USDA's May 9, 2014, World Agricultural Supply and Demand Estimates Report to Incorporate One Change
WASHINGTON, May 1, 2014 – The next World Agricultural Supply and Demand Estimates (WASDE) report, which will be released at 12 noon ET on May 9, will present USDA's initial assessment of U.S. and world crop supply and demand prospects and U.S. prices for the 2014/15 marketing year. It will also present the first calendar-year 2015 projections of U.S. livestock, poultry, and dairy products.
The 2014 Farm Bill eliminated the Dairy Product Price Support Program and the Dairy Export Incentive Program and created a Dairy Product Donation Program requiring USDA to purchase dairy products for donation to food banks and other feeding programs during periods of low operating margins for dairy producers. The WASDE U.S. Milk Supply and Use table on page 33 has been reformatted because of these changes. The "CCC Net Removals" subcategories under Fat Basis Use and Skim-solid Basis Use have been changed to "CCC Donations." The category for "CCC product net removals" for butter, cheese, nonfat dry milk and whole milk powder has been eliminated.
An example of the change can be found in this announcement from the Office of the Chief Economist.
Background on USDA's WASDE report and past issues are available at: www.usda.gov/oce/commodity/wasde/.
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