While soybean meal prices remain depressed, merchandisers point to heavy rains that will significantly delay this year’s Indian harvest. The harvest in Indian comes during the Q4, like the US harvest. While the US experienced heavy rains in the late spring, Indian is experiencing a deluge of precipitation now, which could put upward pressure on imported organic grain prices. The state of Madhya Pradesh continues to get pummeled with rain and exporters are now saying that output could be down significantly. According to Accuweather, the Madhya Pradesh is expected to experience rain in 7 of the next 10-days during the balance of the month of September. Prices of organic soybean meal prices could experience a squeeze.
Organic Milk Sales Rise
Organic Milk Product Sales moved higher according to the Agricultural Marketing Service. The AMS reports that “July estimated sales of total organic fluid milk products increased 4.6% year over year to 217 million pounds but was down 3.3% for the first 7-months of the year on a year over year basis.” Total organic whole milk products sales for “July 2019, 95 million pounds, were up 11.4% year over year according to the AMS and were up 2.3% year over year compared to the same 7-months of 2018. July low fat milk sales declined 1% to 17.4 million pounds. For the first 7-months of the year organic low-fat milk sales were down 12% compared to January-July period of 2018.”