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Dairy Accounting and Finance Workshop 2017

    

Schedule is subject to change.

Agenda


Day 1
Tuesday, December 12

7:00 a.m. Registration and Continental Breakfast
8:00 a.m.

The U.S. Dairy Industry Today: Headlines and Trends 

  • •  Dairy in the news
  • •  Trends in farm milk production, dairy processing and manufacturing, milk and dairy product consumption, imports and exports, and prices at the farm, wholesale, retail and international levels 
10:00 a.m. Networking Break
10:30 a.m.

Introduction to Dairy Product Pricing

  • •  How is the government involved in milk pricing?
  • •  Basic milk costing (the 9 C's)
  • •  Paying dairy farmers and cooperatives for milk 
Noon Lunch
1:00 p.m.

Applying Dairy Product Pricing to Products

  • •  Milk pricing and the finished product
  • •  Dairy cost accounting for other products
  • •  Flavored milk cost accounting 
  • •  Costing fluid milk with added solids
  • •  Dairy math
3:00 p.m. Networking Break
3:30 p.m.

Topics for the Dairy Controller and CFO, Part I

  • •  Developing cost centers
  • •  Financial statements and reports
  • •  Budgeting 
  • •  Shrinkage and milk loss
5:00 p.m. Adjourn
5:30 p.m. Reception


Day 2
Wednesday, December 13

7:30 a.m. Registration and Continental Breakfast
8:00 a.m.

Topics for the Dairy Controller and CFO, Part II

  • •  Financing dairy processing plants
  • •  Cost benchmarks (fluid)
  • •  Cost benchmarks (cheese, butter and NFDM)
  • •  Cost segregation
  • •  Customer contracts
  • •  Fraud in the dairy industry
10:00 a.m. Networking Break
10:30 a.m.

Pricing Outside of Federal Milk Marketing Orders

  • •  State milk price regulation
  • •  Over-order premiums
  • •  Pricing outside federal/state regulation
  • •  Cooperative
  • •  Organic milk pricing
Noon  Lunch
1:00 p.m.

Introduction to Dairy Price Risk Management

  • •  Forward contracting: with and without milk price regulations
  • •  Dairy futures and options
2:30 p.m. Information Sources for the Dairy Professional
3:00 p.m. Networking Break
3:30 p.m.

Advanced Milk Accounting Topics

  • •  Ultrafiltration 
  • •  Buying and selling bulk cream
  • •  Estimating future Class II butterfat costs
  • •  Product line analysis 
  • •  Tips and techniques for federal and state milk reports 
  • •  Where are milk prices headed in 2018?
5:00 p.m. Adjourn