DairyProfit Update for Sept. 25, 2012
A bipartisan group of senators from leading dairy states asked USDA to review the floor price for raw milk under federal milk marketing orders. A letter, written by Sens. Bernie Sanders (I-Vt.), Olympia Snowe (R-Me.), Susan Collins (R-Me.), Charles Schumer (D-N.Y.), Kirsten Gillibrand (D-N.Y.) and Al Franken (D-Minn.), asked USDA to review federal minimum prices in light of high feed costs.
“At a time when farmers’ costs are soaring because of the high price of grain, I am glad that we have bipartisan support for hard-pressed dairy farmers in this letter to Secretary Vilsack,” Sanders said. “The letter demands that he investigate whether farmers can continue to stay in business at the milk price floor now set by the federal government,” Sanders added.
To read the letter, click here.
Mention “World Dairy Expo” and there’s no question what you mean. Those three words have created a “brand” – within the dairy industry and beyond – to identify a place and time where all that’s new, innovative and “the best” of dairying is available. World Dairy Expo is the event that launches fresh ideas, and connects and motivates people to find solutions and develop loyalties. Excellence is showcased; ideas are harvested.
This year’s event is Oct. 2-6, at the Alliant Energy Center, in Madison, Wis. So whether it’s on your tablet, smartphone or the back of an envelope, start your list of things to do, and head to World Dairy Expo: It’s a “market fresh” brand.
Admission is $10 daily for anyone age 12 and older; or $30 for the entire five-day event. For more information on World Dairy Expo, log on to www.worlddairyexpo.com, phone: 608-224-6455, or e-mail: email@example.com.
NMPF/NDB/UDIA annual meeting set
The 2012 joint annual meeting of the National Milk Producers Federation (NMPF), National Dairy Promotion and Research Board (NDB) and the United Dairy Industry Association (UDIA) will be held Oct. 29-31 at the Walt Disney World Dolphin Hotel in Lake Buena Vista, Fla.
Centering on the theme "Securing Dairy's Future," attendees will arrive for a few days of speeches, reports, banquets, general sessions, town hall meetings and award ceremonies. Dairy producers, cooperatives, Young Cooperators (YCs), industry representatives, staff, and others from within the dairy sector are all invited to attend. Guest speakers will include AgriTalk host Mike Adams, sports commentator Dick Vitale, political pundit Stu Rothenberg, and entertainer Laura Bell Bundy.
Information will be posted online at www.nmpf.org/nmpf-joint-annual-meeting as it becomes available.
MARKETS: Cheese jumps; Class III futures higher
Today's market closing prices:
Butter: up 1.0¢, to $1.94/lb.
Cheddar blocks: up 5.0¢, to $2.05/lb.
Cheddar barrels: up 4.0¢, to $2.00/lb.
Grade A nonfat dry milk: unchanged, at $1.68/lb.
Extra Grade nonfat dry milk: unchanged, at $1.6350/lb.
Class III milk: +24¢ to +58¢, October 2012 through March 2013. Based on current CME closing prices, the average for September-December 2012 is $20.19/cwt.; the full year 2012 average is $17.55/cwt.; and the 2013 average is $18.89/cwt.
Corn slightly lower; soybeans, meal higher
Corn: -1¢ to steady through September 2013. The 2013 average is $7.07/bu.
Soybeans: +1¢ to +6¢ through September 2013. The 2013 average is $14.95/bu.
Soybean meal: +$3.60 to +$5.30/ton through September 2013. The 2013 average is $431.15/ton.
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