Dairy Situation and Outlook
|
|
- Cuthbert Price
- 6 years ago
- Views:
Transcription
1 Dairy Situation and Outlook Piasecki H-21 Improving Employee Engagement Sally Roberts, Blake Robinson, John Droppert June 2017 John Droppert Senior Industry Analyst
2 Last time we spoke March
3 The current situation Three key themes NDFS: Profitability, confidence, trust Ongoing issues within supply chain Underlying confidence in own business is robust Market conditions looking ok Well balanced international market but plenty of risk! Domestic sales growing, but continued pressure on value Relief is in sight Better milk pricing flagged for export regions Input costs likely to stay subdued Modest growth in milk volumes likely 3
4 Confidence is down, but farmers more positive about own businesses National Dairy Farmer Survey (NDFS) 4
5 DairyTas more robust than the national average, but well down National Dairy Farmer Survey (NDFS) 5
6 DairyTas highlights National Dairy Farmer Survey (NDFS) Respondents in this region reported feeling Optimistic because: Demand for dairy (19%) Improved management (16%) Farmgate price ok (11%) Pessimistic because Farmgate price is too low (21%) Cost of production (9%) Milk processor management (9%) 6
7 High proportion of farmers in wait and see mode National Dairy Farmer Survey (NDFS) 7
8 High proportion of farmers in wait and see mode National Dairy Farmer Survey (NDFS) 8
9 Vast majority expecting to grow or maintain production National Dairy Farmer Survey (NDFS) 9
10 Some key take-outs National Dairy Farmer Survey (NDFS) Trust has taken a knock 10% changed processor, 17% would like to Milk price is the key driver, but 21% also cite concerns with processor management, 12% about the clawback, 8% lack trust Profitability is under severe pressure 45% expecting a profit in 2016/17 (80% in 13/14 & 14/15; 62% in 15/16) Farmers have responded in a variety of ways Adjustment to debt arrangements; change herd size (38% / 26%); change supp feeding (30% / 17%) There is a silver lining 1/3 of farmers expecting to grow herd next 12mths 2/3 expecting to grow production next 3 years 72% still see opportunity; milk price correlation 10
11 DairyTas highlights National Dairy Farmer Survey (NDFS) Positivity in this region is significantly reduced compared to 2016 and a downward trend is becoming evident. A considerably lower proportion of the region s respondents made an operating profit last financial year than in 2016 and less than half expect to be profitable this financial year. Over the past 12 months more than half of the region s respondents have extended, refinanced or deferred debt. Significantly fewer respondents invested on farm in the last 12 months and less than half intend to invest this financial year. Almost three quarters of Dairy Tas respondents expect production to be greater by 2019/20. 11
12 May-06 Sep-06 Jan-07 May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 May-10 Sep-10 Jan-11 May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13 Sep-13 Jan-14 May-14 Sep-14 Jan-15 May-15 Sep-15 Jan-16 May-16 Sep-16 Jan-17 May-17 USD/Tonne FOB International markets more balanced for now International market 6000 Boom Droughts (especially NZ) Strong demand (especially China) MORE EFFORT IN TO JOB Butter SMP WMP Cheddar Weaker demand (China, Russia, OPEC) Oversupply (especially EU) Bust
13 Whodunnit? International market 13
14 A look at the competition International market Europe Short term production constraints Intervention United States What milk crisis? Where to from here? New Zealand The parable of the production upside 14
15 Tonnes In general: demand is growing International market 3,000,000 Exports to key markets (total volume) 2,500,000 2,000,000 1,500,000 24% 1,000, ,000-57% MORE EFFORT IN TO JOB Committed employees put in more & 87% are less likely to resign 2 Employees believe volunteer programs help to communicate Company s values 3 Southern AFRICA ASIA - STH EAST MENA Greater China Japan Mexico Russian Federation 2011/ / / / / /17
16 Are there caveats? International market KEY CONCERNS US milk production still growing strongly Europe slower, but responsive NZ will bounce back in spring Demand remains heavily China-focused Stockpiles in Europe and the US Divergence along production lines (fat vs protein) The usuals Brexit/Trump/Greece/Oil 16
17 Solid growth in the domestic market; but value under pressure The Australian market 24% 57% MORE EFFORT IN TO JOB Committed employees put in more & 87% are less likely to resign 2 Employees believe volunteer programs help to communicate Company s values 3
