The Idaho Dairymen’s Association invited dairy producers from around the state to hear a panel of speakers discuss the industry’s current milk price situation at the Canyon Crest Event Center in Twin Falls, Idaho, October 9, 2009.
Todd Dittman, vice president of analysis and strategic insights for Dairy Management Inc., spoke about the marketing and sales of dairy products. He was the day’s first speaker and received a lot of difficult questions from the audience which showed producers’ obvious frustrations about the marketing of dairy products.
The second speaker was Peter Turk, who is a registered broker at the Chicago Mercantile Exchange. He explained the process of trading and the amount of trading that is done at the CME, as well as the market it provides.
Third to speak was Phil Plourd, an economist and president of Blimling Companies. He discussed how the dairy market upswing and consequent downswing was due to a “perfect storm” of droughts, international markets, exports and the global economy. He made projections about world growth and subsequent demands as well as some opportunities in the future.
The event was well-attended with more than 140 members of the Idaho dairy industry in attendance. Processors, co-ops, dairy producers and a few members of the media participated in the meeting. PD
