Lancaster farming. (Lancaster, Pa., etc.) 1955-current, April 29, 2000, Image 32
A32-Lancaster Farming, Saturday, April 29, 2000 FUTURES MARKETS (Continued from page Al 6) million head, 57,000 head more than a year ago and 4,000 head more than a month ago. So where is all this extra milk coming from? Surprisingly, just about everywhere. In the west, milk production is up as follows: California (4.5 percent), Idaho (12.7 percent), and New Mexico (11.5 percent). In the Cornbelt, Indiana was up a whopping 13.3 percent. In the Appalachian region Kentucky was up 4.0 percent and Virginia was up 4.9 percent. In the Northeast, Pennsylvania was up 4.2 percent and Vermont was up 4.3 percent The outlook for milk prices will continue to remain bearish (pessimistic) until the number of cows on farms, and the milk supply, begins to decline. The market will be looking for growth rates in the 2-2 5 percent rate In the second market report, USDA reported Thursday that stocks of American cheese as of March 31, 2000 were 530 2 million pounds, up 13 4 percent from a year ago. And stocks of total cheese were 727 3 million pounds, up 12 7 percent. Cheese stocks continue to grow month over-month and year-over-year. Farm Groups Comment On USDA Meat Price Reporting WASHINGTON—WhiIe farm groups praised it, the na tion’s biggest meat packers blasted the USDA’s proposal for mandatory livestock price re porting saying it would be too costly. The criticism from privately owned Cargill Inc. and Kraft Foods, a unit of Philip Morris Co., were among the hundreds of comments in letters submitted to the USDA as it considers launching the new twice-daily reporting of prices paid to farm ers and ranchers. Small and medium-sized live stock farmers support the USDA’s proposal, saying the consolidation within the live stock processing industry made it harder to gauge commodity Butter stocks also grew in March from the month before, totaling 97.2 million pounds. But that's 10.4 percent below a year ago. Sales of butter must have been very good the first quarter of 2000. I re-estimated my forecast of milk prices for the remainder of 2000. Those forecasts are in tables 2-4 below. I have reduced the peak Class 111 price from over $l3 per cwt to just over $12.50 per cwt in September and October. My 2000 forecast for the average Class 111 price will be just $10.90 per cwt, compared to $12.43 the year before. I would not be surprised if my forecast for the second half of the year wereparticularly regarding cheese prices and the Class 111 price. I would expect higher prices if 1) the economy continues to improve, 2) cow numbers begin to level off and decline, and 3) the summer heat and dry weather slows the growth m the milk supply. For more information on market and federal order data, see my Penn State Dairy Outlook website at; http://www.aers.psu.edu/dairyoutl ook/. prices. The proposed rule came at the request of Congress after family farm groups complained they did not receive fair market prices because large companies dominate U.S. meat packing purchases. The USDA is ex pected to take several months to review the suggestions and criti cisms before finalising a price reporting plan. Four U.S. companies slaugh ter 80 percent of all fed cattle, 55 percent of all hogs and 80 per cent of all lambs, according to the USDA. The American Farm Bureau praised the proposal for taking a major step toward providing producers with useful informa tion. Table 4 Class Price Forecasts under Older Reform, CWT Prices at 3 5 Percent Butterfat Class I Base Price Class II Class 111 1999 2000 1999 2000 1999 Jan Feb Mar Apr 1/ May 1/ Jun 1/ Jul 1/ Aug 1/ Sep 1/ Oct 1/ Nov 1/ Dec 1/ Yr. Avg 1/ Forecasts Forecasts provided by Ken Bailey, Penn State University, April 21,2000 New Mid-Mount Loader For XL Tractors NEW HOLLAND (Lancaster Co.) - A New Holland TL tractor (56 to 82 PTO hp) with a Model 52LA loader is an ideal combination for loader work. Short cycle times and a 76-degree dump angle and maximum lift height of more than 11 feet helps make quick work of big jobs. The Model 52LA fits all New Holland TL tractors. A TL tractor can be equipped with optional dedicated mid-mount remotes and four-way joystick to simplify loader work and leave the rear remotes free to handle WE CUSTOM MANUFACTURE Painted, Galvanized and Stainless Steel Fabrication, Feed Sins, Feeders, Hoppers, Covers, Dump Pits, Augers, and Control Systems to Automate Your Operation. 17 14 1143 17 64 11 51 1657 11.71 1057 12 16 1192 12.13 12 11 12.12 11.56 12.12 1172 12.12 13 89 12.12 16.09 12.12 16 56 11.69 11 79 11 26 13 96 11.87 16 84 10 90 17 34 10 71 16 27 10 84 10 27 10 93 11 62 11 48 1181 1142 11.26 1142 11.42 11.47 13 59 12 02 15.79 12.54 16 26 12.54 11.49 12 06 13.66 11.53 other functions such as baling, rear blading, or mowing. With the option al mid-mount remotes, the loader can be attached or removed in just min utes. The 52LA loader features a low, narrow profile for oustanding visibil ity and excellent fit to the tractor. The mid-mount design allows full turn ing, even if the tractor is equipped with fenders. The mid-mount design also improves serviceability by elim inating the need for bulky bracing at the front of the tractor. Optional automatic term systems 608 E. Evergreen Road, Lebanon, PA 17042 Phono; 717-Jt74-8333 e-mail: afs®nbn.com Class llla/lV 1999 2000 2000 mechanical self-leveling reduces spills and optional four-bar linkage allows a bucket rollback of up to 40 degrees. The 52LA loader is engineered with the same mounting plate used in New Holland skid-steer loaders, making many skid-steer attachments interchangeable. A full range of attachments is available specifically for these loaders, including pin-on or optional quick-attach buckets, bale spear and pallet forks.