Weekly Hay Auction Report

Rock Valley Hay Auction for Thursday, Oct 12, 2017

Receipts:  54 loads    Last Week:  67 loads    Last Year:  72 loads

Compared to last week:   Alfalfa, grass and bedding sold steady to firm.

Alfalfa:  Premium:  Large Squares, 2 load 117.50-120.00; Large Rounds, 5 loads 1115.00-122.50.  Good:  Large Squares, 1 load 105.00; Large Rounds, 12 loads 95.00-112.50.

Grass:  Premium:  Large Rounds, 2 loads 122.50-130.00.  Good/Premium: Large Rounds, 5 loads 110.00-117.50.  Good:  Large Rounds, 14 loads 90.00-105.00.

Utility:  Large Rounds, 2 loads 65.00.

Oat Hay:  Large Rounds, 4 load 75.00-87.50.

Straw:  Large Squares, 1 load 100.00; Large Rounds, 3 load 100.00.

Cornstalks:  Large Rounds, 2 loads 67.50-70.00.

Bean Stubble:  Large Squares, 2 loads 40.00-45.00.

Oct WASDE Report Predicts Milk Production Up, Cow Numbers Down for 2018

The milk production forecast for 2017 and 2018 is raised on a slightly more rapid pace of growth in milk per cow. However,
forecast cow numbers for late 2017 and 2018 are slightly lower. Fat basis imports for 2017 and 2018 are raised on strength in butter imports but skim-solids imports are lowered for 2017 and unchanged for 2018. Exports on a fat basis are raised for 2017 on stronger butter and cheese exports, and increased sales of butter and anhydrous milkfat are expected to support higher fat basis exports in 2018. Skim-solids exports for 2017 and 2018 are raised, primarily on stronger expected shipments of whey products.

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Dairy Cow Slaughter Increased Over Summer Months

 

June-Sept. Dairy Cow Slaughter. From Daily Livestock Report- Oct. 12

Based on USDA weekly slaughter statistics available through September 23, total cow slaughter for period June 3 – September 23 was 1.842 million head, 161,600 head (+10%) higher than the same period a year ago. While the number of beef and dairy cows slaughtered during this period was evenly divided, dairy cows contributed almost 1/3 of the entire increase, about 55,700 head. A larger dairy cowherd implies a larger cull rate so some of the increase is normal.

Dairy margins have so far been good, but not great. Class III milk prices were hovering around 17 cents per pound in June and July but the dropped to as low as 15.6 cents by mid-September. Low feed costs and robust export demand, especially if butterfat continues to underpin dairy industry profitability and will likely keep dairy cow slaughter in the single digits in Q4.