DHM Numbers: Weekly dairy cow slaughter under federal inspection bounced back during the first week of December, typical of a post holiday-shortened Thanksgiving week.
Pennsylvania dairy replacement auction prices were steady to slightly higher.
In its December Short-Term Energy Outlook (STEO), EIA expects that average heating oil expenditures by households that use oil as their primary heating fuel during the 2014-15 winter will be 27% ($632) below last winter's expenditures.
The Class III futures plummet continues for most of 2015. While nearby months turned positive amid stability in spot pricing, deferred (August and September 2015) contracts posted the steepest losses in yesterday’s session.
Prices in U.S. wholesale markets have further to fall in coming months, and the onset of price recovery may also kick in later, as the local market cycle continues to lag behind the offshore market, according to the latest Dairy Quarterly report from the Rabobank Food & Agribusiness Research (FAR) and Advisory Group.
After a momentary move upward early in the day, Class III futures quickly weakened, forcefully erasing any positive price action and continuing to march lower. The full year 2015 pack finished 29¢ lower, at $15.74/cwt.