(Continued from Page Al 6)
nonfat dry milk, which is easily
exported in order to eliminate it
weighing on the domestic market,
to cheese production. This over
production of cheese has pounded
prices even more.
NASS announced that US
cold storage holdings of butter on
May 31 totalled 43.4 million
pounds, down 1.3% from April,
but 27.6% more than May 1996.
Natural American cheese
holdings totalled 451.4 million
pounds, up 4.9% from April and
15.8% more than a year ago. Non
fat dry milk holdings at the end of
April total 119 million pounds,
45.1% more than March and 8.2%
above a year ago.
According to ERS and AMS,
commercial disappearance of dairy
products during the first 4 months
of 1997 totalled 51.2 billion
pounds, 1.4% more than the
comparable period a year ago.
Comparing disappearance
levels with the same period a year
ago, fluid milk products were
down 0.7%, non-fat dry milk was
down 14% and butter down 5.2%,
while American cheese was up
3.5%.
According to ERS, per capita
consumption of fluid milk and
cream products totalled 224
pounds in 1996, 1 pound more
than in 1995. Compared to 1990,
consumption is down 10 pounds.
Per capita consumption of
American cheese totaled 12
pounds, 1.7% more than 1995 and
8.1% more than 1990.
Per capita consumption of
other cheese was 15.7 pounds,
1.9% more than 1995 and 16.3%
more than 1990.
The USDA's National
Agricultural Statistics Service
(NASS) will announce the June
Basic Formula Price for milk
Thursday at 1500 ET. Brokers
expect to see a BFP price from
10c lower to 30c higher than
DAIRY WEEK
MARKET PRICE COMMENTARY
DAIRY
May’s $10.70/cwt BFP.
Also, NASS said it will
release the "Cheddar Cheese
Prices" report covering the week
ending Jun 27 on Thursday at
1500 ET. The inclusion of cheese
price data for this period will
result in a more representative
monthly average cheese price for
use under Federal milk orders.
In southern California and
many parts of the Northeast,
Central, and Southwest regions,
farm level milk production was
seen declining, NASS said. Cool
and wet weather conditions in the
Pacific Northwest were boosting
milk production there.
Ice cream production is
increasing seasonally and
absorbing more cream.
Butter churning schedules in
most areas were lighter as cream
offerings are tighter than in past
weeks. Widespread hot weather
has caused milk
production to drop which in turn,
affects cream availability.
Improving demand for ice
cream and other cream-based
products also pulls cream away
from churns. Demand for butter
ranges from slow to fair, the
USDA said.
FUTURES AND CASH
PRICES CSCE BFP milk futures
were lower to steady on heavy
stock, but some relief in stocks
surplus may curb those losses as
hot weather limits supply some.
Jun BFP milk was down 3c
at $10.70/cwt, while Jly fell 5c to
$11.20.
CSCE raw milk futures fell
4c basis Aug, on building
inventories. Aug settled at
$13.46 on Tuesday, while Oct
was steady at $13.85.
Nonfat dry milk traded at the
CSCE was unchanged on
Tuesday. Nonfat dry milk traded
for Jly delivery was steady at
105.00 c, with Aug at 106.50 c.
Cheddar cheese futures were
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firmer in the nearby Aug market,
while Oct fell. Aug was up 20
points at 124.50 c, while Oct fell
200 points to 131.00 c on
Tuesday.
CSCE raw milk open interest
was at 42 lots, unchanged on
Tuesday, while cheddar cheese
futures were steady at 23 lots, and
nonfat dry milk was steady at 70
lots.
CSCE butter futures open
interest was unchanged at 187
lots.
BFP milk traded at the CME
for Aug delivery was unchanged at
$11.96/cwt.
CME butter futures were all
lower. Jly fell 125 points to
109.00 c, while Sep fell 150
points to 112.75 c on Tuesday.
On Tuesday, CME BFP milk
open interest was steady at 7 lots.
CME butter futures fell 2 lots at
318 lots.
At the Chicago Mercantile
Exchange, all grades of bulk
butter are unchanged. Grade A A is
still at $1.1300, Grade A is at
$1.0500, and Grade B is $1.0500.
CME cash cheese prices are
also unchanged with barrels still
at $1.1225, and 40-pound block at
$1.1675.
FEED GRAINS
Normal wheat harvest price
pressure continues across the
central US. The wheat harvest is
expected to dominate Kansas
during the Independence Day
weekend.
Farther east, Evansville, Ind.,
merchants said southern Indiana
farmers should be 70% complete
with the area's harvest by the end
of the weekend.
"The farmer's the most
optimistic person in the world," a
southern Indiana merchant said.
Forecasters again predict
severe weather today in the
northern Plains and the northern
Midwest. Merchants said farmers
in parts of Minnesota are cleaning
up after some storms carrying 95-
100 mile per hour straight-line "It helped, but they're still
winds moved through the state. going to have below-average
The storm system dumped yields," one Minneapolis
heavy rain on western North merchant said. "The crop is
Dakota's wheat crop, which was beyond redeveloping tillers at this
begging for moisture. But point
Preservation
Report Released
YORK (York Co.) The June
1997 issue of the Farmland Pre
servation Report, released the
results of a survey they conducted
over the last month. The survey
examined the farmland preserva
tion activity within ISO localities
located across the United States.
The survey indicated the
nation’s newest lineup of the top
10 counties with regards to the
number of farmland acres pre-
served through a purchase of
development rights (PDR) pro
gram which is administered and at
least partly funded at the local
level. The lineup revealed the
following:
County/State
Montgomery County/MD
Carroll County/MD
Marin County/CA
Lancaster County/PA
Harford County/MD
Sonoma/CA
Caroline/MD
Howard/MD
Baltimore/MD
York/PA
#9
#lO
York County’s Board of Com
missioners assembled their Erst
Ag Preserve Board during the
summer of 1989 to begin the work
necessary to reduce the trend of
alarming farmland loss and ensure
that viable agriculture remains in
this county. From the Census of
Agriculture, between 1987 and
1992 York County lost 26,187
acres of farmland to non-agricul
tural land uses. York County Ag
Preserve Board received authori
zation from the PA Department of
Agriculture in August of 1990 to
operate the Conservation Ease
ment Program and evaluate appli-
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Spraying Since 1961
Lancaster Farming, Saturday, July 5, IM7-A3l
merchants said some of that rain
may have occurred too late.
cations for development right’s
purchase.
Evciy York County board of
commissioners, since the program
began, has supported this effort
and recognized the vital import
ance of protecting our agricultural
resources. York County has
invested approximately $3 million
toward the program, while the
state has spent $16,448,879 to
date in Yoik County.
The Farmland Preservation
Report is a monthly report owned,
written, and edited by Deborah
Bowers, Bowers Publishing. 900
La Grange Road, Street, MD
21154, (410) 692-2708.
£
Acres Preserved
45,775 acres
25,543 acres
25,504 acres
24,232 acres
22,500 acres
21,162 acres
19,198 acres
17,473 acres
12,383 acres
11,139 acres