Well I thought since every one is tuned into the wasde report I thought I would put up the WASDE for dairy. It doesn't look that promising. FOr you grain farmers out there I don't buyu the Soy number to many beans are dieing. Be safe JR.
Forecast milk production for 2010 and 2011 is raised from last
month. Producers continue to add cows to the herd and the rate
of growth in milk per cow has increased. Exports for 2010 and
2011 are raised sharply as June exports were strong, global
supplies remain relatively tight, and demand in a number of
markets is expected to support higher than previously forecast
sales. However, sales in 2011 will be dampened by increased
competition.
Strong demand for butter and cheese resulted in higher forecast
prices for 2010 but the prices for nonfat dry milk (NDM) and
whey are lowered from last month. The Class III price forecast
for 2010 is raised as the higher cheese price more than offsets
the lower whey price, but the Class IV price forecast is reduced
as the lower NDM price more than offsets the higher butter
price. For 2011, cheese, NDM, and whey price forecasts are
reduced but butter is raised. For 2011, the Class III and Class
IV price forecasts are lowered. The all milk price is forecast to
average $15.90 to $16.10 per cwt for 2010 and $15.55 to $16.55
per cwt for 2011.
