The Free Webinar Will Be Held on July 26 at 12 p.m. and Provide Dairy Market Updates
The Center for Dairy Excellence is hosting a special edition of its monthly “Protecting Your Profits” webinar on Wednesday, July 26 from 12-1 p.m. Titled “How Biosecurity Can Protect Dairy Operations” and led by Zach Myers, Risk Education Manager with the Center, the webinar will feature Dr. Hayley Springer from Penn State Extension. Dr. Springer will share how the dairy industry can begin to prepare for a potential outbreak of high-consequence animal diseases and the value this preparation can have in the face of a biosecurity crisis. Myers will also review current data and updates about the milk marketplace to guide decision-making and risk management strategies. Individuals can join the live discussion via conference call or webinar format. The recording will also be released after the event.
“Dr. Hayley Springer will be joining us on this month’s webinar to share how enhanced biosecurity plans can protect dairy operations – and how we can work together to make biosecurity a priority across the dairy industry. I hope you’ll join us for this important discussion,” Myers shared.
Dr. Hayley Springer began her academic career after time in both mixed and dairy-only veterinary practice. Her ongoing clinical work primarily revolves around calf health and management of infectious diseases in cattle. She is also involved in both livestock-related and vector-borne-disease extension work, as well as teaching in livestock production, veterinary science, and One Health courses. Her research interests are in pre-harvest food safety with a focus on managing antimicrobial resistance on dairy and veal farms.
“The recent challenges the poultry industry has faced with HPAI is a stark reminder that all aspects of animal agriculture should take steps to prepare for outbreaks of high-consequence animal diseases. This webinar will show dairy professionals how to begin to prepare and the value this preparation can have in the face of an outbreak,” said Dr. Hayley Springer
In addition to the biosecurity discussion, Myers will share the latest export numbers and Class III and IV futures milk price forecasts:
- As of July 14 closing prices, Class III and IV prices have stabilized somewhat from the beginning of June, but are still down compared to the end of June. The 12-month Class III average now sits at $17.00 per cwt, just 15 cents less than the beginning of June. The Class IV average is now $18.35/cwt, just two cents lower than the beginning of June.
- Dairy product production is increasing while exports are decreasing. Domestic demand, in general, is steady to increasing. With exports much less than a year ago, the slight increase in domestic demand is not enough to offset increased milk production that is increasing product production.
- May exports declined for the third straight month. Total exports dropped 4 percent on a milk solids equivalent basis. Total export value dropped 7 percent.
As part of the risk management conversation, Myers will also share the latest Dairy Margin Coverage (DMC) margins. The May DMC margin fell to $4.83 per cwt, falling below the $5 margin coverage for the first time in program history. This triggers indemnities at every margin coverage except $4.00 and $4.50. The May indemnity payment at the $9.50 margin coverage is $3,670 per one million pounds of enrolled production history up to the Tier 1 cap. The net benefit for the year is now $1.16 per cwt.
To join the risk management discussion and access the information in a format that is most convenient for you, the Center offers the series in a webinar, podcast, and conference call format. There is no cost to participate in the monthly ‘Protecting Your Profits’ discussion, and no registration is necessary.
Visit www.centerfordairyexcellence.org/JulyPYP on Wednesday, July 26 at 12 p.m. to launch the webinar and watch live. Follow the Center on Facebook or YouTube to watch a live stream on social media.
Conference Call Format
Individuals who would prefer to connect via conference call can dial the following number on Wednesday, July 26 at 12 p.m.:
Meeting ID: 848 3416 1708
Visit www.centerfordairyexcellence.org/pyp to listen to a recording of the “Protecting Your Profits” discussion in podcast format and subscribe to get notified when new episodes are released. Episodes are expected to be published after the live webinar and conference call are concluded each month.
Join the Center on July 26 to find out how these programs and the conventional price risk management tools can fit in to your marketing plan. For more information, call 717-346-0849 or email Myers at email@example.com. The webinars are recorded and posted on the Center for Dairy Excellence website for those who are unable to join the live session.