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Digest Highlights: NAFTA’s dairy issues grow more contentious. USDA providing dairy feed aid to Puerto Rico. Wisconsin dairy group and natural resources agency reach settlement. Find a summary of these stories and updates on previous Progressive Dairyman news stories here.
The National Milk Producers Federation (NMPF) officers have endorsed a proposal to change how federal milk marketing order (FMMO) Class I base prices are calculated. The proposal will be reviewed and voted on by the full NMPF board on Oct. 30, meeting in Anaheim, California, in conjunction with the joint annual meeting of NMPF, the National Dairy Board and the United Dairy Industry Association (UDIA).
Lower dairy product prices resulted in lower revenue for most dairy cooperatives in 2016, according to an annual report from the National Cooperative Bank. With the revenue decline, fewer dairy co-ops were listed among the nation's 100 largest cooperatives.
September 2017 U.S. milk production grew 1.1 percent compared to the same month a year earlier, the smallest year-over-year increase since May 2016. Declining cow numbers and a meager increase in milk output per cow slowed the overall growth rate, according to the USDA’s latest Milk Production report.
The USDA’s Sept. 1 grain stocks estimates provided smaller-than-expected inventories for both corn and soybeans, initially giving some price support for both crops.
USDA’s September 2017 milk production estimates will be released after PD-Extra’s deadline. However, the USDA raised milk production forecasts for both 2017 and 2018 in last week’s World Ag Supply and Demand Estimates (WASDE) report. Growth in milk per cow was expected to pick up the pace, more than offsetting a slower rate of herd expansion.
A proposal under discussion to change the method of calculating federal milk marketing order (FMMO) minimum prices for Class I (fluid) milk could have a significant impact on producer milk prices, according to John Geuss, dairy consultant from Naples, Florida.
Digest Highlights: Hurricane Irma damage to Florida dairy industry estimated near $12 million. Profitability is mixed in the Northwest. Find a summary of these stories and updates on previous Progressive Dairyman news stories here.
