Wednesday, August 11, 2010
Taken for a Ride
(click on image to enlarge)
Pretty exciting - all those exports in June 2010.
Take NFDM/SMP up 78% from June 2009. One might think that would help dairy farmers. But, that is dubious or just plain unbelievable.
Notice in the table above how the prices crash in the last week of June. The export price was $1.22 per pound. Notice how both the California and the NASS data is virtually identical - .99 statistical correlation.
The export volume was 79,870,453 pounds. That is more than California produced at a low price. Looks like it all left port in the last week.