The all-items Consumer Price Index (CPI) from the USDA Economic Research Service, a measure of economy-wide inflation, was down 0.1 percent from October to November 2019 and is 2.1 percent above the November 2018 level. The CPI for all food was down 0.1 percent between October and November 2019, and food prices were 2.0 percent higher than the November 2018 level. The degree of food price inflation varies depending on whether the food was purchased for consumption away from home or at home.
- The food-away-from-home (restaurant purchases) CPI increased 0.2 percent in November and is 3.2 percent higher than November 2018; and
- The food-at-home (grocery store or supermarket food items) CPI decreased 0.3 percent from October to November and is 1.0 percent higher than last November.
Continue reading “CPI Is Strong For Dairy”
Dairy outlook with Bob Cropp and Mark Stephenson is here
The Iowa State University (ISU) Extension and Outreach Dairy Team will host its annual Dairy Directions Series Dec. 10 in Sac City and Dec. 11 in Pocahontas.
The series will focus on replacement heifers, risk management, cooling dairy cows and updates on the dairy market outlook and ISU dairy herd.
Continue reading “Dairy Directions Series Dec. 10-11 in Sac City and Pocahontas”
Milk production forecasts for 2019 are raised on higher cow numbers and stronger growth in
milk per cow. For 2020, expected continued gains in milk per cow supported an increase in
the milk production forecast in this weeks WASDE report.
Continue reading “USDA Forecast 2020 Milks Holds At $18.85/cwt”
Registration Now Open for Upcoming Seminar
Agricultural lenders will receive current useful, research-based information during the Siouxland Agricultural Lender’s Seminar on Thursday, Nov. 7 with registration at 8:45 a.m. and programing from 9:00 a.m. to 3:45 p.m. at the Triple Box near Orange City. The seminar will present current information to assist lenders and farm financial advisors in their portfolio management, which is especially important in this era of continued market variability.
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Due to recent declines in milk cow numbers, relatively high slaughter levels, and higher expected feed prices, milk production forecasts have been lowered for 2019 and 2020 in the USDA June World Agricultural Outlook. Dairy exports were relatively weak in April, and export forecasts have been lowered for both 2019 and 2020. The all-milk price forecast for 2019 is $18.00 per cwt, 5 cents lower than last month’s forecast. The all-milk price forecast for 2020 is $18.90 per cwt, 10 cents higher than last month’s forecast.
Continue reading “USDA Predicts 2020 All-Milk Price At $18.90”
If only it were that easy. For many years the dairy industry has struggled with an imbalanced market- more production than domestic consumption- and generally that was a world-wide dilemma. Because milk in fluid form is highly perishable, different then corn or soy that can be stored for years, it has to be manufactured into a more stable product. Cheese, butter and powders gave a much longer shelf-life, and were put into storage by the ton.
Continue reading “Drink One More Glass of Milk and Save a Dairy”
The monthly dairy outlook with Mark Stephenson and Bob Cropp is available here.
The May 10 World Agricultural Supply and Demand Estimate report has milk production for 2020 forecast higher than 2019. Dairy herds are expected to begin to expand as producers respond to higher milk prices and lower feed costs. Milk per cow is expected to continue increasing, and the forecast also reflects the one extra day due to leap year.
Continue reading “WASDE Predicts Milk Production and prices Up for 2020”