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’s dairy cow numbers have remained constant for almost two years.
- Production per cow in May was a record 67.5 lbs / cow, .2 lbs more than May 2015 and +2.2 lbs more than May 2014 .
- Milk prices are 8% below last year and $10.00 / cwt. or 60% lower than May 2014!
- Pa estimated feed costs are 9.7% less than May 2015, but the margin is also 8% lower due to the lower milk price.
- More than 30% of Pa DHIA dairy herds averaged over 1650 pounds of total components / cow in May.
- 63% of Pennsylvania DHI herds have an average SCC under 200,000.
- Days in milk and pregnancy rates continue to increase while calving age is decreasing.
- Cull rates remain strong, but are slightly less than the past two Mays.
US Dairy Industry Scorecard: To provide an overview the national dairy industry, with consumption, marketing and production trends, the center publishes the monthly “US Dairy Industry Performance” scorecard.
- The final March/April MPP margin is $7.14868
- There were 9.327 million dairy cows in the United States in May. This is the largest dairy herd since the last cycle peak of 9.334 million cows in December 2008.
- U.S. milk production per cow averaged 74.1 lbs. / cow in May, up from 73.3 lbs. / cow a year ago.
- Slaughter numbers are 6% below last April, similar to April 2014.
- April butter and cheese stocks continue to grow. Butter stocks are the highest since 2013 but cheese stocks are at their highest level since 1984!
- Domestic cheddar cheese prices are 8% more than other parts of the world while the CME butter price is 30% higher than the current Global Dairy Trade value and 60% more than butter in Europe!
- Milk powder prices around the world are equally low, trading at 45% below their three year average.
- The value of dairy imports in March is 11% more than the three year average but these relatively strong domestic prices lowered the value of dairy exports by 27% compared to the average of the past three years.
To read the “Forensics of a Crash” presented by Tim Hunt at the annual meeting of US Dairy Export Council, click here.
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.