18 Fresh white milk: drift back to private label The Australian market 70% 65% 60% 55% 50% 45% 40% 35% 30% 25% 24% Company branded vs P/L fresh white milk Share of Supermarket Sales 57% MORE EFFORT IN TO JOB Committed employees put in more & 87% are less likely to resign 2 Employees believe volunteer programs help to communicate Company s values 3 Branded Private Label
19 Grain and hay pricing well below 5 year averages Input costs 57% 24% MORE EFFORT IN TO JOB Committed employees put in more & 87% are less likely to resign 2 Employees believe volunteer programs help to communicate Company s values 3
20 Water and fertiliser attractively priced Input costs 20
21 Million litres Milk production has been hit; slow recovery ahead Milk production 1,200 1,100 1, % % Jul 2016-Apr % forecast for 2016/17 (8.95 billion litres) +2% to +3% for 2017/18 (~9.2 billion litres) 57% MORE EFFORT IN TO JOB Committed employees put in more & 87% are less likely to resign 2 Employees believe volunteer programs help to communicate Company s values 3 11/12 12/13 13/14 14/15 15/16 16/17 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
22 Improving as the season progresses, but significant regional differences Milk production Estimated volume growth by state: By Vic regions: May YTD May YTD QLD -2.4% +1.1% Gippsland +0.2% -4.5% NSW -4.7% -5.3% 57% VIC -2.0% -9.0% SA -5.1% -8.1% MORE EFFORT IN TO JOB WA -5.0% -1.8% TAS +3.0% -6.1% Northern -10.2% -17.7% Employees believe volunteer programs help to communicate Company s values 3 Western +5.4% -4.9 %
23 It ain t fixed, but it s not as broke What s ahead? NDFS: Profitability, confidence, trust Some may be rebuilt faster than others Industry level vs individual supply chains Market conditions looking ok Upside appears limited There are plenty of risks Domestic trends unlikely to change anytime soon Relief is in sight Opening prices being announced Input costs likely to stay subdued (not without risk) Modest growth in milk volumes likely; limited by cows, confidence, cash!
24 THANK YOU John Droppert (03) Get the Situation and Outlook Report
Dairy Outlook. June By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook June 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Cheese prices have been rising this past month, rising 16 cents/lb. in a fairly steady climb.
More informationGLOBAL DAIRY UPDATE. Welcome to our November 2014 Global Dairy Update IN THIS EDITION Financial Calendar
GLOBAL DAIRY UPDATE Welcome to our ember Global Dairy Update IN THIS EDITION Fonterra milk collection New Zealand 4% higher in ober and 4% higher for the season to date Australia 8% higher in ober and
More informationExecutive summary. Butter prices at record levels
June 2017 Executive summary Butter prices at record levels South African milk production growth disappointed in the first five months of 2017. Total production during this period is marginally lower than
More informationFor personal use only
MAY 2016 GLOBAL DAIRY UPDATE #431AM SHARE YOUR STORY OUR MARKETS OUR PERFORMANCE In April, Fonterra New Zealand milk collection decreased 3 and Fonterra Australia milk collection decreased 5. Forecast
More informationMilk and Milk Products: Price and Trade Update
Milk and Milk Products: Price and Trade Update International dairy prices December 2017 1 The FAO Dairy Price Index d 204.2 points in November, up 11.2 points (5.8 percent) from January 2017. At this level,
More informationSituation and Outlook of the Canadian Livestock Industry
Situation and Outlook of the Canadian Livestock Industry 2011 USDA Agricultural Outlook Forum Tyler Fulton February 25, 2011 tyler@hamsmarketing.ca Lost in Translation Canadian Livestock Industry - Outline
More informationFor personal use only
18 April 2013 ASX Release TRADING UPDATE Warrnambool Cheese and Butter Factory Company Holdings Limited (WCB) announces that consistent with its half year results announcement on 28 February 2013, the
More informationMichigan s Dairy Industry. Ken Nobis, MMPA President
Michigan s Dairy Industry Ken Nobis, MMPA President ONE CENTURY STRONG 1,200 DAIRY FARMS 5 Billion LBS. OF MILK Quality Integrity Leadership Progressive Community MMPA Locations Products made at Ovid &
More informationSouth African Milk Processors Organisation
South African Milk Processors Organisation The voluntary organisation of milk processors for the promotion of the development of the secondary dairy industry to the benefit of the dairy industry, the consumer
More informationAgri-Service Industry Report
