Monday, March 1, 2010

Dairy Briefs from MPI

BRIEFLY…COURTESY OF HOARD’S ON-LINE:

· JANUARY SAW 3,000 more cows in U.S. (9.085 million) than in December. But cow count was down 2.4 percent (227,000) from year ago. Milk output down 0.6 percent from January 2009. Milk per cow was up 1.7 percent.
PRODUCTION STILL DROPPING in California (-2.4 percent) with 72,000 fewer cows (-3.9). Wisconsin was up 4.7 percent with 4.3 percent more milk per cow. New York was down 1.3 percent with 2.2 percent fewer cows.

· EXPORT VALUE EXPECTED to be up 7 percent this year due to higher global prices. Continuing drought in Oceania is playing a role. Recovering economic growth in Mexico and across Asia will boost export demand.

· U.S. EXPERIENCED a positive dairy trade balance in 2009 despite a drop in exports. Export value was $2.27 billion compared to imports of $2.17 billion. Exports were down nearly 40 percent. Imports down 21 percent.

· CHEESE CASH PRICE had dropped 12 cents over three-week period to below $1.40. Cheese inventories were 11 percent above year-earlier levels.

· MILK FUTURES DRIFTED lower. March through December average was $14.13 at press time. Highs were just under $15 for September and October.

· MILC PAYMENTS totaled $900 million during 2009, according to the Farm Service Agency. Payments for 2010 are expected to drop to $30 million.

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