2018 September Board Book

California Pool Prices

California Minimum Class Prices

Hundredweight Prices

Hundredweight Prices

Class

Apr.

May.

Jun.

Pool Price Feb.

Mar. Apr.

Quota

$14.71 $13.01

$15.07 $13.37

$15.36 $13.66

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

$15.97 $16.09 $17.19 $16.24 $16.36 $17.46 $13.29 $13.29 $14.10 $13.52 $13.52 $14.33 $13.24 $13.24 $14.05 $13.29 $14.06 N/A $14.27 $14.90 N/A

Overbase

So. Calif.

3

California Milk Production Average Daily Basis, 2016 - 2018 CALIFORNIA MILK PRODUCTION Average Daily Basis 2016, 2017, 2018

4a 4b

Quota Transfer Summary

120

Quota Transfers Number of Sellers

Apr.

May.

Jun.

115

4

6 3

110

Pounds of SNF Quota Transferred 5,466 10,662 6,291 Average Price Per Pound of SNF Quota $533 $536 $538

In Million Pounds

105

100

1

2

3

4

5

6

7

8

9

10

11

12

2016

2017

2018

California Alfalfa Hay WeeklyWeighted Average Prices ($/Ton) − Delivered Week Ending April 27, 2018 May 4, 2018 May 11, 2018 May 18, 2018 Delivered Tons Price Range Tons Price Range Tons Price Range Tons Price Range Tulare, Hanford Areas Supreme 3,375 $285-$305 4,285 $285-$305 370 $290-$300 2,300 $285-$300 Premium 2,535 $275-$285 2,035 $280-$290 735 $265-$290 2,850 $270-$290 Good 1,705 $245-$265 825 $255-$265 1,458 $260-$275 2,950 $255-$280 Fair 275 $225-$230 1,000 $230-$240 125 $225-$230 575 $225-$240 Escalon, Modesto, Turlock Areas Supreme 1,100 $290-$310 1,970 $285-$295 925 $285-$300 1,375 $285-$295 Premium 1,775 $270-$285 2,092 $270-$285 915 $265-$285 825 $275-$290 Good 400 $240-$255 375 $250-$260 325 $250-$260 400 $260-$270 Fair 300 $220-$235 225 $220-$230 1,325 $220-$228 175 $220-$230

Source: The Hoyt Report, Inc.

2

California Dairy Review