Agri-Service Industry Report December 2016 Dan Hassler 2017 U.S. Industry Outlook A little better or a little worse is the quickest way to sum up the expectations for the agricultural equipment industry
More informationDairy Outlook. January By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook January 2015 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology Dairy prices have fallen in the past month, especially butter prices. The dollar is still
More informationAMT BEEF & MUTTON MONTHLY REPORT JULY Compiled by Pieter Cornelius E mail: NEXT PUBLICATION 7 AUGUST 2017
Enquiries: Dr Johann van der Merwe Cell: 073 140 2698 Web: www.agrimark.co.za E mail: johnny@amtrends.co.za Compiled by Pieter Cornelius E mail: pieter@amtrends.co.za NEXT PUBLICATION 7 AUGUST AMT BEEF
More informationBeef Market Outlook Another year on the rollercoaster? Debbie Butcher, AHDB Beef & Lamb AHDB Outlook Conference 9 February 2016
Beef Market Outlook Another year on the rollercoaster? Debbie Butcher, AHDB Beef & Lamb AHDB Outlook Conference 9 February 2016 Outline State of the UK market Forecast for supplies Wild cards Global developments
More informationAustralian Cattle Annual Review
Australian Cattle Annual Review 2017 About the research The Australian Cattle Annual Review includes data and outlooks on cattle herd and slaughter levels, beef production in Australia and globally, seasonal
More informationDairy Outlook. April By Jim Dunn Professor of Agricultural Economics, Penn State University. Market Psychology
Dairy Outlook April 2017 By Jim Dunn Professor of Agricultural Economics, Penn State University Market Psychology The Class III price in March was $1.07 lower than in February, while the Class IV price
More informationUS Imported Beef Market A Weekly Update
US Imported Beef Market A Weekly Update Prepared Exclusively for Meat & Livestock Australia - Sydney Volume XVII, Issue 47 November 24, 2017 Prepared by: Steiner Consulting Group SteinerConsulting.com
More informationGlobal Market Pulp Statistics
Global Market Pulp Statistics Bleached Kraft Pulp November Data 217 Global Statistics for Bleached Kraft Market Pulp The statistics in this file is based on EPIS (European Pulp Industry Sector) data, distributed
More informationDAIRY AND DAIRY PRODUCTS
3. COMMODITY SNAPSHOTS Market situation DAIRY AND DAIRY PRODUCTS International dairy prices started to increase in the last half of 2016, with butter and whole milk powder (WMP) accounting for most of
More informationOUTLOOK FOR US AGRICULTURE
Agricultural Outlook Forum 216 OUTLOOK FOR US AGRICULTURE Robert Johansson Chief Economist 25 February 216 Fig 2 Main themes for 216 1. The macroeconomy is weighing on trade, but there are reasons for
More informationCattle Market Situation and Outlook
Cattle Market Situation and Outlook Rebuilding the Cow Herd Series March 28, 2007 Falls City, TX Coordinated by: Dennis Hale-Karnes CEA Ag & Charlie Pfluger-Wilson CEA Ag Prepared and presented by: Larry
More information% of Reference Price 190% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Beef & Veal Production (E28 Slaughtering) - Tonnes
EU Trade South Korea Malaysia (up to Sep) EU Japan Japan South Korea Malaysia (up to Sep) in Tonnes cwe Russia (up to Oct) Mexico (up to Sep) Russia (up to Oct) Mexico (up to Sep) Tonnes cw Qty in 1 Tonnes
More informationBeef market outlook. Debbie Butcher, Senior Analyst - Beef & Sheep. Agriculture and Horticulture Development Board 2016 All rights reserved
Beef market outlook Debbie Butcher, Senior Analyst - Beef & Sheep Agriculture and Horticulture Development Board 2016 All rights reserved Change 000 tonnes Last year in a nutshell 35,000 30,000 25,000
More informationU.S. Packing Capacity Sufficient for Expanding Cattle Herd
September 7 U.S. Packing Capacity Sufficient for Expanding Cattle Herd Key Points: n The U.S. cattle industry will remain in expansion mode through the end of the decade. We project total beef production
More informationBEEF OUTLOOK/REVIEW FEBRUARY Compiled by Pieter Cornelius E mail: NEXT PUBLICATION JULY/AUGUST 2017
aa Enquiries: Dr Johann van der Merwe Cell: 073 140 2698 Web: www.agrimark.co.za E mail: johnny@amtrends.co.za Compiled by Pieter Cornelius E mail: pieter@amtrends.co.za NEXT PUBLICATION JULY/AUGUST 2017
More informationAdelaide Hills, Fleurieu & Kangaroo Island. Sustainable Growth For Food & Wine DAIRY
Adelaide Hills, Fleurieu & Kangaroo Island Sustainable Growth For Food & Wine DAIRY The Sustainable Food and Wine Project has four key objectives 1. Combined and Informed 2. Collaboration Initiatives 3.
More informationAmmonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst
Ammonia costs spike sharply higher Nitrogen prices disrupt calm in fertilizer market By Bryce Knorr, grain market analyst Ammonia joined other forms of nitrogen in the parade of higher costs, with contracts
More informationCOMPARATIVE ANALYSIS OF MONTHLY REPORTS ON THE OIL MARKET
COMPARATIVE ANALYSIS OF MONTHLY REPORTS ON THE OIL MARKET Summary findings from a comparison of data and forecast on the oil market by the International Energy Agency, and Organization of the Petroleum
More informationMONTHLY DAIRY. Zero growth for NZ s milk supply 6.36 OCTOBER Inside this issue
OCTOBER 217 MONTHLY DAIRY NZ MILK PRODUCTION FORECAST 217-18 % Inside this issue Dairy commodity markets 2 Milk production 7 Milk price 1 Dairy company share prices 12 AGRIHQ WMP PRICE NZX WMP FUTURES
More informationAn overview of global cement sector trends
An overview of global cement sector trends Insights from the Global Cement Report 1 th Edition XXX Technical Congress FICEM-APCAC 2 September, 213 Lima, Peru Thomas Armstrong International Cement Review
More informationPig Market Outlook. Stephen Howarth AHDB Outlook Conference 11 February 2015
Pig Market Outlook Stephen Howarth AHDB Outlook Conference 11 February 2015 Market Review Producer Margins Global Outlook UK Outlook Wild Cards Overview UK & EU PRICES DOWN, DOWN, DOWN p/kg dw 175 170
More informationIn addition to the phasing of MSSP recovery, to further support farm cash flows in this difficult trading environment:
28 June 2016 Opening Price Circular FY17: Southern Milk Region Murray Goulburn Co-operative Co. Limited (MG) Key points: After undertaking extensive analysis of current market and industry conditions MG
More information% of Reference Price 190% Avg Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec. Male Calves Dairy Type Male Calves Beef Type
EU Canada Chile Chile EU Canada Trade Tonnes cw in Tonnes cwe In Tonnes cwe Russia (up to Aug) Japan Mexico (up to Aug) South Korea Russia (up to Aug) Japan Mexico (up to Aug) South Korea Qty in 1 Tonnes
More informationOnly for further circulation/use in line with the terms and conditions printed on the back cover of this document.
Market Intelligence Monthly market report September 2011 1 Only for further circulation/use in line with the terms and conditions printed on the back cover of this document. 2 SUMMARY UK deliveries to
More informationDairy Market. January 2018
Dairy Market Dairy Management Inc. R E P O R T Volume 21 No. 1 January 2018 DMI NMPF Overview Looking back at 2017, the U.S. Department of Agriculture (USDA) estimates an average U.S. all-milk price of
More informationIN FOCUS: DAIRY JANUARY Author Phin Ziebell, Agribusiness Economist
IN FOCUS: DAIRY JANUARY 18 Author Phin Ziebell, Agribusiness Economist Sunset at Euroa, Victoria Photo Mai Thai CONTENTS 3 Overview 4 Climate outlook 5 Exchange rates and interest rates 6 Farm input prices
More information2009 Full Year Results. September, 2009
2009 Full Year Results September, 2009 Doug Rathbone Managing Director 2009 Full Year results A challenging year Glyphosate profit impact was substantial Credit related pressures in Brazil Non-glyphosate
More informationWorld Apple Juice Situation: Global Apple Juice Production Recedes as China s Apple Crop Declines, Trade To Continue Strong in MY 2005/06
World Apple Juice Situation: Global Apple Juice Production Recedes as China s Apple Crop Declines, Trade To Continue Strong in MY 2005/06 SUMMARY World production of apple juice for market year (MY) 2004/05
More information2017 China Apple Crop Outlook. SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi
