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Dairy 101: Milk Procurement Workshop 2007
March 27-28, 2007
Westin O'Hare
Rosemont, IL
Dairy 101 IDFA's Milk Procurement Workshop is designed specifically to instruct you and your staff on the structure of the dairy industry and how dairy pricing mechanisms work. This workshop will furnish milk processors, cheese makers, frozen dessert marketers, butter manufacturers, nonfat dry milk manufacturers and others with a fundamental knowledge of all regulatory pricing mechanisms, then show how these mechanisms affect company operations in today's marketplace.
During the first part of Dairy 101, we will provide a broader understanding of the industry we work in, including what milk is, how milk is marketed and distributed, dairy product production and consumption, and the many dairy policies that control and affect these processes. The second part of the workshop is dedicated to a discussion of how milk and other dairy products are priced - both inside and outside of the Federal Order System. We will review how the different components of milk (including nonfat solids and butterfat) are priced and where those prices come from. We will also introduce participants to risk management options available to the dairy industry.
If you and your staff need to learn the nuts and bolts of the dairy industry and milk pricing, or simply need a refresher course, this workshop is for you. A detailed knowledge of our industry and the Federal Order System is vital to any dairy professional. Don't miss this once a year opportunity. Register today!
Agenda Registration Hotel Information
AGENDA
DAY ONE: Dairy 101 for Processors Tuesday, March 27, 2007 |
| 8:30 am - 9:00 am |
Registration |
| 9:00 am - 10:30 am |
Dairy Industry Overview
- Milk Component Composition
- Dairy Product Yield Relationships
- Milk & Dairy Product Production and Consumption
- Milk & Dairy Product Prices
- Dairy Industry Structure
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| 10:30 am - 12:00 pm |
Introduction to Federal Dairy Policies
- Dairy Price Supports
- Federal Milk Marketing Order Basics
- Dairy Trade Policies
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| 12:00 pm - 1:00 pm |
Group Luncheon |
| 1:00 pm - 5:00 pm |
Pricing Milk Under Federal Orders
- Product Price Formulas
- Federal Order Price Formulas
- Handler Obligations: The minimum price you must pay for milk
- Producer Pay Prices
- Pooling: Reconciling what you must pay for milk with what you must pay each shipper
- Federal Order Price Relationships
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DAY TWO: Advanced Milk Pricing & Procurement Wednesday, March 28, 2007 |
| 8:00 am - 11:00 am |
Pricing Milk Under Federal Orders (continued) |
| 11:00 am -12:00 pm |
Pricing Milk Outside of Federal Orders
- Over-Order Premiums
- State Regulated Pricing
- Unregulated Processors
- Unregulated Milk and Milk Products
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| 12:00 pm - 1:00 pm |
Group Luncheon |
| 1:00 pm -2:00 pm |
Pricing Milk Outside of Federal Orders (continued) |
| 2:00 pm - 4:00 pm |
Introduction to Dairy Risk Management Concepts
- Forward Contracting: Inside and Outside of Federal Orders
- Dairy Futures and Options
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| 4:00 pm - 4:30 pm |
Milk Pricing Wrap-Up: Policy & Politics |
HOW TO REGISTER
You have four easy options for registering! The conference is only $895 for members and $1,095 for nonmembers.
You can:
- Register online
- Email the registration form to registrar@idfa.org
- Fax the registration form to (202) 331-7820
- Mail the registration form and check to IDFA, 1250 H St, NW, Ste. 900, Washington, DC 20005.
HOTEL AND TRAVEL INFORMATION
Hotel Reservations
Call the Westin O'Hare at 888-627-8517 to reserve a room today. Refer to the 2007 Dairy 101: Milk Procurement Workshop and receive a special $169 single/double room rate. The deadline to secure a room is March 5, 2007. We have secured a large block of rooms, but once all the rooms have been reserved, we cannot guarantee that additional space will be available. Check-in time is 3:00 pm, and check-out time is noon.
If you have any questions, call Lauren Ledermann, IDFA's registrar, at 202-220-3557.
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