The Losses From BSE in Canada
|
|
- Penelope Lamb
- 7 years ago
- Views:
Transcription
1 The Losses From BSE in Canada Danny G. LeRoy Kurt Klein Tatiana Klvacek February 11, 26 Toronto, Ontario
2 Overview 1. Brief history of BSE in Canada. 2. Characterization of losses from May 2, 23 to May 2, Summary
3 BSE In Canada 1 Date 12/8/93 5/2/3 12/23/3 1/2/5 1/11/5 1/23/6 Where Red Deer, AB Wanham,, AB Yakima, WA Barrhead,, AB Innisfail,, AB North Central AB Details Purebred beef cow imported from UK Angus, born, fed and raised in Canada Holstein, born, fed and raised in Canada, shipped to the US Holstein, born, fed and raised in Canada Charolais,, born, fed and raised in Canada Holstein cross, born, fed and raised in Canada.
4 BSE In Canada 2 Percentage 45% 4% 35% 3% 25% 2% 15% 1% 5% % 5% 4% 3% % 4% 5% 8% 4% 17% 17% 18% 23% 31% 32% 34% 32% 33% 38% 41% Year 17% % Beef and veal exports as % of production 22: live cattle exports as % of inventory ~ 12.5%
5 BSE In Canada 3 Border closures May 2, 23 created a problematic situation: Foreign consumers were denied access to beef and cattle produced in Canada. Lines of production geared toward satisfying foreign consumers became uneconomic.
6 Losses 1 Losses of $11 million a day because of the beef bans and the resulting collapse in domestic prices Dorosh,, 23; St. Germain,, 23 Between May 23, and November 24, farm cash receipts for cattle plunged by $5 billion from what they otherwise would have been Tim O Neill, O chief economist of the Bank of Montreal, 24 Losses of $7 Billion CBEF, 26
7 Losses 2 What are the losses, really??
8 Losses 3 Consequences of border closures: Increased costs Clear loss where resources had to be withdrawn from more productive uses. Redistribution of production and consumption activities Losses are not as easily quantifiable. Effects manifested within and beyond the beef marketing chain.
9 Increased costs: Losses 4 Processors must now follow specialized procedures Segregation (age) dentition Head separation Removal of brain, nerve ganglia, eyes, tonsils etc. Carcass splitting Handling of knives Packaging and labeling Handling and disposing of SRMs. Cost estimated by AB Auditor General to be $25 to $35 per head.
10 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs ) Number of Head $45M 1.5M $12M 4M $75M 1.9M $24M
11 Increased costs: Losses 5 Designing, implementing and transferring BSE assistance to industry stakeholders. i.e., What additional costs were incurred? Other: Legal fees Monitoring and enforcement costs etc. Total not known, but not insignificant.
12 Taxpayer Transfers Federal Transfers March 22, 24: $68 million September 1, 24: $488 million March 29, 25: $321 million Federal-Provincial Transfers To June 18, 24: $46 million Provincial Transfers ALBERTA ONLY PROGRAMS To June 24, 24: : $258 million OTHER PROVINCIAL PROGRAMS - $$$ millions TOTAL more than $2 BILLION
13 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs (C$.2/$1 transferred) $4M $4M
14 Losses 6 Effects of redistribution: In markets for cattle, beef and byproducts Exports, imports, domestic disappearance Within the domestic beef marketing channel Producers, processors, distributors, wholesalers, retailers. Across commodity markets hogs/pork, poultry From taxpayers to beef industry stakeholders
15 Live Animal Trade No live cattle exports between May 23 and July 25
16 Live Animal Exports - 1 HS:12 RETURNS ( ( $) Month Nov Jan $128,151 $135,932 Feb $165,285 $122,796 Mar $162,418 $139,668 Apr $164,856 $136,72 May $123,711 $55,865 Jun $114,83 Jul $116,78 $16,549 Aug $162,637 $87,44 Sep $183,229 $126,447 Oct $186,622 $15,195 Nov $186,698 $135,41 Dec $133,397 TOTAL $1,828,614 $59,99 $ $516,33
