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April 2014  Issue No. 417

Inside this months issue...

Dairy Commodities Tumble from Earlier, Too-High Peaks (p. 1):

    Cash markets for Cheddar, butter and milk powder have fallen from their price peaks in March. But that’s not bad. Too much, too soon isn’t healthy for the overall dairy markets. Cheese demand is strong, both domestically and for export. Butter and cream will be scarce in the second half of 2014.

Jan-Feb. ’14 U.S. MPC Exports Top Imports (p. 1):
    Hard to believe. Global dairy proteins are so scarce in early 2014 that the U.S. has become a source, not the usual “dumping ground” for Milk Protein Concentrates.

Resolution of March 2014 Class III “Futures” – Big Pain or Big Gain??? (p. 2):
    Participants in March 2014 Class III Futures positions either suffered big pain or enjoyed big gain. The acceleration of commodity Cheddar prices and the ensuing ripple effect on the Class III (cheese) milk futures levels in USDA’s farm milk pricing program left some very poor … and some very rich … bettors.

March 2014 Class III at $23.33/Cwt., While Class IV at $23.66/Cwt. (p. 2):
    In USDA’s classified price calculations for March 2014, Class III (cheese) milk was down by two cents per hundredweight. Meanwhile, Class IV (butter-powder) milk climbed by twenty cents to $23.66 per hundredweight.

Huge Jump for Jan.-Feb. 2014 U.S. Dairy Exports (p. 3):
    For the first two months of 2014, U.S. exports of cheese climbed 45% and butter exports rose 92% -- compared to 2013.

Beat THAT! $1.33/lb. Live Weight Paid at Auction for Cull Dairy Cow (p. 3):
    A big Holstein cow that wouldn’t get rebred brought $1.33/lb. live weight at an auction for a southern Indiana dairy producer. Beat that. U.S. cattle supplies are tight.

Ex-Wife’s Court documents Tarring Chobani Yogurt Founder’s Image (p. 4):
    Documents filed in their “she say/he say” lawsuit over controlling interest of Chobani Yogurt by found Hamdi Ulukaya’s former wife allege a bevy of financial misdeeds, as well charges he paid a competitor’s former employee for that competitor’s secret Greek yogurt recipe. One way or another, Chobani Yogurt is in play.

Astronomical 2012 Salaries for Dairy Mgmt. Inc.’s Top Executives (p. 4):
    The Milkweed depicts the 2012 salary and compensation packages for Dairy Management, Inc.’s top executives in a new way: the number of dairy cows (of average milk production) needed to bankroll these dairy promotion bozos. On average, the U.S. dairy cow produces 22,000 lbs. of milk each year – or $330 total from the mandatory, $.15 promotion check-off. Example: Tom Gallagher (DMI CEO) needed 2,760 dairy cows to support his $910,786 salary/compensation package for 2012.

USDA: Interferon’s Key to Immediate Immune Defense Against FMD (p. 5):
    Writer Nate Wilson explores the science behind USDA’s recent claims of having successfully fashioned a vaccine for Foot-and-Mouth Disease. Problem is: the swine product “works” but requires such great quantities of materials so as to be mostly impractical. And USDA has nothing new in the way of cattle vaccines against FMD.

Fight Winter Energy Shortage with Early Energy Peak (p. 5):
    Paris Reidhead writes about high-energy yields from harvesting 60-day BMR corn.

What Caused Weird Winter Weather? What to Do Crop-wise? (p. 6):
    Paris Reidhead takes a long look at the scientific explanations for the past winter’s long-lasting, bitter cold. Unfortunately, it looks like spring will be slow and cold in northern states. He then explores crop strategies to cope with Mother Nature’s anticipated “cold shoulder” at the start of this year’s planting season.

Russian Dairy Plant Workers’ Video Catches Bathing in Cheese Vat (p. 7):
    “Comrade, pass the soap.” A drunken bunch of Siberian cheese plant workers celebrated New Year’s Eve with a bath in the cheese vat. Trouble was: somebody took a video of that party and the video went viral.

Feature Story #1: U.S. Dairy Industry Fighting Self-Inflected Injury as GI Battle Heats Up (p. 8 & 10):
    Read the first of this month’s “Stories of the Month” here.

Feature Story #2: European Cheese Name Fight Rooted in U.S. Dairy Import Assessment (p. 9):
    Read our second “Story of the Month” here.

Cheese Name Q&A with Bel Gioioso’s Errico Auricchio (p. 9):
    The president of Bel Gioioso Cheese – Errico Auricchio – is chairman of the Consortium for Common Food Names. In a question-and-answer format, Mr. Auricchio details the industry’s concerns about European Union proposals to disallow use of “Geographic Indicators” for dairy products and foods. Long story short: the Europeans don’t want U.S. firms to produce and market products such as “Parmesan.”

NMPF’s “REAL® Seal” User Fees Sparking Complaints (p. 10):
    The project by National Milk Producers Federation to revise and revive dairy’s “REAL® Seal” is butting against unhappy dairy product marketers. NMPF wants to impose a stiff, annual fee for use of the “REAL® Seal” – which has been available without cost for more than three decades.

Obama’s Dairy Greenhouse Gas Plan: Methane Digesters “Uber Alles” (p. 11):
    As part of the administration’s effort to reduce greenhouse gasses (GHGs), massive construction of methane digesters on large dairy farmer has been proposed by USDA Secretary Tom Vilsack. This proposal merits a lot of study.

DFA “Cleans Up” 2013 Audit … But Still “Lipstick on a Pig” (p. 12):
    Pete Hardin obtained a copy of DFA’s 2013 financial statement earlier than normal this year. Hardin digs into DFA’s 2013 financials and finds some improvement, but basically the same old bundle of bogus assets and debt. Watch DFA ongoing courtroom battles for potential liabilities!

Jan.-Feb. 2014 Dairy Export Data Reflects Major Destinations Shifts (p. 13):
    Export to China up. Exports to Mexico down in the first two months of 2014. Interesting shifts of export destinations for U.S. dairy products.

For 2013, AMPI Recorded $1.8 Bil. In Sales, $7.5 Mil. Earnings (p. 14):
    Associated Milk Producers, Inc. reported 2013 performance at its annual meeting in Bloomington, Minnesota on March 24-25. The co-op has a good story to tell and timed shift of its equity fund generation well, coinciding with current dairy trends.

Kill Transatlantic “Free Trade” talks & deprive Europeans’ “Geographical Indicators” forum (p. 15):
    ete Hardin rants about the notion of depriving U.S. cheese and food marketers of common, traditional names for products. European Union representatives are making noises about putting the “Geographical Indicators” issue on the table at the upcoming Transatlantic Trade and Investment Partnership (T-TIP). Hardin’s solution: junk such future “Free Trade” negotiations. “Free Trade” treaties can supersede U.S. Constitutional guarantees!

Pete Hardin’s comments to USDA Re: regionalization of Brazilian beef imports (p. 15):
    Pete Hardin cites five different instances in which USDA had “regionalized” (okayed) portions of Foot-and-Mouth Disease-infected nations in which new FMD outbreaks generally occurred within a few months. Hardin draws upon the classic definition of “insanity” to conclude in comments to USDA that “doing the same thing repeatedly and expecting different results is insanity.” Readers are urged to make their own comments on “regionalizing” Brazil’s beef industry for imports into the U.S.

Low Reservoirs & Puny Snow Moisture “Lock-In” 2014 California Drought (p. 16):
    The early April 2014 data are in from California for reservoir levels and the moisture content of the snow pack in the mountains. Reservoirs are 15% below normal capacity. Snow moisture content is 29% of normal.

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