Dairy Situation &Outlook
What did we say last year? Remember?
But no one forecasted :
PPT Slide
So what is going on?
Relatively small changes, or anticipated changes in either milk production or sales of milk and dairy products results in big changes in farm level milk prices.
What happened in 2001?
2001 Compared to 2000
A major factor for less milk is relatively poor production per cow. Why????
Commercial Disappearance 2001 compared to 2000:
Retail Prices Nov 2001 vs 2000
Production of Dairy Products: Nov 2001 vs Nov 2000
Feb 1, 2002 CME Prices
Outlook for 2002?
The reality is:
Well let’s consider some probabilities:
Out look continued
USDA is more pessimistic (optimistic) for 2002
With USDA’s stronger milk production, there price forecast is less optimistic for 2002.
We know that final milk prices may turn out quite different’ especially for the second half of the year.
Will the following happen in 2002?
Email: bthomas@agecon.uga.edu
Home Page: http://www.ces.uga.edu/Agriculture/agecon/workshops/dcon02pro.htm
PowerPoint Presentation: http://www.ces.uga.edu/Agriculture/agecon/workshops/ppt/dsitcropp/dsitcropp.ppt