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Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Dirt] #6849978
04/21/20 11:40 AM
04/21/20 11:40 AM
Joined: Dec 2006
Posts: 11,365
Rodney,Ohio
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Rodney,Ohio
Originally Posted by Dirt
Originally Posted by Boco
It will happen sooner than you think-the US dollar is now puff from all the printing of debt backed dollars driving down the dollar value of oil as can be seen by the way oil is going.It used to take 10 beaver pelts to buy a barrel of oil,now it only takes one.


"
The Bank of Canada’s vast experiment in printing money may not end well"



Even with all the QE under he previous admin, the dollar still rose relative to all of the other currencies. Not saying that's a good thing, for us it is right now. Long term we'll see, depends on our economy and military.

Last edited by SNIPERBBB; 04/21/20 11:40 AM.
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Dirt] #6850002
04/21/20 12:05 PM
04/21/20 12:05 PM
Joined: Dec 2006
Posts: 7,403
East-Central Wisconsin
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bblwi Online content
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The institutions., schools, restaurants etc. don't use a lot of milk as compared to butter, cheese and powder which is used in almost all baking etc. Also the export market is for dry milk powder not milk and as stated the industry can't change over fast enough to process what is needed now with the changed market, which is the same for meat etc. Actually they are doing pretty good when one thinks about the massive change that is needed to get product where it needs to be and in a form that they can utilize. There are other sectors of our society that are lagging way behind in getting things turned around. The big issue for dairy now is that even with processing changed the demand will remain way below typical for months be that domestic or world markets.

Bryce

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: bblwi] #6850097
04/21/20 01:17 PM
04/21/20 01:17 PM
Joined: Dec 2011
Posts: 48
E.C.Iowa
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Zookeeper Offline
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E.C.Iowa
Just for curiosity sake, can anyone tell me what the current government subsidy is per gallon of milk? Is that price dependent on supply (?), demand(?), or other factors? Just don't know what part that plays in the scheme of the market, if any. I am trying to become better informed, thanks.


Zookeeper

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850123
04/21/20 01:41 PM
04/21/20 01:41 PM
Joined: Feb 2010
Posts: 10,839
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hippie Offline
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Milk was doing good around here. Haven't read this month's report yet.

I relate it to the tp shortage.

Some were geared up to produce commercial paper and some for residential paper.
One demand is almost non-existing now and the other can't keep up.


Last edited by hippie; 04/21/20 01:43 PM.
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850134
04/21/20 01:47 PM
04/21/20 01:47 PM
Joined: Jan 2018
Posts: 737
Henry Co, IL
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Henry Co, IL
My best friend is a dairy vet. I asked him some of these questions yesterday.
Lack of school use, restaurants, cheese manufacturers, and ice cream producers has slowed the need for milk. I asked about powdered milk, he said we have way more in stock now than needed. A few of his farmers are dumping some because none of the mentioned users can take milk in the raw form (straight from the cow) so it doesn't get processed because the bigger end users aren't buying.
Milk subsidy. Explained to me years ago. Started after WW2 by two Jewish investors in NYC. Yup, still going today. My friend's opinion is in the long run the subsidy should be done away with and let milk find it's own price level. More than likely it would even out depending on demand.
So, lack of demand currently has caused milk dumping.
Boco, I suppose milk could be transported and sold to Canada, but the Canadian milk farmers would complain, like they have in the past, because it would likely lower they're profit margin..

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: 3togo] #6850153
04/21/20 02:06 PM
04/21/20 02:06 PM
Joined: Dec 2006
Posts: 7,403
East-Central Wisconsin
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Canada is our 2nd largest importer of milk today and two of the 10 largest milk processors in the US are Canadian owned. Canada only has 980,000 dairy cows nationwide and about 37 million people so they import product but still have their supply management system which is more of an Eastern Canada system then western Canada. There is no longer a milk subsidy system as was brought about post W11. That system was abandoned over a decade ago. What we do have now is a subsidized insurance system that farmers can purchase at a sliding fee depending upon how much milk and at what margin they want to cover, very similar to crop insurance. Most dairy farmers did not participate this year and the window to purchase closed right before the crash and one of the arguments is would they reopen the margin program again.
The European Union is the largest competition to the US for exporting worldwide. New Zealand and Australia are the two countries that export the highest percentage of their production and are major players in southeast asia.

