2017 May Board Book

Quota Transfer Summary

California Pool Prices

Quota Transfers Number of Sellers Pounds of SNF Quota Transferred

Mar.

Apr.

May.

Pool Price

Jan.

Feb.

Mar.

4

8

3

Quota

$17.35 $15.65

$17.19 $15.49

$15.84 $14.14

Overbase

2,752 9,494 865

Average Price Per Pound of SNF Quota $550 $535 $547

Average Daily Basis, 2015 - 2017 California Milk Production

California Minimum Class Prices

125

Hundredweight Prices Class Mar.

120

Apr.

May.

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

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

$16.76 $17.04 $15.11 $15.34 $15.06 $13.73 $14.30

$16.65 $16.92 $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

March 31, 2017

April 7, 2017

April 14, 2017

April 21, 2017

Delivered

Tons

Price Range

Tons

Price Range

Tons

Price Range

Tons

Price Range

Tulare, Hanford Areas

2,350

$245-$250

2,000

$243-$260

250

$245-$260

800

$245-$260

Supreme

6,165

$225-$245

4,755

$220-$250

5,675

$220-$245

6,800

$230-$250

Premium

2,250

$190-$225

800

$200-$210

1,875

$195-$225

900

$193-$220

Good

2,000

$175-$185

250

$175-$180

-

No Sales

1,100

$175-$180

Fair

Escalon, Modesto, Turlock Areas Supreme

100

$250

400

$245-$255

350

$250-$270

100

$252-$255

Premium

100

$225-$230

100

$230-$245

700

$220-$245

850

$225-$245

Good

200

$200-$210

-

No Sales

900

$195-$225

900

$210-$225

Fair

700

$180-$190

100

$180-$185

1,200

$180-$185

2,000

$175-$180

Source: The Hoyt Report, Inc.

2

California Dairy Review