Table of Contents Introduction This factsheet summarizes the full agricultural contribution report of Dr. Steven Deller, Community Economic Development Specialist within the UW-Madison, Division of Extension. The report focuses on agricultural sectors highlighting their contributions to employment, industrial revenues, and environmental impacts. Key Contributions of Agriculture to the Wisconsin Economy (2022) Category Industrial Revenue (Billion […]
Table of Contents Introduction This fact sheet summarizes the key findings from the report analyzing the contribution of the dairy industry to Wisconsin’s economy using census data from 2022. It covers economic contributions, employment trends, historical shifts, and regional impacts. Key Economic Contributions (2022) Metric Value % of State Total Industrial Revenues $52.84 billion 6.5% […]
The ‘European Green Deal’ (EGD) is a comprehensive and some say ambitious policy initiative launched by the European Commission. Its overarching goal is to make Europe the first climate-neutral continent by 2050, promoting a sustainable and inclusive economy.
This article summarizes key concepts of the currently proposed changes to Federal Milk Marketing Orders (FMMOs) as industry stakeholders seek to modernize pricing structures to better align with current production costs and consumer demand.
The dairy industry is currently navigating a complex set of fluctuating domestic demand signals, with week-to-week shifts ranging from “steady” to “strong” to “so-so.”
Table of Contents Introduction This article examines the role of Federal Milk Marketing Orders (FMMOs) in protecting farmers and introduces the idea of potential unintended consequences that could arise if these orders were voted out. FMMOs are rules and regulations administered by the United States Department of Agriculture (USDA) that establish provisions dairy processors/handlers must […]
The Federal Milk Marketing Order system plays a critical role in promoting orderly marketing conditions within the U.S. dairy industry. A key feature of this system is the producer approval process, or referendum, which allows dairy producers to vote on changes or amendments to FMMOs.
In August and September 2024, global feed prices experienced a downward trend, driven by improved production conditions and enhanced market competitiveness. This report details the recent changes in feed prices, explores their underlying causes, and provides forecasts based on the discussion at the 2024 IFCN Dairy Researchers Meeting.
Prices have remained stable and are expected to continue this trend into the fall and the rest of the year. Butter prices, along with slightly constrained milk supplies, have contributed to supporting farm-level prices. Although demand remains steady but unremarkable both domestically and internationally, it continues to absorb market supply. However, any decline in demand or increase in milk supply could exert downward pressure on prices as we move into the early part of 2025.
Numerous supply constraints and varying demand factors currently shape the industry. Milk production, feed prices, geopolitical developments, and environmental conditions are the major factors influencing milk prices during the first quarter of 2024.
Increased efficiency at the farm level has muted the milk supply response as traditionally measured by cow numbers. We have seen milk supplies slowly tighten through the first half of 2024 and might be seeing signs of tightening supplies at the processor level.
The U.S. dairy market is potentially at a turning point, marked by reduced culling, stable cheese inventories, and rising butter stocks. Improved milk prices and strong export performance offer some optimism.
Crop Insurance is a federal government instituted and managed entity, so there are more rules and added opportunities beyond the basics. In this article, we are going to introduce more of these opportunities within the policies we have reviewed, introduce other policy types available for other crops, and showcase some of the more important crop […]
Crop Insurance is a risk management tool available to farms through which they may insure their farm’s production in a given year. If you don’t have any production, what do you have to market? In reality, not much, if anything. Farms are able to utilize grain marketing tools because of the opportunities presented to them […]
The first decision point within a crop insurance selection process is about primary policy type. Once you have selected the policy type, there are still some important decisions to make. The most important of these other decisions are the Coverage Level and Unit Structure which you want to utilize. Both will significantly impact your risk […]
Four policy types are available for most crops. There are 2 pairs of options within the policy decision. There are exceptions for regionally minor crops. Yield vs Revenue Protection Yield Protection crop insurance policies protect against low yields. Period. Revenue Protection crop insurance policies protect against reduced revenue, whether brought about by lower yields, lower […]
Crop Insurance is quite the commodity. It combines insurance (lawyers, accountants, and mathematicians) with government. If that doesn’t sound scary, you’re probably in the minority. That fact aside, crop insurance in the U.S. has actually been designed to help farms cost-effectively manage their production risk. In the process of doing so, crop insurance policies can […]
When working on your farm, it’s important to have the right tool and knowledge for the job at hand. There are a variety of tools available for the job of implementing your grain marketing plan. These tools will provide you with a variety of ways to interact with the cash and futures market. This graphic […]
