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 cows produced 3.0% more milk compared to October 2013. The herd remained at 530,000 cows, so total production also grew by 3.0% while national production increased 3.9%.
- The Pennsylvania All Milk Price fell $0.60 to $26.80 from September’s record.
- Feed costs to produce 100 lbs of milk are slightly higher than last year but $1.50 lower than September of 2012!
- 15% of PA DHI herds averaged 80 lbs of milk or more in September.
- 15% of PA DHI herds also had pregnancy rates over 29% last month
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.
- October CME Butter prices fell out of the stratosphere of $3.06 butter to $1.89 equal to last January and $.13 over the 3 year average.
- CME cheese prices fell $.30 in the past month but they are still 15% over the average of the past 3 years.
- International prices for butter strengthened a little since last month while powder and cheese continue to fall.
- U.S. cow numbers have been stable the past 4 months but they have not been this high since April 2009.
- The October 2014 Margin Protection Program Margin is $15.31. The historical three year average price is $8.26, just above the maximum coverage provided in this program.
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.