2017 China Apple Crop Outlook SDIC Zhonglu Fruit Juice Company Zhonglu America Corporation Michael Choi 1 2016 Crop Review 2 2016 Crop Utilization 3 2017 Crop Forecast 4 Apple Export, Import, Apple Price
More informationUS Imported Beef Market A Weekly Update
US Imported Beef Market A Weekly Update Prepared Exclusively for Meat & Livestock Australia - Sydney Volume XVII, Issue 33 August 16, 2017 Prepared by: Steiner Consulting Group SteinerConsulting.com 800-526-4612
More informationOctober 20, 1998 Ames, Iowa Econ. Info U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND:
October 20, 1998 Ames, Iowa Econ. Info. 1752 U.S., WORLD CROP ESTIMATES TIGHTEN SOYBEAN SUPPLY- DEMAND: USDA's domestic and world crop estimates show a less burdensome world supply-demand balance for soybeans
More informationUnited Nations Conference on Trade and Development
United Nations Conference on Trade and Development 1th MULTI-YEAR EXPERT MEETING ON COMMODITIES AND DEVELOPMENT 25-26 April 218, Geneva Assessing the recent past and prospects for grains and oilseeds markets
More informationSigns align for corn profit hopes Short crop in Brazil could be fix the market needs By Bryce Knorr, senior grain market analyst
Signs align for corn profit hopes Short crop in Brazil could be fix the market needs By Bryce Knorr, senior grain market analyst Corn growers enjoyed an outbreak of optimism last week at Commodity Classic
More informationSanta Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst
Santa Claus rally could help corn Be ready to sell brief rallies when they come By Bryce Knorr, senior grain market analyst Rallies are always possible in corn, even in down markets. Trouble is, they don
More informationMARKET NEWS for pig meat
MARKET NEWS for pig meat Market analysis 9 April 2018 Week 15 MARKET SITUATION Europe: Trading in fresh legs and other cuts is at unchanged prices. UK: Sales are stable with new contracts being entered
More informationUpdate on the Asian Wood Markets
Update on the Asian Wood Markets RISI North American Conference Boston, USA October 16 18, 2017 Bob Flynn Director, International Timber, RISI Copyright 2017 RISI, Inc. Proprietary Information Agenda Market
More informationMid-level Evaluation of Climate Services: Seasonal Forecasts in Kazakhstan
Mid-level Evaluation of Climate Services: Seasonal Forecasts in Kazakhstan Glen Anderson, Chief of Party Climate Change Resilient Development Project Montevideo, Uruguay December 11, 2014 What I will cover
More information% of Reference Price 190% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Beef & Veal Production (E28 Slaughtering) - Tonnes
Iran EU Iran EU Trade Japan Japan South Korea Tonnes cw in Tonnes cwe South Korea Qty in 1 Tonnes World Trade -8.4% Production Production & Stocks -1.8% -4.2% -4.2% -.6% EU Uruguay Paraguay Iran EU Paraguay
More informationPrice developments in the EU
Price developments in the EU Content 1. Development of world agricultural prices over time... 3 2. Price gap between EU and world prices... 7 3. Price volatility... 8 This document does not necessarily
More informationThe World Dairy Situation
The World Dairy Situation 2014 1 1 Summary report on IDF Bull. 476/2014 World Dairy Situation 2013 available from IDF www.fil.idf.org Introduction The 2014 World Dairy Situation report was published in
More informationGlobal and Regional Food Consumer Price Inflation Monitoring
Global and Regional Food Consumer Price Inflation Monitoring October 2013 Issue 2 Global Overview Consumers at global level saw food price inflation up by 6.3 percent in the twelve months to February 2013
More informationLIVESTOCK OUTLOOK. New season will see supplies increase. There is an expectation lamb numbers will be up, given the good run many have had to date.
