Penn State Ag Sciences Newsline -- July 28, 2009
Pennsylvania dairy farmers try to hang on for higher milk prices (:49)
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Suggested Intro:
WHILE GOVERNOR RENDELL'S BID FOR DEBT RELIEF FOR PENNSYLVANIA DAIRY FARMERS COULD HELP THEM RIDE OUT THE CURRENT MILK PRICE DOWNTURN, AN ECONOMIST IN PENN STATE'S COLLEGE OF AGRICULTURAL SCIENCES SAYS BETTER PRICES COULD BE IN SIGHT. MORE FROM GARY ABDULLAH:
Story:
(:17) RENDELL JOINED SEVEN OTHER NORTHEASTERN GOVERNORS TO SEEK DEBT RELIEF FROM THE U-S-D-A IN RESPONSE TO HIGH PRODUCTION COSTS AND LOW MILK PRICES. PENN STATE AGRICULTURAL ECONOMIST JIM DUNN SAYS, WHILE THE RELIEF WOULD BE SHORT-TERM, IT COULD HELP KEEP STRUGGLING DAIRY PRODUCERS IN BUSINESS UNTIL PRICES REBOUND:
Dunn Actuality:
(:15) "THE FUTURES MARKET SUGGESTS THAT PRICES WILL START TO GO UP IN ANOTHER MONTH OR TWO, BE SIGNIFICANTLY HIGHER BY THE END OF THE YEAR AND HIGHER YET IN THE EARLY PART OF NEXT YEAR. THAT WOULD SUGGEST THAT BY THE FIRST OF THE YEAR, PEOPLE WOULD BE ON A BREAK-EVEN BASIS, AT LEAST."(:17) DUNN SAYS THE CURRENT WEAK PRICES ARE A RESULT OF AMERICAN OVERPRODUCTION, AS THE NATION'S DAIRY PRODUCERS EXPANDED TO FILL INTERNATIONAL DEMAND. YOU CAN GET HIS MONTHLY DAIRY MARKET REPORT ONLINE AT DAIRY OUTLOOK DOT A-E-R-S DOT P-S-U DOT E-D-U. FROM PENN STATE, I'M GARY ABDULLAH.
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