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2

California Dairy Review

Source: The Hoyt Report, Inc.

California Alfalfa Hay WeeklyWeighted Average Prices ($/Ton)

Delivered

Hundredweight Prices

Class

Mar.

Apr.

May.

1

No. Calif.

$18.62

$16.76

$16.65

So. Calif.

$18.89

$17.04

$16.92

2

No. Calif.

$15.65

$15.11

$15.11

So. Calif.

$15.89

$15.34

$15.34

3

$15.60

$15.06

$15.06

4a

$13.96

$13.73

N/A

4b

$13.76

$14.30

N/A

Pool Price

Jan.

Feb.

Mar.

Quota

$17.35

$17.19

$15.84

Overbase

$15.65

$15.49

$14.14

Quota Transfers

Mar.

Apr.

May.

Number of Sellers

4

8

3

Pounds of SNF Quota

Transferred

2,752 9,494 865

Average Price Per

Pound of SNF Quota $550 $535 $547

California Pool Prices

Quota Transfer Summary

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

Supreme

2,350

$245-$250

2,000

$243-$260

250

$245-$260

800

$245-$260

Premium

6,165

$225-$245

4,755

$220-$250

5,675

$220-$245

6,800

$230-$250

Good

2,250

$190-$225

800

$200-$210

1,875

$195-$225

900

$193-$220

Fair

2,000

$175-$185

250

$175-$180

-

No Sales

1,100

$175-$180

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

California Minimum Class Prices

100

105

110

115

120

125

1

2

3

4

5

6

7

8

9

10

11

12

In Million Pounds

2015

2016

2017

Average Daily Basis, 2015 - 2017

California Milk Production

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

2015

2016

2015

2016

2015

2016

2015

2016

2015

2016

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

Quarter

North

North

South

Southern

Statewide

Coast

Valley

Valley

California

Weighted Average

Dollars per Hundredweight

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