In a press release dated January 23, 2023, the USDA announced that it was issuing a second round of payments through the Pandemic Market Volatility Assistance Program (PMVAP) using the $100 million that went unspent during the first round of payments. Furthermore, it was announced that up to $100 million would be allocated to the…
World milk supply is on the rise with the European Union and the United Kingdom milk production showing sustained year-over-year (YOY) gains in addition to YOY gains seen the last several months in the U.S. In contrast, New Zealand milk production is being hampered by overly wet conditions and fell 0.6% YOY in December but…
The Center for Dairy Excellence is focused on making sure dairy farmers and their advisors have what they need to be successful into the future. The Vision of the Center is to, “Serve as a catalyst for a vibrant Pennsylvania Dairy Industry,” further supported by the mission to, “Empower and support Pennsylvania Dairy families and…
The USDA released its Crop Production Annual Summary on January 12. This summary reports crop production for the U.S. and by state for major commodities like corn, soybeans, and hay. Of course, there are many others listed. Due to space constraints, I will summarize U.S. and PA corn for grain, corn silage, soybeans, and alfalfa…
The Pennsylvania Dairy Summit is hosted annually by the Professional Dairy Managers of Pennsylvania (PDMP) and the Center for Dairy Excellence (CDE). The Summit brings together dairy producers and allied industry representatives working within the dairy industry. The Dairy Summit has become the premier dairy event in Pennsylvania, offering a mix of management training, industry…
January 3, 2023 marked the first day of trading in the new year. Unfortunately, Class III and Class IV milk prices continued the downward trends that started last year. To start 2023, there are a lot of market dynamics that are pressuring milk prices to continue to move lower. With a larger, more efficient herd…
November Class III and IV prices were announced earlierthis month at $21.01 and $23.30, respectively. The Class III price represents an eighty cents per cwt drop compared to October, and the Class IV price is $1.66 per cwt less than October. With the main holiday buying season over and continued improvement in domestic and world…
The USDA publishes an online calendar of release dates for its most common reports each month. The quickest way to find this calendar is to search for “USDA Report Calendar” in your Internet browser’s search bar. On Google, it is the first site that comes up. For example, dairy exports and dairy product disappearance are…
Last week, I wrote about new risk management resources available in print and online to help dairy farmers and their advisors navigate the sometimes-rough waters of understanding what programs are out there and how to use them to help mitigate milk price risk. In addition to risk management resources, the Center offers a wide variety…
As dairy markets continue to become more volatile and unpredictable, risk management will also become more crucial to managing through milk price downturns. As a teenager, I was old enough to start learning about dairy markets and the dairy economy as I was working alongside my father. Leading up to and through the 1990s, it…
