DairyCast Update for May 24, 2012, Do We Have A Secure Milk Supply?

Foot and Mouth Disease presents special problems for the dairy industry which are reason for special planning, like the Secure Milk Supply Project. Dr. Pam Hullinger, University of California-Davis, shares this update with attendees at the National Institute for Animal Agriculture annual meeting. Dr. Hullinger's full presentation along with many others from this important industry meeting are available online at TruffleMedia.com.

Markets Make The World Go Around

milk markets Markets Make The World Go Around Markets exist to help smooth the flow of information and make the future more predictable. But sometimes it takes a Ph.D. to figure out what is going on when corn goes above $8 and you are sitting on several thousand bushels.

To help figure out markets in general, look in to the video Backwardation Bullish or Bearish (less than 5 minutes, from The Khan Academy). This is a very simple video but it helps set the tone about markets and what they might do. For a more advanced look at futures markets, check out this Yale University Forwards and Futures class lecture (~1 hour 10 minutes).

Is the US milk supply at risk?

Where does milk come from besides "cows"? This maps shows that 50% of US milk comes from a small number of counties.
If a dairy disease outbreak occurs in relatively few regions in the country, this would have a huge impact on milk production and availability to consumers throughout the country.

Dr. Terry Etherton highlights that these concentrations are a risk from a disease outbreak point of view, and also from bioterrorism point of view.
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