The Center for Dairy Excellence offers several information resources to help producers identify opportunities to protect their profits. These documents are reviewed on a monthly “Protecting Your Profits” conference call. Click here to access the latest “Protecting Your Profits” Webinar.
Pennsylvania Dairy Industry Performance Scorecard:The Center for Dairy Excellence publishes a monthly “PA Dairy Industry Performance Scorecard,” which looks at key factors supporting the growth of Pennsylvania’s dairy industry and evaluates trends affecting Pennsylvania’s dairy farms.
- Pennsylvania produced 3% more milk with 4000 fewer cows this July compared to July 2013 while national production increased 3.9%.
- July’s Pennsylvania production per cow is 2.3 lb more than July 2013 and 3.1 lb/ head more than 2012.
- July’s All Milk Price is 21% above last year with feed costs dropping 17% yielding margins that are 52% over last year.
Protecting Your Profits Scorecard:To provide an overview of the national dairy industry, with consumption, marketing and production trends, the center publishes the monthly “Protecting Your Profits” scorecard.
- Histoically high CME butter prices are maintaining the August All Milk Price just below May’s record price.
- These domestic butter price spikes are occurring while international prices for butter, powder and cheese are falling!
- July”s cow numbers are just above April 2012 when the last cycle peaked.
- The July 2014 margin for the Margin Protection Program would be $12.68. The historical three year average price is right at the $8.00 maximun coverage provided in this program.
- July cull cow prices set record highs for the 6th month in a row as the number of dairy cows going to slaughter was the lowest since June 2007.
- International prices for butter fell for the 7th consecutive month while domestic butter prices rose for the past 7 months.
Alan Zepp, the center’s risk management program manager, reviews both of these scorecards monthly during his “Protecting Your Profits” calls. The calls are held the last Wednesday of every month. Click here to access a recording of the latest call.