2018 December Board Book

California Minimum Class Prices

California Pool Prices

Hundredweight Prices

Hundredweight Prices

Pool Price Jun.

Jul. Aug.

Class

Aug.

Sep.

Oct.

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

$16.14 $16.87 $18.13 $16.41 $17.14 $18.40 $14.40 $14.40 $14.49 $14.63 $14.63 $14.73 $14.35 $14.35 $14.44 $14.05 $14.09 N/A $15.06 $15.62 N/A

Quota

$15.94 $14.24

$15.57 $13.87

$16.13 $14.43

Overbase

Quota Transfer Summary

So. Calif.

3

4a 4b

Quota Transfers Number of Sellers Pounds of SNF Quota Transferred Average Price Per Pound of SNF Quota

Aug.

Sep. Oct.

11

8

7

15,168 9,081 6,644

$534 $512 $483

Milk Production Cost Comparison Summary for California 2017-2018 California Milk Production Cost Comparison, by Region, 2017-2018

North Coast

North Valley

South Valley

California Southern

Statewide

Weighted Average

Quarter

2017

2018

2017

2018

2017

2018

2017

2018

2017

2018

Dollars per Hundredweight

1st Quarter

Total Costs

$29.08 $28.89 $15.76 $16.02 $15.41 $15.49 $15.41 $14.60 $15.85 $15.92

Total Costs & Allowances*

$31.17 $30.77 $17.15 $17.25 $16.87 $16.78 $17.04 $15.99 $17.30 $17.19

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

California Alfalfa Hay WeeklyWeighted Average Prices ($/Ton) − Delivered Week Ending August 24, 2018 August 31, 2018 September 7, 2018 September 14, 2018 Delivered Tons Price Range Tons Price Range Tons Price Range Tons Price Range Tulare, Hanford Areas Supreme 175 $275 500 $275-$280 250 $275 100 $275-$280 Premium 3,575 $250-$270 1,320 $245-$272 650 $265-$270 - No Sales Good 475 $235-$245 1,600 $225-$245 975 $225-$238 - No Sales Fair 5,275 $202-$225 8,125 $205-$220 2,600 $205-$215 4,750 $205-$215 Escalon, Modesto, Turlock Areas Supreme 400 $290 250 $270-$280 100 $275-$285 725 $275-$280 Premium 2,050 $245-$275 775 $240-$270 - No Sales 435 $255-$260 Good 2,175 $215-$235 350 $220-$245 300 $220-$240 331 $225-$235 Fair 675 $185-$200 1,880 $190-$205 650 $190-$205 700 $200-$205

Source: The Hoyt Report, Inc.

2

California Dairy Review