NORTH ISLAND OCTOBER 2017 Key Points LIVESTOCK OUTLOOK BULL - OCT STEER - OCT M COW - OCT 5.65 4.30 Local Trade maintains hot pace China demand positive Strong start to new season Market awaiting new season
More informationFertilizer prices shoot higher in 2018 New offer sheets pass on higher international costs to farmers By Bryce Knorr, grain market analyst
Fertilizer prices shoot higher in 2018 New offer sheets pass on higher international costs to farmers By Bryce Knorr, grain market analyst Dealers are ringing in the New Year with updated price sheets
More informationGlobal Dairy Export Prices Weaken Oceania Mid-point $/Ton FOB
Department of Agriculture Foreign Agricultural Service December Since the start of the year (through November ) global dairy prices have diverged; butter and cheese prices posted gains while prices for
More informationCommodity Outlook: September 2017 West Central Illinois: July 2017
Commodity Outlook: September 2017 West Central Illinois: July 2017 William George Senior Agriculture Economist U.S. Department of Agriculture Foreign Agriculture Service Office of Global Analysis Commodity
More informationWorld Steel Market and Ukrainian metallurgy in 2010
2-Dec-21 Ministry of Industrial Policy of Ukraine SE UPE Co. Research & Consulting World Steel Market and Ukrainian metallurgy in 21 Vlasyuk V.S. SE UPE Co. Research & Consulting, Ukraine 69 th Session
More informationSOUTH AMERICAN SOYBEAN CROP ESTIMATE INCREASED
April 14, 2000 Ames, Iowa Econ. Info. 1787 SOUTH AMERICAN SOYBEAN CROP ESTIMATE INCREASED USDA s World Agricultural Outlook Board raised its estimate of combined Brazilian and Argentine soybean production
More informationHAY PRICES AND TRENDS IN WESTERN STATES
HAY PRICES AND TRENDS IN WESTERN STATES Seth Hoyt 1 ABSTRACT Alfalfa hay markets in Western States generally follow similar trends. NOT IN 20!! Markets in California, the leading alfalfa hay producing
More informationUS Imported Beef Market A Weekly Update
US Imported Beef Market A Weekly Update Prepared Exclusively for Meat & Livestock Australia - Sydney Volume XVII, Issue 44 November 3, 2017 Prepared by: Steiner Consulting Group SteinerConsulting.com 800-526-4612
More informationGlobal energy markets
For Woodrow Wilson Center Global Energy Forum September 21, 215 Washington, DC by Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent
More informationVeal Price Forecast. October 2015
Veal Price Forecast October 2015 VEAL PRICE FORECAST OCTOBER 2015 Veal Light Production Veal prices in 2015 have been stronger than anticipated and are expected to continue to show year-over-year increases
More informationAgribusiness Monthly March New Zealand
Agribusiness Monthly March 2018 New Zealand Food & Agribusiness Research and Advisory March 2018 Commodity Outlook Dairy Beef Sheepmeat Wool Wine Horticulture Fertiliser FX Oil Short-term rally in Oceania
More informationElectric Forward Market Report
Mar-01 Mar-02 Jun-02 Sep-02 Dec-02 Mar-03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-05 May-05 Aug-05 Nov-05 Feb-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07 Sep-07 Dec-07 Apr-08 Jun-08 Sep-08 Dec-08
More informationPOLYOLEFINS THE NEVER ENDING STORY
MARCH 2016 POLYOLEFINS THE NEVER ENDING STORY Martin Wiesweg Senior Director Polymers EMEA +49 211 97550707 Martin.Wiesweg@ihs.com Western Europe stays on a slow growth path World Economic Outlook / March
More information2017 Beef Cattle Market Outlook
2017 Beef Cattle Market Outlook Chris Prevatt Livestock and Forage Economist UF/IFAS Range Cattle Research and Education Center Presented at the 2015 UF Beef Cattle Short Course Presented at the 2015 UF
More informationBauxite & Alumina Market Update. Demian Reed Vice President Commercial Bauxite and Alumina Rio Tinto Alcan
Bauxite & Alumina Market Update Demian Reed Vice President Commercial Bauxite and Alumina Rio Tinto Alcan The outlook for the alumina market starts with metal 60.0 50.0 40.0 30.0 Global Aluminium production
More informationCOMPARATIVE ANALYSIS OF MONTHLY REPORTS ON THE OIL MARKET
COMPARATIVE ANALYSIS OF MONTHLY REPORTS ON THE OIL MARKET Summary findings from a comparison of data and forecast on the oil market by the International Energy Agency, and Organization of the Petroleum
More informationCattle Outlook. January, 2018
Cattle Outlook January, 2018 Cattle Outlook January 2018 In This Issue: Supply Fundamentals Demand Fundamentals Summary 2 Historical Price Reference Where are Cattle Prices Currently, And Where are they
