows

Supreme: 2400-3600

Approved: 1800-2350

Medium: 1450-1700

Common: 1050-1350

 

Short bred cows (1-3 months)

Supreme: 1600-1800

Medium: 1500-1550

 

Bred Cows: (4-6 months):

Supreme: 1900-2200

Approved: 1525-1800

medium: 1150-1400

 

Springing cows (bred 7-9 months)

Supreme: 1900-2050

Approved: 1650-1850;  Jersey/Crossbred 800-1850

Medium: 1350-1550

Common: 1000-1150

 

Springing heifers (7-9 months)

Supreme: 2000-2450;  Jersey/Crossbred 1150-2025

Approved: 1700-1950

Medium: 1400-1650

Common: 1000-1350

 

Bred heifers (4-6 months)      

Supreme: 2000-2225;  Jersey/Crossbred 1075-2075

Approved: 1700-1950     

Medium: 1450-1675

Common: 1175-1350

 

Short bred heifers (1-3 months)

Supreme: 1675-1800; Jersey/Crossbred 850-2025

Approved: 1450-1650

Medium: 1325-1400

Common: 775-1150

 

Open Heifers

Supreme

300-600 lbs 875-985

600-900 lbs 1150-1375

900-1200 lbs 1275-1375

1200-1500 lbs 1285-1350

 

Approved

300-600 lbs 625-775;  Jersey/Crossbred 400-950

600-900 lbs 935-1050;  Jersey/Crossbred 750-1200

900-1200 lbs 1000-1175;  Jersey/Crossbred 925-1100

1200-1500 lbs 1125-1175

 

Medium

300-600 lbs 500-625

600-900 lbs 725-875

900-1200 lbs 750-925

 

Mammoth Cave Dairy Auction

Dairy replacement sales results from Smiths Grove, Ky., on June 10:

(Holsteins, supreme and approved, unless otherwise noted)

 

Springers: 2-3 years old, 5-8 months bred

Supreme: 1700-2150

Approved: 1500-1625

Medium: 1250-1400

Common: 900-1100

 

Fresh Milking Cows: 2-4 years old

Supreme: 1775-2225

Approved: 1525-1675

Medium: 1300

Common: 1100-1225

 

Short Bred: 2-3 years old, 1-4 months bred

Supreme: 1550-1800

Approved: 1475

Medium: 1325-1375

Common: 1050

 

Open Heifers: (Supreme & Approved)

400-500 lbs. 700-800

500-600 lbs. 610-1000

600-700 lbs. 700-1175

 

Holstein Heifers Calves: Small 160-200; Medium-Large 230-350.

 

Weekly ethanol production, corn use

Ethanol production data for the week ending June 6:

Ethanol production: 39.65 million gallons/day

Corn used: 14.31 million bushels/day

DIstillers grains production: 93,923 metric tons/day

Source: Renewable Fuels Association

 

Why are ethanol prices and production profits so high?

The ethanol production industry is in the midst of a long “winning streak” in terms of profits, according to University of Illinois ag economists Scott Irwin and Darrel Good.

In the June 11 farmdoc Daily, the economists explained the current run of historically high profits began in March 2013 and was punctuated by a spectacular spike during February-April 2014. The high profits have been driven by a combination of steady or rising ethanol prices and falling corn prices.

While ethanol prices are currently much lower than the peak in April, they persist at high levels relative to corn prices, which have continued to decline. As a result, ethanol production profitability remains about a dollar per bushel above the long-term average experienced since January 2007.

With generally good growing conditions and prospects for a large U.S. corn crop, the expectation is that corn prices will remain well below the levels experienced in 2012 and 2013. Lower corn prices in turn, have been expected to result in declining ethanol prices and a return to more normal profit levels for the domestic ethanol producers. However, it appears that the recent surge in net ethanol exports has prevented those expected declines. If that is the case, prospects for ethanol trade will continue to be a crucial factor in determining ethanol prices and production profits. This in turn can have important implications for usage of corn in ethanol production. Read more

 



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