17 Live Animal Exports- 2 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TOTAL 22 Average Returns, $ per Head $1, $1, $1,2.13 $1,223.7 $1, $1, $1,3.45 $1,57.11 $ $948.9 $1,15.49 $1,19.89 $1, $1,15.62 $1,16.72 $1, $1, $1, $. $. $. $. $. $. $. $1, $. $. $. $. $. $. $. $. $. $. $. $. $. 25-Nov $. $. $. $. $. $. $1,57.88 $1,93.45 $1,85.8 $1, $1, $1,113.97
18 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs $4M $4M Reduced Exports Live Animals Number of head $1,21M (1.1M) $1,65M (1.5M) $1,21 (1.1M) $4,7M
19 Total Beef & Veal Exports - 1 Beef and veal exports from May 2 to Sept 1, 23 Then returned to previous levels
20 Total Beef & Veal Exports - 2 HS:Various RETURNS (' $) Month Nov Jan $172,755 $199,894 $142,17 $141,39 Feb $179,839 $184,684 $154,912 $152,111 Mar $199,3 $195,617 $171,799 $189,24 Apr $185,34 $181,757 $177,35 $21,56 May $188,547 $115,729 $157,471 $185,384 Jun $28,91 $56 $171,145 $184,482 Jul $181,794 $868 $161,221 $142,416 Aug $23,795 $741 $157,933 $139,577 Sep $176,786 $78,364 $15,38 $146,241 Oct $183,44 $168,971 $171,579 $112,877 Nov $178,677 $178,444 $16,674 $119,985 Dec $162,85 $156,863 $145,9 TOTAL $2,22,927 $1,462,44 $1,921,662 $1,714,758
21 Total Beef and Veal Exports - 3 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 22 $4.36 $4.6 $4.57 $4.5 $4.22 $4.8 $3.93 $4.1 $4.8 $4.13 $4.38 $4.32 $4.26 Average Returns in $/kg 23 $4.52 $4.48 $4.35 $4.35 $4.11 $3.17 $1.93 $1.6 $5.63 $4.83 $4.69 $4.32 $ $4.23 $4.2 $4.22 $4.52 $4.88 $4.17 $4.41 $4.31 $4.6 $4.4 $3.85 $3.95 $ Nov $4.22 $4.38 $4.32 $4.36 $4.2 $4.7 $3.86 $3.5 $3.65 $3.78 $4.4 $4.4
22 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs $4M $4M Reduced Exports Live Animals $1,21M $1,65M $1,21M $4,7M Beef $54M (12M kg) $54M
23 Byproducts By product earnings have not returned to 22 levels EXCEPT embryos.
24 Bovine Edible Offal, F/C 6,, 5,, 4,, 3,, 2,, 1,, Nov RETURNS (C$) Nov QUANTITY (kgs) Average Returns C$/kg Nov $6.3 $7.7 $5.84 $5.78
25 Bovine Tongues, Frozen 18,, 16,, 14,, 12,, 1,, 8,, 6,, 4,, 2,, Nov RETURNS (C$) Nov QUANTITY (kgs) 22 $5.4 Average Returns C$/kg $4.87 $ Nov $2.3
26 Bovine Livers, Frozen 12,, 1,, 8,, 6,, 4,, 2,, Nov RETURNS (C$) Nov QUANTITY (kgs) 22 Average Returns C$/kg Nov $.9 $.89 $.65 $.59
27 Bovine Offal, Frozen 8,, 7,, 6,, 5,, 4,, 3,, 2,, 1,, Nov RETURNS (C$) Nov QUANTITY (kgs) Average Returns C$/kg Nov $2.37 $2.13 $1.62 $1.89
28 Guts, Bladders, Stomachs ,, 2,, 15,, 1,, 5,, Nov RETURNS (C$) Nov QUANTITY (kgs) 22 $2.6 Average Returns C$/kg $2.3 $ Nov $1.47
29 Embryos 14, 12, 1, 8, 6, 4, 2, Nov RETURNS ( C$) Nov QUANTITY (Number) 22 $329.2 Average Returns C$/unit Nov $ $ $552.5
30 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs $4M $4M Reduced Exports Live Animals $1,21M $1,65M $1,21M $4,7M Beef $54M $54M Byproducts $49M $84M $35M $168M
31 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs $4M $4M Reduced Exports Live Animals $1,21M $1,65M $1,21M $4,7M Beef Byproducts $54M $49M $84M $35M $54M $168M TOTAL $4,932M
32 Losses from BSE $5B overstates the loss. Live animals, beef and byproducts marketed to domestic consumers instead of foreign consumers. Imports. Redistributive effects (not included in our analysis, but very important).
33 Losses From BSE May- Dec Jan-May 25 TOTAL Extra processing costs $45M $12M $75M $24M Redistribution Costs $4M $4M Reduced Exports Live Animals $1,21M $1,65M $1,21M $4,7M Beef Byproducts $54M $49M $84M $35M $54M $168M Reduced Imports Live Animals ($44M) ($76M) ($32M) ($152M) Beef Byproducts ($81M) ($5M) ($492M) ($28M) ($188M) ($1M) ($761M) ($43M) TOTAL $3,976M