Bryce

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850159
04/21/20 02:13 PM
04/21/20 02:13 PM
Joined: Mar 2007
Posts: 30,269
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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McGrath, AK


Mean As Nails
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: white17] #6850235
04/21/20 03:03 PM
04/21/20 03:03 PM
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East-Central Wisconsin
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East-Central Wisconsin
The article is from 2007 before the price protection programs were dismantled. Also it references the federal milk marketing system which is not directly a subsidy program but a program that offered processors and milk marketing companies opportunities to buy milk in the lower cost production ares WI, MN and transport to milk deficient regions like the southeast. Due to transportation changes, interstates etc. that price difference is much less and with the huge increase in the sales of manufactured dairy, mostly cheese the higher prices were in areas with lots of milk where processors could compete for milk and build cheese plants etc. California and other parts of the west were the last huge dairy areas with no federal order system and those producers have voted over the last two years to create a milk marketing order.

Bryce

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850260
04/21/20 03:31 PM
04/21/20 03:31 PM
Joined: Mar 2007
Posts: 30,269
McGrath, AK
W
white17 Offline

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McGrath, AK
Thanks Bryce.

I knew it was old but I was just looking for a starting point on the history prompted by 3togo's post


Mean As Nails
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850332
04/21/20 04:24 PM
04/21/20 04:24 PM
Joined: Dec 2006
Posts: 11,275
Sandhills Nebraska
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Gary Benson Offline
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Sandhills Nebraska
Speaking of oil, what did it do today?


I know I'm paranoid......but am I paranoid ENOUGH???
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850348
04/21/20 04:39 PM
04/21/20 04:39 PM
Joined: Dec 2006
Posts: 11,365
Rodney,Ohio
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Rodney,Ohio
May jumped back to 10 and June crashed to 12

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850355
04/21/20 04:44 PM
04/21/20 04:44 PM
Joined: May 2010
Posts: 28,978
potter co. p.a.
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so June dropped further than they thought but may came back.hmm.









Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850922
04/21/20 11:44 PM
04/21/20 11:44 PM
Joined: Mar 2010
Posts: 1,632
wyoming southeast
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danvee Offline
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wyoming southeast
Holding over the oil is like holding over coon with no demand not going to help. Trump is going to be a busy guy trying to figure out how to get things done and make America Great.

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6850957
04/22/20 12:48 AM
04/22/20 12:48 AM
Joined: Jul 2009
Posts: 606
Oregon
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Oregon
gee- think that was part of the plan?????

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6851214
04/22/20 11:54 AM
04/22/20 11:54 AM
Joined: Mar 2010
Posts: 1,632
wyoming southeast
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danvee Offline
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wyoming southeast
There is no plan just day to day rambling.

Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6851388
04/22/20 02:08 PM
04/22/20 02:08 PM
Joined: Mar 2007
Posts: 30,269
McGrath, AK
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white17 Offline

"General (Mr.Sunshine) Washington"
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McGrath, AK


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Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6851460
04/22/20 03:27 PM
04/22/20 03:27 PM
Joined: Aug 2011
Posts: 27,223
james bay frontierOnt.
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Boco Online content
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james bay frontierOnt.
White,didnt you mention a few days ago that Trumps injection of cash would be a temporary measure at best,until demand rises?-Good call.
Maybe Nafa going belly up was the canary in the coalmine.A harbinger of things to come.

Last edited by Boco; 04/22/20 03:28 PM.
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6851473
04/22/20 03:35 PM
04/22/20 03:35 PM
Joined: Mar 2007
Posts: 30,269
McGrath, AK
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white17 Offline

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McGrath, AK
I don't recall Boco. I have probably said way too many things laugh

But here is one more thing.

The oil markets are probably the closest thing there is these days to a 'free-market" . We have governments around the world forming cartels to try to support the price of oil and they can't do it. The selloff over the last year or so and especially yesterday should be all the proof that is needed that governments can't just throw money at this and expect the demand for oil to increase. It should also prove to those who believe the oil market is rigged, or that prices are controlled by "BIG OIL", are absolutely wrong.


Mean As Nails
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: white17] #6851476
04/22/20 03:38 PM
04/22/20 03:38 PM
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Posts: 27,223
james bay frontierOnt.
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Boco Online content
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james bay frontierOnt.
Originally Posted by white17
I don't recall Boco. I have probably said way too many things laugh

Naw,thats my department.

Last edited by Boco; 04/22/20 03:38 PM.
Re: YES OIL IS CRASHING !!!!!!!!!! [Re: Canvasback2] #6851486
04/22/20 03:42 PM
04/22/20 03:42 PM
Joined: May 2010
Posts: 28,978
potter co. p.a.
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pcr2 Offline
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potter co. p.a.
Hey Skipper,where's your lil buddy Gilligan today??









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