As we end the first month of 2021 and move into February, this is the time of year when tatistics from the previous year become available. The program year for 2020 Dairy Margin Coverage (DMC) has ended, and the December DMC margin was announced late last week. Information Resources, Inc. (IRI) recently released retail sales…
The first month of 2021 is nearly in the books. We have certainly had somewhat of a tumultuous beginning to the year. Dairy markets are still behaving erratically, but at least for now, they are in dairy farmers’ favor. The Livestock, Dairy, and Poultry Outlook released by the USDA on January 19, 2021 increased its…
January 22, 2021 Markets & Management Update: It is no secret that fluid milk sales have been in an overall decline since after World War II. There have been years, here and there, where fluid milk sales increased slightly year-over year. Unfortunately, we have yet to achieve sustained growth in this area. Certain categories, like…
On December 27, 2020, the Federal administration signed into law a $900 billion stimulus package. Provisions for agriculture and dairy are included in the stimulus bill. I have received several emails and phone calls from folks with questions about the recent bill. While there are perhaps more questions than answers at this point, I thought…
Happy New Year! I did a Google search for the “History of New Year’s Resolutions” to learn the origins of this tradition in preparation for this week’s column. The first several links returned were different sources but told the same basic history. I was surprised to learn that the first recorded evidence of New Year’s…
It is hard to believe that this is my last column of the year and that I have been in Pennsylvania for two years already. December 10th marked my second anniversary working at the Center. It has been a big transition from dairy farmer to risk management consultant. I look forward to another year here…
There is no doubt 2020 has been a volatile year for dairy markets. The milk price swings we have seen are unprecedented, with domestic demand a rollercoaster ride. Restaurant closures led to a loss of nearly 50% of dairy product purchases in just two weeks. The resulting shift from eating out to eating at home…
What comes to mind when you hear the word “communication?” What does communication mean to you? Merriam-Webster defines communication as, “a process by which information is exchanged between individuals through a common system of symbols, signs, or behavior.” This is a broad definition that covers a complex topic. There are four basic types of communication…
Dairy markets are certainly difficult to predict, and a global pandemic makes it nearly impossible. In December 2019, milk prices were forecasted to build on the momentum gained in the latter half of 2019 to be decent in 2020. Of course, there are no guarantees with projections. As we all know, 2020 dairy markets did…
As the month of November ends, milk price volatility continues to define 2020 dairy markets. Earlier this month, the Center released two podcast options to provide relevant dairy information in a more portable format. One option is the “Cow-Side Conversations” podcast. This podcast will feature Jayne Sebright, executive director at the Center, interviewing Pennsylvania dairy…