34 Live Animal Imports HS:12 COSTS (C$) Nov TOTAL $79,895,926 $36,797,416 $3,166,891 $5,256,629
35 Live Animals Annual prices fell below pre-bse levels and well below the exceptionally strong pre-bse levels.
36 Alberta Slaughter Prices, C$/cwt Alberta Slaughter Prices, C$/cwt $2.76 $26.61 $17.48 $23.89 $8.11 $ $4.85 $45.84 $29.44 $37.4 $85.35 $ $7.67 $59.8 $5.88 $57.4 $99.58 $ $75.3 $66.2 $56.42 $63.99 $12.29 $ $69.29 $63.37 $53.83 $6.47 $95.9 $95. 2 $64.29 $58.38 $48.21 $55.26 $9.34 $ $61.7 $53.29 $45.45 $5.91 $84.17 $ $56.84 $53.1 $44.11 $5.48 $83.85 $ $48.58 $44.54 $38.17 $44.92 $78.67 $ $59.46 $55.68 $45.9 $51.26 $84.71 $ $73.48 $65.95 $54.23 $6.31 $87.12 $ Bulls Bulls Feeder Feeder Cows Cows D3 D3 Cows Cows D1/D2 D1/D2 Cows Cows Slaugher Slaugher Heifers Heifers Slaughter Slaughter Steers Steers Year Year
37 Beef and Veal Imports HS:12 COSTS ( $) Nov TOTAL $787,737 $76,236 $295,868 $337,621
38 Offal Imports HS:12 COSTS ( $) Nov TOTAL $99,249 $89,988 $72,13 $74,894
39 Domestic Marketing Channel Lower returns to primary producers Fed Cattle Feeder Cattle Cull cattle Larger packer margins Gross profit: C$79/hd (pre-bse) C$216/hd (post Sept 1, 23) Final consumers High quality beef little or no change Low quality and ground beef lower prices in some areas for short periods.
40 Cross Market Effects Hogs/pork Poultry
41 Effect On The Hog Market Higher beef prices in the US raised the demand for pork. Increased demand in the US was met largely by hog and pork exports from Canada. from 2, - 25, hd/week to 4, hd/week/ In 23, 7.3 million head exported (yr-to to-yr : 33%) in exports e to the US also a result of lower beef prices in Canada.
42 Effect On The Poultry Market No perceptible impact Canadian production 1.2%; avian influenza Consumption up slightly; Per capita consumption ½ kg higher in 24.
43 Summary - 1 Losses of $4B likely an upper bound. Processing costs Redistribution costs Exports ; ; imports also
44 Summary - 2 Redistribution of consumption and income are important, but beyond the scope of this study. Observations: Prices to final consumers steady Large margins for packers Lower prices for cattle producers Fed, Feeder cattle temporary. Cull cattle on-going. Beneficial effects for domestic hog producers.
By Anne Wasko Gateway Livestock, Market Analyst
@AnneDunford By Anne Wasko Gateway Livestock, Market Analyst June 2014 J/98 J/99 J/00 J/01 J/02 J/03 J/04 J/05 J/06 J/07 J/08 J/09 J/10 J/11 J/12 J/13 J/14 US $/cwt $160 US Fed Steer Price $140 $120 $100
More informationAT&T Global Network Client for Windows Product Support Matrix January 29, 2015
AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network
More informationU.S. Beef and Cattle Imports and Exports: Data Issues and Impacts on Cattle Prices
U.S. Beef and Cattle Imports and Exports: Data Issues and Impacts on Cattle Prices Gary W. Brester, Associate Professor Montana State University Bozeman and John M. Marsh, Professor Montana State University
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationCOMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*
COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun
More informationUS Imported Beef Market A Weekly Update
US Imported Beef Market A Weekly Update Prepared Exclusively for Meat & Livestock Australia - Sydney Volume XVI, Issue 24 June 29, 2016 Prepared by: Steiner Consulting Group SteinerConsulting.com 800-526-4612
More informationAnalysis One Code Desc. Transaction Amount. Fiscal Period
Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00
More informationCase 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8
Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007
More informationReview of the situation on the EU Beef and Veal Market. "Single CMO" Management Committee 19th January 2012
Review of the situation on the EU Beef and Veal Market "Single CMO" Management Committee 19th January 212 Evolution EU production HEADS EU 15 EU 25 EU 27 + 15 % + 15 % Jan-Oct 11/1 EU 1 EU 2-2,9% -2,7%
More informationEnhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017
From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days
More informationNATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE
NATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE Ukrainian agricultural products competitiveness on European market in time of financial challenges Sergey Grygoryev Contents: Part 1. Trade