More information2009 Full Year Result
2009 Full Year Result 23 February, 2010 Chief Executive Brendan Hopkins Chief Financial Officer Peter Myers Overview Result in line with guidance Strong cost outcome high operating leverage February/March
More informationWheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook
United States Department of Agriculture WHS-2008-01 May 2008 A Report from the Economic Research Service Wheat Year in Review (International): Low 2007/08 Stocks and Higher Prices Drive Outlook www.ers.usda.gov
More informationDriving Productivity Growth in the Irish Agri-Food Sector
Driving Productivity Growth in the Irish Agri-Food Sector Dr. Pat Dillon Teagasc, Moorepark Dairy Production Research Centre, Fermoy, Co Cork Overview 1. Global Food Markets 2. Irish Agri-Food Industry
More informationPrinciples from the P21 research programme into lower N input dairy systems. Mark Shepherd AgResearch, Ruakura
Principles from the P21 research programme into lower N input dairy systems Mark Shepherd AgResearch, Ruakura What the investors wanted from P21 Industry accessible, adoptable, systems-level solutions
More information3/25/2017. What to do today? Cattle & Beef Markets: Commodity Outlook
3/25/27 Cattle & Beef Markets: Commodity Outlook Stephen R. Koontz Professor & extension economist Department of Agricultural & Resource Economics Colorado State University Stephen.Koontz@ColoState.Edu
More informationSTEAM AND COKING COAL PRICES
ENERGY PRICES AND TAXES, 3rd Quarter 2004 - xi STEAM AND COKING COAL PRICES Larry Metzroth, Principal Administrator Energy Statistics Division SUMMARY This article provides analyses of customs unit values
More informationWhy global businesses need global audit networks October 2012
www.pwc.com Why global businesses need global audit networks October 2012 Introduction Leading audit networks have grown in response to the needs of the market. As companies have become more global, they
More informationCattle Market Outlook
Cattle Market Outlook Winter C. Wilson Gray District Economist Twin Falls R & E Center wgray@uidaho.edu http://web.cals.uidaho.edu/idahoagbiz/ Thank You! Topics: Markets and Aspects of Domestic Consumer
More informationTHIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report
More informationDairy Quarterly Q1 2018
March 2018 Dairy Quarterly 2018 Turn the Pressure Down RaboResearch Food & Agribusiness far.rabobank.com Lead author Michael Harvey Senior Analyst Dairy +61 (3) 99408407 Contents Global summary 2 What
More informationSALE OF 0.5 MTPA MINI BLAST FURNACE COMPLEX. (Southeast Asia)
SALE OF 0.5 MTPA MINI BLAST FURNACE COMPLEX (Southeast Asia) 1 Executive Summary valuejunction, a business unit of mjunction (A SAIL Tata Steel joint venture) is appointed by a leading steel manufacturer
More informationJason Henderson Vice President and Branch Executive Federal Reserve Bank of Kansas City Omaha Branch April 25, 2012
Jason Henderson Vice President and Branch Executive April 25, 2012 The views expressed are those of the author and do not necessarily reflect the opinions of the Federal Reserve Bank of Kansas City or
More informationDairy Quarterly Q4 2017
December 2017 Dairy Quarterly Q4 2017 Rising Tide of Milk Weighs on Sentiment RaboResearch Food & Agribusiness far.rabobank.com Contents Global summary 2 What to watch in Q1 and Q2 3 EU 4 US 5 New Zealand
More informationA Blue Chip with New Scope
8 June 2004 A Blue Chip with New Scope American Chamber of Commerce in Australia Our Bond We and our customers proudly bring inspiration, strength and colour to communities with BlueScope Steel. Our customers
More informationMID-SEASON UPDATE 0800 BEEFLAMB ( ) BY FARMERS. FOR FARMERS BEEF + LAMB NEW ZEALAND ECONOMIC SERVICE
Beef + Lamb New Zealand Economic Service P13001 Beef + Lamb New Zealand Economic Service Mid-Season Update 2012-13 1 BEEF + LAMB NEW ZEALAND ECONOMIC SERVICE MID-SEASON UPDATE 2012-13 0800 BEEFLAMB (0800
More informationp per kg dw Source: AHDB/EBLEX A M J J A S O N D
Clive Brown EBLEX p per kg dw 380 370 360 350 340 330 320 310 300 2010 2011 290 280 2012 270 260 250 J F M Source: AHDB/EBLEX A M J J A S O N D Average Weekly kill ( 000 head) 46 44 2012/11-7% 2010 2011
More informationMILK SOUTH AFRICA. Milk South Africa. South African Dairy Industry. and a profile of the
Milk South Africa and a profile of the South African Dairy Industry MILK SOUTH AFRICA Milk South Africa is entrusted by the Government to administrate statutory regulations in pursuit of its strategic
