全球著名的消费品研究机构UWEXTENSION的2005最新奶制品市场研究报告.ppt

Dairy Price Risk ManagementMilk Market Outlook Monthly Basis Outlook Information Milk Production Report Issued by NASS (USDA’s National Agricultural Statistics Service) mid-month covering previous month Milk cow numbers, Milk per cow, and total milk production Monthly data for 20 selected states representing about 85 % of U.S. milk production Quarterly data for all states NASS Milk Production Report: January ‘05 Milk Cows and Milk per Cow Outlook Information (Cont.) Dairy Product Production Monthly factory production of all major dairy products, U.S. and major states Published by NASS around the first of the month for second preceding month Dairy Product Prices Weekly prices and weights used to calculate all Federal Order Class prices Covers Butter, Block and Barrel Cheddar Cheese, Nonfat Dry Milk, and Dry Whey Issued by NASS Friday am; covers week ending the previous Saturday US Production of Major Manufactured Dairy Products, Jan-Dec 2004 v. Year Earlier Chicago Mercantile Exchange (CME) Cash or Spot Markets Grade A butter (MWF) Block and barrel cheddar cheese (M-F) Grade A and extra-grade nonfat dry milk (M-F) Auction markets – bids and offers with sale when a bid is filled or an offer is accepted Reported price changes with a sale, an unfilled bid, or an uncovered offer Thin markets: sales represent only a small fraction of production Reference markets: prices for off-market contractual sales tied to CME prices Outlook Information (Cont.) Commercial Disappearance Imputed consumption – includes “pipeline” stocks as well as sales Published quarterly by USDA’s Economic Research Service Retail Dairy Prices Prices and price indices for major dairy products; national and regional Published monthly by Bureau of Labor Statistics (BLS) Change in Commercial Disappearance, Jan-Oct ‘04 v. Year Earlier Sources of Outlook Information Hard Copies: Dairy Market News Includes up-to-date information on all important outlook indicators Issued weekly on Friday. $50 annual s