More informationFUTURES TRADING OF LIVE BEEF CATTLE (HEDGING) by Clarence C. Bowen
ESM 481 FUTURES TRADING OF LIVE BEEF CATTLE (HEDGING) by Clarence C. Bowen Cooperative Extension Service Department of Agricultural Economics & Rural Sociology The Ohio State University September, 1972
More informationConsumer ID Theft Total Costs
Billions Consumer and Business Identity Theft Statistics Business identity (ID) theft is a growing crime and is a growing concern for state filing offices. Similar to consumer ID theft, after initially
More information2012 Japan Broiler Market Situation Update and 2013 Outlook
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Required Report - public distribution Date: GAIN Report
More informationAgricultural Commodity Marketing: Futures, Options, Insurance
Agricultural Commodity Marketing: Futures, Options, Insurance By: Dillon M. Feuz Utah State University Funding and Support Provided by: On-Line Workshop Outline A series of 12 lectures with slides Accompanying
More informationCoffee year 2014/15 ends with prices at 20-month low
Coffee year 2014/15 ends with prices at 20-month low The coffee market slumped further in September, following a slight rally in August, with the weakness of the real and peso again proving the most influential
More informationMeasuring Beef Demand
Measuring Beef Demand James Mintert, Ph.D. Professor & Extension State Leader Department of Agricultural Economics Kansas State University www.agmanager.info/livestock/marketing jmintert@ksu.edu A Picture
More informationAshley Institute of Training Schedule of VET Tuition Fees 2015
Ashley Institute of Training Schedule of VET Fees Year of Study Group ID:DECE15G1 Total Course Fees $ 12,000 29-Aug- 17-Oct- 50 14-Sep- 0.167 blended various $2,000 CHC02 Best practice 24-Oct- 12-Dec-
More informationECONOMIC IMPACTS OF LIVESTOCK PRODUCTION IN CANADA A REGIONAL MULTIPLIER ANALYSIS
ECONOMIC IMPACTS OF LIVESTOCK PRODUCTION IN CANADA A REGIONAL MULTIPLIER ANALYSIS SUREN KULSHRESHTHA With the Assistance of OTENG MONDONGO ALLAN FLORIZONE Report Prepared For Canfax Research Services Canadian
More informationCENTERPOINT ENERGY TEXARKANA SERVICE AREA GAS SUPPLY RATE (GSR) JULY 2015. Small Commercial Service (SCS-1) GSR
JULY 2015 Area (RS-1) GSR GSR (LCS-1) Texarkana Incorporated July-15 $0.50690/Ccf $0.45450/Ccf $0.00000/Ccf $2.85090/MMBtu $17.52070/MMBtu Texarkana Unincorporated July-15 $0.56370/Ccf $0.26110/Ccf $1.66900/Ccf
More informationAGRICULTURE CREDIT CORPORATION CASH WHEN YOU NEED IT MOST
AGRICULTURE CREDIT CORPORATION CASH WHEN YOU NEED IT MOST OVERVIEW 1) Observations on Farm Debt in Canada 2) Overview of the APP and Changes 3) Overview of the Commodity Loan Program (CLP) 90000000 Total
More informationCAFIS REPORT 2015.10
CAFIS REPORT 2015.10 INDEX Message CAFIS Inbound 03-06 07-08 CAFIS Arch 09-10 CAFIS Brain 11-12 CAFIS Global 13-14 What We Do 15-16 About CAFIS 17-18 Services for Member Stores 19-34 Services for Card
More informationTHIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S.
THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary - Public Date: 1/29/2013 GAIN Report Number:
More informationInvestor Presentation February 25, 2004
Investor Presentation February 25, 2004 Some of the statements in this presentation may constitute forward-looking information and future results could differ materially from what is included. Please refer
More informationCONSULTATION DELIVERING LIFETIME ASSURED BEEF
CONSULTATION DELIVERING LIFETIME ASSURED BEEF January 2015 (Responses by Friday 27 th March 2015) 1 1 INTRODUCTION EXECUTIVE SUMMARY Cattle are currently considered assured under the Red Tractor scheme
More informationFixed Income 2015 Update. Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research
Fixed Income 2015 Update Kathy Jones, Senior Vice President Chief Fixed Income Strategist, Schwab Center for Financial Research 1 Fed: Slow and Low 2015 Fixed Income Outlook 2 Yield Curve Flattening 3
More informationEthanol Usage Projections & Corn Balance Sheet (mil. bu.)
Ethanol Usage Projections & Corn Balance Sheet (mil. bu.) Updated 12/21/215 Historic Est. Prelim. Proj. 216-17 Year: (production/marketing) 1/ 211-12 212-13 213-14 214-15 215-16 Low Med. 4 High Yield (bu.
