Sunday, December 12, 2010
(click on image to enlarge)
The above graph tells a couple stories. First, butter exports are doing nothing to boost U.S. dairy farm milk prices.
"USDEC is funded primarily by the dairy promotion check-off program. It also receives export activity support from the U.S. Department of Agriculture's Foreign Agricultural Service (FAS). Membership dues fund the trade policy and lobbying activities of the Council."
Secondly, you will note Hoogwegt is a member of USDEC and is the main player on the CME driving down butter prices.
So who is watching the store?