Global Economy
Vilsack: The 2010 deal through which the U.S. pays Brazil $147 million a year to aid its cotton industry won’t be funded once the current farm law starts expiring.
Fonterra CEO says milk powder contamination scare put the cost at “tens of millions” of New Zealand dollars.
China fined six dairy companies a combined $109 million for milk-powder price fixing, a record penalty for violating anti-monopoly laws.
Prices increase after an import ban by China and Russia on New Zealand’s largest dairy exporter stokes speculation buyers will seek limited supplies elsewhere.
The ban could disrupt world dairy markets, creating an opening for U.S. products.
U.S. dairy products have been locked out of the Indian market.
Chinese agencies also are investigating 23 cases of possible monopoly violations by overseas companies.
Chinese agency says it has evidence that foreign companies sold infant formula in China at overly high prices.
Powder for delivery across all contracts through January averages $4,757 a metric ton.
Price cuts come after Chinese government started investigating possible pricing and anti- monopoly violations by overseas companies.
Milk supply growth to reduce, but not puncture, international prices over next 6 months.
University of Wisconsin dairy economists discuss dairy market implications.
The membership requirement will increase from 2¢ per cwt. to 4¢ per cwt. for the dairy export assistance program.
Gains were led by an unprecedented level of milk powder shipments.
Expectations of rising New Zealand milk production in the second half of the year force a 7.1% price decline.
Officials will tighten supervision of baby milk and start a campaign to shut down unqualified suppliers and producers.
University of Wisconsin dairy economists say tight global supply and demand situation should support Class III prices at $19.
Investment aims to boost Danone’s sales in China’s yogurt market, strengthen Chinese consumers’ food-safety confidence.
Whole milk powder auction prices soar as New Zealand’s most widespread drought in at least 30 years curbs supply.
The acquisition will increase focus on quality of supplies amid safety concerns in China’s dairy industry.
Imports from key customers were mostly higher in early 2013, led by record purchases from China.
University of Wisconsin dairy economists predict a recovery period for dairies.
Milk powder prices have risen more than 50% since early March, and butterfat and whey prices have posted double-digit increases.
Rain would help ease the most widespread drought in at least 30 years that curbed milk output.
The new rail link into New Zealand site is expected to carry 200,000 metric tons of milk powder in its first year.
April typically a wetter time of the year on the North Island, scientist says.
New Zealand powder for June delivery gained 12.8%; Fonterra increases prices for farmers.
Milk futures are poised to end their longest slump since 2008 as New Zealand’s reduced milk output forces China and other buyers to import more from the U.S.
Cooperative’s annual meeting draws nearly 1,500 to Kansas City.
Buyers scramble to secure reduced New Zealand supply before the end of the season.