2017 May Board Book

Quota Transfer Summary

California Pool Prices

Quota Transfers Number of Sellers Pounds of SNF Quota Transferred

Feb.

Mar.

Apr.

Pool Price

Dec.

Jan.

Feb.

6

4

8

Quota

$17.50 $15.80

$17.35 $15.65

$17.19 $15.49

Overbase

8,523 2,752 9,494

Average Price Per Pound of SNF Quota $544 $550 $535

Average Daily Basis, 2015 - 2017 California Milk Production

California Minimum Class Prices

125

Hundredweight Prices Class Feb.

120

Mar.

Apr.

1 No. Calif. So. Calif. 2 No. Calif. So. Calif.

$18.13 $18.40 $15.65 $15.89 $15.60 $15.40 $15.81

$18.62 $18.89 $15.65 $15.89 $15.60 $13.96 $13.76

$16.76 $17.04 $15.11 $15.34 $15.06

115

110

In Million Pounds

3

105

4a 4b

N/A N/A

100

1

2

3

4

5

6

7

8

9

10

11

12

2015

2016

2017

California Milk Production Cost Comparison, by Region, 2015-2016

North Coast

North Valley

South Valley

Southern California

Statewide

Weighted Average

Quarter

2015

2016

2015

2016

2015

2016

2015

2016

2015

2016

Dollars per Hundredweight

1st Quarter

Total Costs

$26.65 $28.57 $17.89 $17.07 $17.37 $16.45 $16.49 $16.28 $17.71 $16.94

Total Costs & Allowances*

$28.37 $30.65 $19.29 $18.53 $18.78 $17.95 $17.86 $17.77 $19.12 $18.44

2nd Quarter

Total Costs

$25.04 $26.50 $17.37 $16.72 $17.07 $16.12 $16.00 $15.53 $17.30 $16.54

Total Costs & Allowances*

$26.77 $28.30 $18.81 $17.99 $18.52 $17.46 $17.40 $17.00 $18.74 $17.87

3rd Quarter

Total Costs

$26.70 $27.04 $17.92 $16.80 $18.05 $16.43 $17.26 $16.36 $18.16 $16.82

Total Costs & Allowances*

$28.67 $28.80 $19.48 $18.11 $19.64 $17.82 $18.87 $17.94 $19.74 $18.19

4th Quarter

Total Costs

$29.47 $28.49 $18.02 $16.44 $17.71 $15.81 $17.44 $15.45 $18.08 $16.31

Total Costs & Allowances*

$31.66 $30.47 $19.67 $17.85 $19.34 $17.29 $19.13 $17.10 $19.74 $17.78

* Includes an allowance for management and a return on investment.

California Alfalfa Hay WeeklyWeighted Average Prices ($/Ton) − Delivered

Week Ending

February 24, 2017

March 3, 2017

March 10, 2017

March 17, 2017

Delivered

Tons

Price Range

Tons

Price Range

Tons

Price Range

Tons

Price Range

Tulare, Hanford Areas

3,600

$240-$255

900

$240-$250

575

$245-$255

2,225

$245-$250

Supreme

500

$230-$235

5,050

$220-$240

400

$230-$240

975

$230-$235

Premium

200

$210-$220

900

$190-$215

700

$200-$220

2,175

$190-$215

Good

700

$165-$170

-

No Sales

1,300

$165-$170

700

$175-$185

Fair

Escalon, Modesto, Turlock Areas Supreme

50

$250

750

$245-$265

925

$248-$255

75

$240-$250

Premium

175

$218-$240

225

$218-$240

1,150

$225-$250

225

$225-$230

Good

250

$185-$215

125

$190

100

$200-$210

-

No Sales

Fair

400

$165-$170

350

$165-$175

250

$155-$170

200

$180-$190

Source: The Hoyt Report, Inc.

2

California Dairy Review