The trade data came out yesterday. Altogether, the U.S. exported 4% more dairy product Jan - September 2010 than the same period in 2008.
The most recent "Commercial Disappearance" numbers only cover through August. Close enough. January through August of 2008 the milk equivalent was 127,432
(x 1 million) pounds. In 2010 it was 129,627 (x 1 million) pounds.
The average "all milk" price for January through September 2008 was $18.83 and for January through September 2010 it was $15.52 per hundredweight.
It really does not add up.
"In the case where it is a form of theft, distinguishing between embezzlement and larceny can be tricky." Wikipedia
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Weak USD resulting in an exchange rate that means Europe can export at lower USD levels and maintain their domestic return to farmer in Euro's. Why is USD weak? Wall street larceny then bail out resulting in ballooning US debt...
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