More informationFeed Grain Outlook June 2, 2014 Volume 23, Number 33
June 2, Today s Newsletter Market Situation Crop Progress 1 Corn Use 2 Outside Markets 3 Marketing Strategies Corn Marketing Plan 5 Upcoming Reports/Events 6 Market Situation Crop Progress. This afternoon
More informationGrazing Management Different Strategies. Dr Jim Russell and Joe Sellers Iowa State University
Grazing Management Different Strategies Dr Jim Russell and Joe Sellers Iowa State University Cattle are important Keeping land in grasses reduces erosion and improves water quality Productive, well managed
More informationECONOMIC BULLETIN Q2 2017
November 2017 ECONOMIC BULLETIN Q2 2017 Steady growth in production, sales and exports Food and drink industry Growth in production and sales In Q2 2017, EU food and drink industry production increased
More informationSTANDARDIZED MILK PRICE CALCULATIONS for JUNE 2009 deliveries
STANDARDIZED MILK PRICE CALCULATIONS for JUNE deliveries Company Milcobel Alois Müller Humana Milchunion eg Nordmilch Arla Foods Hämeenlinnan Osuusmeijeri Bongrain CLE (Basse Normandie) Da (Pas de Calais)
More informationCOURSE LISTING. Courses Listed. Training for Applications with Integration in SAP Business One. 27 November 2017 (07:09 GMT) Advanced
Training for Applications with Integration in SAP Business One Courses Listed Advanced TB1000 - SAP Business One - Logistics TB1100 - SAP Business One - Accounting TB1200 - SAP Business One - Implementation
More informationMissouri Dairy Grazing Conference
Missouri Dairy Grazing Conference GRAZING AROUND THE WORLD Michael Murphy Dairy Producer Dairy Producer Ireland By 2050 Estimated NEED + 60% more food than now 2009 Eti Estimated td12 16% land very under
More informationGlobal Dairy Industry: The Milky Way
Global Dairy Industry: The Milky Way Table of Contents 1. Executive Summary 2. Global Overview 2.1 Global Milk Production 2.2 Milk Production by Species Cow 2.3 Milk Production by Species - Buffalo 2.4
More informationCapesize market outlook
Capesize market outlook China Iron Ore 2016, Metal Bulletin, Beijing Cheng Shan LI, dry bulk analyst 3 March 2016 Disclaimer The material and the information (including, without limitation, any future
More informationKoeberg Nuclear Power Station. Water Resilience Strategy. Presenter: Velaphi Ntuli Date: 14 February 2018
Koeberg Nuclear Power Station Water Resilience Strategy Presenter: Velaphi Ntuli Date: 14 February 2018 Agenda Water Crisis Water Resilience Strategy Overview Koeberg Water Usage Overview Water Resilience
More informationMILK AND MILK PRODUCTS
Market summaries MILK AND MILK PRODUCTS World milk production is set to reach 833.5 million tonnes in, 1.4 percent more than in. Much of the anticipated rise is expected in Asia and the Americas, while
More information54th NZ Association of Economists Annual Conference 3-5 July 2013, Wellington, New Zealand
54th NZ Association of Economists Annual Conference 3-5 July 2013, Wellington, New Zealand An update on the recent trends in New Zealand s international freight transport Joanne Leung and Haobo Wang Ministry
More informationDevelopments on the Global Meat Markets
Developments on the Global Meat Markets Rupert Claxton 6 th January 2017 Global Overview Meat industry benefits from increased imports to China in 2016 2016-2017 global meat market characteristics Continued
More informationLivestock and Feedgrain Outlook
Livestock and Feedgrain Outlook 2017 Range Beef Cow Symposium James G. Robb Director, LMIC Website: www.lmic.info November 28-30, 2017 28 US Land Grant Universities: USDA Data Sources -- NASS, AMS, FAS,
More informationAGRI- SECTOR REVIEW 1
1 AGRI- SECTOR REVIEW FOREWORD It is my great pleasure to introduce the first edition of Rural Banks Agri-Sector Review as part of an ongoing series of information articles to our customers. The publication
More informationFinancial Results Meeting: The 1st 3 Months of FY Ending March (April 1, 2016 June 30, 2016) August 9, 2016
Financial Results Meeting: The 1st 3 Months of FY Ending March 2017 (April 1, 2016 June 30, 2016) August 9, 2016 Unification of Accounting Period Unify accounting period (financial reporting period) of
More informationANZ AGRI INFOCUS SEPTEMBER 2017 COMMODITY INSIGHTS
ANZ AGRI INFOCUS SEPTEMBER 217 COMMODITY INSIGHTS OPPORTUNITIES FOR TRADE AND DEVELOPMENT REMAIN STRONG Welcome to the first edition of ANZ Agri In Focus. The publication, which will be released every
More information