More informationA basic paycheque will show gross pay, deductions and net pay:
Accounting (HOSP 1860) Learning Centre Payroll Accounting Understanding payroll will help you as an or an. It explains all the deductions that are removed from your paycheque, where the numbers on your
More informationMexican Beef and Cattle Production and Trade: Current Situation and Implications for Coming Years
Mexican Beef and Cattle Production and Trade: Current Situation and Implications for Coming Years Derrell S. Peel Breedlove Professor of Agribusiness Oklahoma State University Evolution of U.S.-Mexican
More informationCommodity Futures and Options
Understanding Commodity Futures and Options for Producers of Livestock and Livestock Products CIS 1100 The Authors Larry D. Makus, C. Wilson Gray and Neil R. Rimbey* Introduction Risk associated with an
More informationA Look at Dairy Market Price Volatility and Options for Dairy Policy Reform
A Look at Dairy Market Price Volatility and Options for Dairy Policy Reform by Bob Yonkers, Ph.D. IDFA Vice President and Chief Economist May 25, 2011 Executive Summary This paper considers the growth
More informationUsing Futures Markets to Manage Price Risk for Feeder Cattle (AEC 2013-01) February 2013
Using Futures Markets to Manage Price Risk for Feeder Cattle (AEC 2013-01) February 2013 Kenny Burdine 1 Introduction: Price volatility in feeder cattle markets has greatly increased since 2007. While
More information2015-16 BCOE Payroll Calendar. Monday Tuesday Wednesday Thursday Friday Jun 29 30 Jul 1 2 3. Full Force Calc
July 2015 CM Period 1501075 July 2015 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 August 2015 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
More informationNATIONAL CREDIT UNION SHARE INSURANCE FUND
NATIONAL CREDIT UNION SHARE INSURANCE FUND PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW Balance Sheet Other - Insurance and Guarantee Program
More informationEastern Africa, bordering the Indian Ocean between Kenya and Mozambique
THE COUNTRY IN BRIEF COUNTRY: LOCATION: HUMAN POPULATION: Tanzania Eastern Africa, bordering the Indian Ocean between Kenya and Mozambique 50 Million PER CAPITA INCOME: USD 912 LIVESTOCK CONTRIBUTION TO
More informationSmall Business Lending *
Reserve Small Business Bank of Lending Australia Bulletin Small Business Lending * These notes were prepared in response to a request from the House of Representatives Standing Committee on Financial Institutions
More informationRequirements for Operators of Abattoirs, Rendering Plants and Dead Stock Collection Centres
Canadian Food Inspection Agency Agence canadienne d inspection des aliments Requirements for Operators of Abattoirs, Rendering Plants and Dead Stock Collection Centres Livestock Identification and Traceability
More informationExample of a diesel fuel hedge using recent historical prices
Example of a diesel fuel hedge using recent historical prices Firm A expects to consume 5,, litres of diesel fuel over the next 12 months. Fuel represents a large expense for the firm, and volatile prices
More informationThe Central Role of Energy Efficiency in the Energy Outlook and EIA s Energy Data Program
The Central Role of Energy Efficiency in the Energy Outlook and EIA s Energy Data Program For MIT Energy Initiative Symposium May 12, 2014 Cambridge, MA By Howard Gruenspecht, Deputy Administrator U.S.
More informationHorse Meat Production in Canada
Horse Meat Production in Canada How can Canadian consumers be sure that the meat they are buying is exactly what is stated on the package (i.e. if it is labelled beef, then it only contains beef, not horse
More informationProposed amendment to Part XV of the Health of Animals Regulations. July 2012. Presentation during comment period
Proposed amendment to Part XV of the Health of Animals Regulations July 2012 Presentation during comment period 2011 Her Majesty the Queen in Right of Canada (Canadian Food Inspection Agency), all rights
More informationReview of Canadian Apple Market & Trends
Review of Canadian Apple Market & Trends 215 Mid-Summer Meeting- Canadian Apple Industry Wolfville, NS August 4 th, 215 Farid Makki Sector Development & Analysis Directorate Agriculture and Agri-Food Canada
More informationGhana's Economic Performance 2010
GHANA STATISTICAL SERVICE (GSS) Statistics for Development and Progress Ghana's Economic Performance 21 i n f i g u r e s P.O. Box GP 198, Accra www. statsghana.gov.gh 211 Ghana's Economic Performance
More informationStart Your. Business Business Plan
Start Your Waste Recycling Business A TECHNICAL STEP-BY-STEP-GUIDE OF HOW TO START A COMMUNITY-BASED WASTE RECYCLING BUSINESS Start Your Waste Recycling Business Business Plan INTERNATIONAL LABOUR OFFICE
More informationDepartment of Public Welfare (DPW)
