Dairy market shifts after 1987 budget act restrains sequester
The Budget Reconciliation Act of 1987 ends sequester for dairy price contracts with the Commodity Credit Corporation. A 2.5 cent per hundred pounds tax applies to milk marketed in 1988. November butter and cheese stocks fell from 1986 and October 1987 levels. CPI shows dairy up 2.32 percent. whole milk, cheese, and other dairy items rose. National Cheese Exchange prices held steady. CCC purchases totaled 6.5 billion pounds for the fiscal year. Dairy cattle slaughter, exports, and Wisconsin milk shipments to Michigan are noted amid holiday plant scheduling.
MENTIONED IN THIS ARTICLE
Commodity Credit Corporation
Holiday cattle market slips as packers slow trading
Slaughter cattle and hog prices eased early in the week amid holiday plant closures. South St. Paul bids show steers at 63.50 to 64.50 for 1,000 to 1,400 pounds with Holstein grades around 58 to 60 while cows ranged 44 to 50. Hog values edged up for light weights then fell for larger pigs, and feeder pig volumes remained thin. Manitowoc Lake to Lake Dairy Cooperative disclosed 266000 payout to stockholders and bond holders at 8 percent, supporting capital improvements.
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South St. Paul
Lake To Lake Dairy Cooperative
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