2018 September Board Book

California Pool Prices

California Minimum Class Prices

Hundredweight Prices

Hundredweight Prices

Class

May.

Jun.

Jul.

Pool Price Mar.

Apr. May.

Quota

$15.07 $13.37

$15.36 $13.66

$15.93 $14.23

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

$16.09 $17.19 $16.86 $16.36 $17.46 $17.13 $13.29 $14.10 $14.10 $13.52 $14.33 $14.33 $13.24 $14.05 $14.05 $14.06 $14.22 N/A $14.90 $14.43 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

May.

Jun.

Jul.

115

6

3 5

110

Pounds of SNF Quota Transferred 10,662 6,291 7,276 Average Price Per Pound of SNF Quota $536 $538 $539

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 May 25, 2018 June 1, 2018 June 8, 2018 June 15, 2018 Delivered Tons Price Range Tons Price Range Tons Price Range Tons Price Range Tulare, Hanford Areas Supreme 1,945 $290-$305 2,075 $290-$305 550 $290-$295 2,700 $285-$297 Premium 550 $270-$287 1,850 $270-$290 775 $267-$290 5,625 $270-$285 Good 3,345 $260-$275 3,485 $260-$270 1,643 $255-$265 650 $245-$270 Fair 850 $230-$240 2,175 $225-$240 525 $225-$230 1,550 $225-$240 Escalon, Modesto, Turlock Areas Supreme 650 $285-$300 900 $290-$295 460 $285-$300 1,425 $290-$295 Premium 1,600 $265-$280 750 $270-$285 1,100 $265-$285 1,995 $255-$278 Good - No Sales 600 $260-$270 350 $250-$260 - No Sales Fair 950 $230-$235 335 $215-$225 1,750 $215-$230 625 $210-$225

Source: The Hoyt Report, Inc.

2

California Dairy Review