Department of Public Welfare (DPW) Office of Income Maintenance Electronic Benefits Transfer Card Risk Management Report Out-of-State Residency Review FISCAL YEAR 2012-2013 June 2013 (March, April and
More informationP/T 2B: 2 nd Half of Term (8 weeks) Start: 24-AUG-2015 End: 18-OCT-2015 Start: 19-OCT-2015 End: 13-DEC-2015
2015-2016 SPECIAL TERM ACADEMIC CALENDAR For Scranton Education Online (SEOL), Masters of Business Administration Online, Masters of Accountancy Online, Health Administration Online, Health Informatics
More informationReplacement Heifers Costs and Return Calculation Decision Aids
Replacement Heifers Costs and Return Calculation Decision Aids The purpose of these replacement heifer cost decision aids is to calculate total production costs and return on investment (ROI) to evaluate
More informationThe Changing Relationship Between the Price of Crude Oil and the Price At the Pump
In 2007, what goes up, does not necessarily come down... May 3, 2007 The Changing Relationship Between the Price of Crude Oil and the Price At the Pump Prepared by: Tim Hamilton Petroleum Industry Consultant
More informationCash flow lesson suggestions & activities - CIMA
Cash flow lesson suggestions & activities - CIMA Learning outcomes Students should... Understand the structure of a cash flow forecast (AO1) and evaluate cash flow forecasts as decision making tools (AO3/4)
More informationMEDIA STATEMENT - FOR RELEASE ON 01 APRIL 2016 RELEASED BY CEF (SOC) LTD ON BEHALF OF THE DEPARTMENT OF ENERGY ENQUIRIES: MR J MOKOBANE 082 766 3674
MEDIA STATEMENT - FOR RELEASE ON 01 APRIL 2016 RELEASED BY CEF (SOC) LTD ON BEHALF OF THE DEPARTMENT OF ENERGY ENQUIRIES: MR J MOKOBANE 082 766 3674 1. PRICE CHANGES TO BE EFFECTED ON WEDNESDAY 6 APRIL
More informationOpportunities and Challenges in Global Pork and Beef Markets
Opportunities and Challenges in Global Pork and Beef Markets Derrell S. Peel Breedlove Professor of Agribusiness Department of Agricultural Economics Oklahoma State University Growing Global Demand for
More informationImpacts of Government Jobs in Lake County Oregon
Impacts of Government Jobs in Lake County Oregon April 2011 Prepared by Betty Riley, Executive Director South Central Oregon Economic Development District Annual Average Pay Based on Oregon Labor Market
More information7. Foreign Investments in India
93 Foreign Investments in India ISMR 7. Foreign Investments in India Introduction From 1992, Foreign Institutional Investors (FIIs) have been allowed to invest in all securities traded on the primary and
More informationCOMMODITY PRODUCTS. 2008 Moore Research Report. Seasonals Charts Strategies PORK
COMMODITY PRODUCTS 2008 Moore Research Report Seasonals Charts Strategies PORK Welcome to the 2008 Moore Historical PORK Report This comprehensive report provides historical daily charts, cash and basis
More informationEstimated Crush Margins for Hog Producers, 2006-2015 Lee Schulz 1 Iowa State University
Estimated Crush Margins for Hog Producers, 2006-2015 Lee Schulz 1 Iowa State University Buying weaned pigs, corn, and soybean meal and selling hogs at discrete times throughout the year exposes wean to
More informationYou may use a calculator to do all of the calculations. Round all decimals to the nearest hundredth if necessary.
Economics 102 Fall 2015 Answers to Homework #3 Due Monday, October 26, 2015 Directions: The homework will be collected in a box before the large lecture. Please place your name, TA name and section number
More informationTOFAŞ 2009 Q1ANALYST PRESENTATION
TOFAŞ 2009 Q1ANALYST PRESENTATION Agenda 2009 Q1 Performance Highlights Market Outlook Domestic Market & Tofaş Domestic Sales Market Share Exports Performance Sales Capacity Utilization Financial Results
More informationStrawberry Industry Overview and Outlook. Feng Wu Research Associate Gulf Coast Research and Education Center University of Florida fengwu@ufl.
Strawberry Industry Overview and Outlook Feng Wu Research Associate Gulf Coast Research and Education Center University of Florida fengwu@ufl.edu Zhengfei Guan Assistant Professor Gulf Coast Research and
More informationWelcome! First Steps to Achieving Effective Inventory Management
Welcome! First Steps to Achieving Effective Inventory Management Tuesday, January 25, 2011 10 a.m. 11 a.m. EST Housekeeping Items This meeting will run for approximately one hour. Submit all questions
More informationINCIDENT REPORT Smithfield Beef Group Souderton, INC., Establishment 1311 Export of Ineligible Beef to Japan Report
INCIDENT REPORT Smithfield Beef Group Souderton, INC., Establishment 1311 Export of Ineligible Beef to Japan Report EXECUTIVE SUMMARY August 13, 2008 Shipments from Smithfield Beef Group (Souderton), Establishment
More informationOil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016
