July Issue

Dairy outlook still not bright
The futures market for Class III milk for in the future. While I hope that this time pounds of milk. That index rose to more things farmers must buy were lower
the remainder of 2009 has fallen by more prices will really rise in a couple months, than $10 per cwt. in the second half of 2007 then. This is especially true of fuel,”
than $1 per cwt. since May. Nevertheless, this pattern is not encouraging. and then declined steadily in 2008. Since Dunn said. “These low margins continue
the market still expects higher prices by the The combination of low milk prices and February, the index has been in the $4.50 to hurt dairy producers badly. The
end of the year. However, each month the continued high corn and soybean meal per cow range. expected higher prices later this year will
month when the higher prices will occur prices has kept producer margins very low. “This is the lowest value we have help some, but even these will be well
seems to move another month into the Penn State’s index of Income Over Feed seen in the nine years of data we have, below the 2008 levels.”
future, said Jim Dunn, Penn State Costs (IOFC) reflects gross income less feed and the most comparable period in 2003 Dunn forecasts the all milk price to rise
University dairy economist. costs for an average cow producing 65 was better because the cost of the other from $13.51 in June to $16.40 by December.
One reason is that the expected
decrease in cow numbers is delayed.
From March to April, cow numbers did-
n’t fall at all, despite the low prices,
Dunn said.
“It looks like we will have a low milk
price through July, with it rising after
that, based on the futures market,” he
said. “I would repeat that higher milk
prices have seemed to be two months
away for a few months, but as time pass-
es the higher prices are still two months
ohio equine task
Force provides indus-
try recommendations
The Ohio Equine Task Force recently
submitted recommendations that were cre-
ated with the intention of strengthening
and promoting Ohio’s equine industry.
Created by Ohio Agriculture Director
Robert Boggs in response to the critical
state of Ohio’s equine industry, the task
force, composed of 13 members who rep-
resent all facets of the industry, held its
first meeting in November 2008. The
group is chaired by State Veterinarian
Tony Forshey and continues to meet to
discuss ideas and strategy implementa-
tion options focused on improving and
enhancing Ohio’s horse industry.
“This industry is facing many chal-
lenges, but the recommendations set forth
by the task force address these obstacles
and offer viable solutions,” Boggs said.
“This will need to be a joint effort among
state government, legislators and the
equine industry, but I am hopeful that we
can begin the process of rebuilding this
crucial industry and increase community
interest and awareness.”
Ohio’s equine industry contributes a
total economic impact valued at approxi-
mately $2.2 billion in goods and services
and is made up of more than 307,000 hors-
es. More than 16,000 Ohioans are
employed by the sector.
Recommendations made by the task
force include:
• Use the Ohio Equine Industry
Coalition as a unified voice for the equine
industry in Ohio.
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Ohio’s Country Journal • July 2009 • Livestock 29

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