Replacement dairy cow prices haven't recovered yet

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U.S. milk prices have recovered and surged to record highs, but average U.S. dairy replacement cows prices haven't returned to pre-2009 levels, based on USDA’s February Ag Prices report.

U.S. replacement cow prices average $1,380/head in 2013, down $50 from 2012. (Data used by USDA was limited in 2013, with only two quarterly price summary available due to budget sequestration). Among major dairy states, only Arizona, Colorado, Florida, Indiana, Michigan, New Mexico and Texas posted small gains from 2012.

The 2013 U.S. average remains well below the annual average of $1,950/head in 2008. Average prices received for replacement cows peaked at $2,020 in October 2007, but then plummeted to $1,240/head by October 2009, the result of extremely low milk prices that year. Average U.S. prices have now remained in a range of $1,300-$1,500 for 17 consecutive quarters.

Meanwhile, the value of culls cows for beef continues to escalate. Based on February’s preliminary price report, a 1,400-lb. cull cow would be worth $1,310/head, not much below the value of a replacement cow.

 

U.S. annual average replacement cow prices received, 2008, 2012-2013 ($/head)

State

2013

2012

2008

AL

1,410

1,430

1,800

AK

1,200

1,250

1,300

AZ

1,500

1,480

2,100

AR

1,220

1,250

1,840

CA

1,200

1,330

1,730

CO

1,510

1,470

2,150

CT

1,430

1,460

2,000

DE

1,460

1,430

1,960

FL

1,500

1,460

2,260

GA

1,500

1,500

2,050

HI

1,500

1,530

1,500

ID

1,330

1,430

2,100

IL

1,440

1,480

1,990

IN

1,450

1,410

2,000

IA

1,390

1,440

1,970

KS

1,350

1,390

1,930

KY

1,440

1,450

1,890

LA

1,450

1,470

1,750

ME

1,370

1,420

1,850

MD

1,490

1,490

2,020

MA

1,360

1,450

1,950

MI

1,600

1,580

2,200

MN

1,380

1,420

1,950

MS

1,320

1,380

1,780

MO

1,200

1,200

1,740

MT

1,400

1,390

1,870

NE

1,430

1,390

1,960

NV

1,280

1,290

1,900

NH

1,460

1,550

2,000

NJ

1,500

1,540

1,950

NM

1,410

1,370

2,020

NY

1,410

1,450

1,880

NC

1,490

1,550

2,040

ND

1,350

1,300

1,630

OH

1,400

1,460

1,970

OK

1,300

1,300

1,850

OR

1,300

1,410

2,100

PA

1,440

1,480

2,030

RI

1,460

1,430

1,800

SC

1,450

1,510

2,180

SD

1,400

1,390

1,870

TN

1,420

1,430

1,800

TX

1,400

1,390

2,080

UT

1,290

1,300

1,660

VT

1,500

1,560

2,100

VA

1,510

1,510

1,990

WA

1,300

1,340

2,100

WV

1,420

1,510

1,850

WI

1,490

1,530

1,990

WY

1,440

1,470

1,700

US

1,380

1,430

1,950



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