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Era of Limited Consolidation

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Presentation on theme: "Era of Limited Consolidation"— Presentation transcript:

1

2 Era of Limited Consolidation

3 Persistent Low-Grade Misery?

4 Return to Historic Relationship

5 Not Much $18 Milk @ <$4 Corn

6 Lost Fluid Sales

7 Alternative Sales Still Growing
Alternative milk sales at ~$1.6 billon Not just beverage: big growth elsewhere in “dairy” section

8 Losing Out on Exports, Too

9 Especially High-Value Exports

10 And the US Needs to Export

11 Systemic Challenge

12 EU:+50 Billion Pounds in 10 Years

13 Herd Size US average herd size at 234 cows EU still at 33 cows
Consolidation in EU won’t be much fun for anyone

14 €41B in Direct Payments per Year

15 €41B in Direct Payments per Year
EU has a history of supporting agriculture through a variety of social and market disrupting programs Between 2015 and 2020, EU Commission plans to spend €293 billion in direct payments alone – about €41 billion per year. Direct Payment Types: Green Payments, Young Farmers Programs, Small Farmer Supports, Basic and Voluntary Payment Schemes Additionally, EU supports producers through programs like SMP and Butter Intervention and Private Storage Aid

16 US Policy to Dull Market Signals

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