Oil & Gas Market Outlook 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Challenging Market Environment Concerns that global economic growth will slow and reduce global oil and natural
More informationComputing & Telecommunications Services Monthly Report March 2015
March 215 Monthly Report Computing & Telecommunications Services Monthly Report March 215 CaTS Help Desk (937) 775-4827 1-888-775-4827 25 Library Annex helpdesk@wright.edu www.wright.edu/cats/ Last Modified
More informationSpecial GREYSTONE COLLEGE Prices for Turkish Students
CANADA VANCOUVER, TORONTO Special GREYSTONE COLLEGE Prices for Turkish Students Promotion is valid for registrations received before December 31st, 2015 Start dates must be before March 31, 2016 PROGRAMS
More informationIR Best Practice & the Tools Needed to Achieve it
IR Best Practice & the Tools Needed to Achieve it Belgrade March 2011 Andrew Crockett Senior Specialist Corporate Services Thomson Reuters INTRODUCING THOMSON REUTERS We provide intelligent information
More informationNMI at 59.1% Business Activity Index at 63% New Orders Index at 62% Employment Index at 59.2%
FOR RELEASE: 10:00 A.M. ET November 4, 2015 Contact: Kristina Cahill Report On Business Analyst ISM, ROB/Research Tempe, Arizona 800/888-6276, Ext. 3015 E-mail: kcahill@instituteforsupplymanagement.org
More informationGrain Stocks Estimates: Can Anything Explain the Market Surprises of Recent Years? Scott H. Irwin
Grain Stocks Estimates: Can Anything Explain the Market Surprises of Recent Years? Scott H. Irwin http://nationalhogfarmer.com/weekly-preview/1004-corn-controversies-hog-market http://online.wsj.com/news/articles/sb10001424052970203752604576641561657796544
More information1. 2015 Gross Borrowing Requirements and Funding Plan
1 1. 2015 Gross Borrowing Requirements and Funding Plan 1.1 Gross Borrowing requirements The Treasury expects its 2015 gross borrowing requirements to amount to EUR 39.90 billion. This represents an increase
More informationIT S ALL ABOUT THE CUSTOMER FORECASTING 101
IT S ALL ABOUT THE CUSTOMER FORECASTING 101 Ed White CPIM, CIRM, CSCP, CPF, LSSBB Chief Value Officer Jade Trillium Consulting April 01, 2015 Biography Ed White CPIM CIRM CSCP CPF LSSBB is the founder
More informationCanadian Agriculture and Agri-Food Outlook for 2014
Canadian Agriculture and Agri-Food Outlook for 2014 Kevin Grier, Senior Market Analyst, George Morris Centre R. Allan Mussell, Ph.D., Senior Research Associate, George Morris Centre December 2013 Introduction
More informationAnnual Treasury And Investment Portfolio Update for 2015
Item No.: 7d_Supp Meeting Date: March 8, 2016 Annual Treasury And Investment Portfolio Update for 2015 Commission Briefing Presented by Diane Campbell March 8, 2016 Treasury Management Update Background
More informationEnergy Savings from Business Energy Feedback
Energy Savings from Business Energy Feedback Behavior, Energy, and Climate Change Conference 2015 October 21, 2015 Jim Stewart, Ph.D. INTRODUCTION 2 Study Background Xcel Energy runs the Business Energy
More informationThird Quarter 2015 Marketing Overview. Alan H. Shaw Executive Vice President and Chief Marketing Officer
Third Quarter 2015 Marketing Overview Alan H. Shaw Executive Vice President and Chief Marketing Officer 1 Adapting to our Changing Environment Current Conditions Fuel Surcharges Commodity Prices and Strength
More informationRole and Impact of Renewed Canada-US Trade in Dairy Heifers and Dairy Breeding Stock
Role and Impact of Renewed Canada-US Trade in Dairy Heifers Al Mussell and Graeme Hedley Don Ault and David Bullock February, 2006 EXECUTIVE SUMMARY The purpose of this study was to determine economic
More informationFOCUS Newsletter. fpcc-cpac.gc.ca COUNCIL BUSINESS IN THIS ISSUE SEPTEMBER 2013 FARM PRODUCTS COUNCIL OF CANADA
FOCUS Newsletter SEPTEMBER 2013 IN THIS ISSUE Council Business Council Activities Regulatory News Government News COUNCIL BUSINESS Industry News LEVY COMMITTEE MEETING OF MAY 24 Upcoming Events Canadian
More informationThird Quarter 2014 Earnings Conference Call. 13 August 2014
Third Quarter 2014 Earnings Conference Call 13 August 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationPROJECTS SCHEDULING AND COST CONTROLS
Professional Development Day September 27th, 2014 PROJECTS SCHEDULING AND COST CONTROLS Why do we need to Control Time and Cost? Plans are nothing; Planning is everything. Dwight D. Eisenhower Back to
More informationDisclaimer: Forward Looking Statements
Disclaimer: Forward Looking Statements This presentation/announcement may contain forward looking statements with projections regarding, among other things, the Company s strategy, revenues, earnings,
More informationProposal to Reduce Opening Hours at the Revenues & Benefits Coventry Call Centre
