commodity markets update - webinar · june 27, 2017 commodity markets update - webinar msu is an...
TRANSCRIPT
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Host: Dennis Stein, Farm ManagementPresenter: James Hilker, SpecialistPresenter: Chris Wolf, Specialist
June 27, 2017
Commodity MarketsUpdate - Webinar
MSU is an affirmative-action, equal-opportunity employer. Michigan State University Extension programs and materials are open to all without regard to race, color, national origin, gender,
gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status or veteran status.
MSU is an affirmative-action, equal-opportunity employer. Michigan State University Extension programs and materials are open to all without regard to race, color, national origin, gender, gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status or veteran status.
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Dairy Market Situation and Outlook
June 2017
Christopher Wolf
Michigan State University
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Always Interesting Times in the Dairy Industry
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40Source: Andy Novakovic
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41Source: Andy Novakovic
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Thousand $
Source: Andy Novakovic
44Source: Andy Novakovic
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Market Balancing and Coordination
• When milk supply is long or does not make it to a plant two possibilities:
– Distressed milk: sold at a deep discount
– Dumped milk: 0.1 to 0.2% is dumped because rejected or spoiled; 0 to 2% is sometimes dumped for lack of a market
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Milk Dumped Mideast Order (pounds)
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0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
18000000
20000000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 2016 Average 08‐14
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0
0.2
0.4
0.6
0.8
1
1.2
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
% of Monthly M
ilk Receipts
2015 2016 2017 Average 08‐14
Milk Dumped Mideast Order (%)
48Source: John Newton
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2017 Average Margin $10.01/cwt2018 Average Margin $8.18/cwt
Presenter‐ Dairy Markets
• Chris Wolf, Ph.D.
• Extension Specialist & Professor
• Phone: 517‐355‐3974
• Specialty:
• Dairy Production and Risk Management
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For copies of Webinar Recording & Power Point Slides visit the web pages below, normally posted within 24 hours
Dennis Stein, Extension Educator, Michigan State University Extension362 Green Street, Caro, MI 48723
Phone: 989.672.3870
email: [email protected]
Web: https://www.msu.edu/user/steind/
Web MSUE: http://firm.msue.msu.edu/
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