Heat keeps the dairy markets cooking

images (1) Heat continued to push the dairy markets on Friday, cash cheese barrels gained three-quarter cent on the Chicago Mercantile Exchange while blocks added a penny. Class III futures continued to surge with the August contract gaining 22 cents to $21.32, just a penny below the July contract. The August contract gained $1.12 for the week.

Monthly Cold Storage Report from USDA on Friday shows 1.051 billion pounds of cheese in the nation’s warehouses at the end of June, just slightly more than the 1.048 billion in May and 1 percent more than a year ago. American type cheese stocks slipped a little from May to 619 million pounds at the end of June, 1 percent less than a year ago…that is the first year-to-year decline for American cheese stocks in three years.

Butter stocks at the end of June totaled 190.6 million pounds up 20 million pounds from May but 7 million below year-ago levels.

The monthly Slaughter Report from USDA shows 219,000 dairy cows sent to slaughter in June, 1,000 less than in May but 5,000 more than June of last year. For the first six month of 2011 a total of 1.458 million dairy cows have been slaughtered under federal inspection, 88,000 more than in the first six month of 2010.

USDA reports 4.2 million dairy replacement heifers in the country as of the end of June, up from 4.05 million a year ago and the most since 1989. That works out to 45.7 replacements for every 100 cows in the milking line, 1.4 head more than a year ago.

http://brownfieldagnews.com/category/news/dairy/


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