This week in DairyProfit Weekly: Oct. 15, 2012
This week in DairyProfit Weekly:
1) Dairy outlook brightening, but cloudier: USDA’s World Ag Supply & Demand Estimates report lowered projected milk production for 2012, but raised 2013 expectations. Rabobank reports the era of predictable U.S. dairy marketing cycles is over, due to U.S. presence in global dairy markets, and volatile feed costs.
2) DPW Trends: USDA raised milk and dairy product prices forecasts for both 2012 and 2013, while slightly reducing expected corn and soybean prices. California’s November Class 1 milk prices are the highest since September 2011.
3) DPW Numbers: USDA’s Crop Production report projects the dry alfalfa/alfalfa mixture hay harvest will be the smallest since 1953, with the lowest yield since 1988.
4) DPW Industry: Growing yogurt manufacturing capacity and the need for more milk in the Northeast were the twin themes of the Dairylea Cooperative annual meeting, creating a “once-in-a-generation opportunity” for producers wishing to expand.
5) DPW Washington: The deadline to submit comments on petitions to waive the EPA Renewable Fuel Standard ended, and now it’s up to EPA to issue a decision. USDA released results of its first-ever Certified Organic Production Survey. Organic milk production has grown, but how much would you guess?
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Dave Natzke, Editor
Editorial Director – DairyBusiness Communications
7221 Country Village Dr.
Wisconsin Rapids, WI 54494