Proposal to Reduce Opening Hours at the Revenues & Benefits Coventry Call Centre Proposal To change the opening hours of the Revenues & Benefits Call Centre to 9am until 5pm Monday to Friday with effect
More informationIndependent Accountants Report on Applying Agreed-Upon Procedures
Independent Accountants Report on Applying Agreed-Upon Procedures Board of Trustees We have performed the procedures, as discussed below, with respect to the employer contributions remitted by to the in
More informationBOARD OF REGENTS AUDIT/COMPLIANCE AND INVESTMENT COMMITTEE 2 STATE OF IOWA FEBRUARY 3-4, 2010 INTERNAL AUDIT REPORTS ISSUED
STATE OF IOWA FEBRUARY 3-4, 2010 Contact: Todd Stewart INTERNAL AUDIT REPORTS ISSUED Action Requested: Receive the original and follow-up internal audit reports. Executive Summary: Completed institutional
More informationMCDONALD S SUSTAINABLE BEEF PILOT Information Sharing Initiative Report April 7, 2016
MCDONALD S SUSTAINABLE BEEF PILOT Information Sharing Initiative Report April 7, 2016 TABLE OF CONTENTS 02 04 INTRODUCTION KEY TAKEAWAYS 06 RESULTS 15 CONCLUSION 17 APPENDIX MCDONALD S SUSTAINABLE BEEF
More informationChoosing a Cell Phone Plan-Verizon
Choosing a Cell Phone Plan-Verizon Investigating Linear Equations I n 2008, Verizon offered the following cell phone plans to consumers. (Source: www.verizon.com) Verizon: Nationwide Basic Monthly Anytime
More informationANNUAL 911 REPORT. P.O Box 9634 Station T Ottawa, Ontario K1G 6h5 Ottawapolice.ca
ANNUAL 911 REPORT 2011 P.O Box 9634 Station T Ottawa, Ontario K1G 6h5 Ottawapolice.ca Annual 911 Report A R E P O R T O N T H E Y E A R L Y A C T I V I T Y O F T H E O T T A W A 9 1 1 B U R E A U 2011
More informationYEARLY ANALYSIS SHEET - CASH RECEIPTS 20
YEARLY ANALYSIS SHEET - CASH RECEIPTS 20 Name: (Unit/District/Division/Region/Support Group/District Management Team) Month 5 6 7 8 9 10 11 12 13 14 15 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL
More informationBeef Cattle Breeds and Biological Types Scott P. Greiner, Extension Animal Scientist, Virginia Tech
publication 400-803 Beef Cattle Breeds and Biological Types Scott P. Greiner, Extension Animal Scientist, Virginia Tech Worldwide there are more than 250 breeds of beef cattle. Over 60 of these breeds
More informationManaging Cattle Price Risk With Futures and Options Contracts
Managing Cattle Price Risk with Futures and Options Contracts Dr. John Lawrence, Extension Livestock Economist and Associate Professor, Iowa State University Department of Economics Alexander H. Smith,
More informationDetailed guidance for employers
April 2015 3 Detailed guidance for employers Appendix A: Pay reference periods This document accompanies: Detailed guidance no. 3 Assessing the workforce Pay reference period calendars where the definition
More informationAccounting for a Merchandising Business
Chapter 11 Accounting for a Merchandising Business ANSWERS TO SECTION 11.1 REVIEW QUESTIONS (text p. 428) The Merchandising Business 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 1. 2. 3. 4. 14. 15. Copyright
More informationExchange Rate Impacts on the Canadian Beef Industry
Exchange Rate Impacts on the Canadian Beef Industry For the National Beef Industry Development Fund By Kurt Klein, Professor of Economics, University of Lethbridge, Lethbridge, Alberta (403) 329-2438 klein@uleth.ca
More informationJuly 22, 2010 Page 1 of 5
Page 1 of 5 On November 30, 2009, the Commodity Futures Trading Commission (CFTC) approved Variable Storage Rates (VSR) in CBOT Wheat futures contracts beginning with the July 2010 contract expiration.
More informationPOPULATION 1 ANEBY KOMMUN
POPULATION Population change - Population by age 7 7 + Age Share Population december st Population change after Age shares Year Population Net Net births migration W M Tot W M Tot W M Tot - 7 7 7 7 - -
More informationNASDAQ DUBAI TRADING AND SETTLEMENT CALENDAR 2015. 1. On US Federal Reserve Holidays, no settlements will take place for USD.
NASDAQ Dubai Circular No. : 65/14 Date of Issue : December 22 nd 2014 Date of Expiry : Upon issue of replacement Circular NASDAQ DUBAI TRADING AND SETTLEMENT CALENDAR 2015 Issued pursuant to the NASDAQ
More informationDHL Express in China Overview and China Customs regulations. November, 2012
DHL Express in China Overview and China Customs regulations November, 2012 Content Page Country & Macro-Economics Overview DP-DHL Overview Custom Clearance Order 33 & 43 Import Regulations Export Regulations
More informationDRAFT. Accounting for a Merchandising Business. SECTION 10.1 REVIEW QUESTIONS (page 401) 1. 5. 6. 7. 8. 10. 11. 12. 13. 14. 15. 16. 17.
CHAPTER 10 Accounting for a Merchandising Business SECTION 10.1 REVIEW QUESTIONS (page 401) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 324 Accounting 1 Student Workbook Copyright 2013 Pearson
More informationHow To Run A Blade Farming Scheme
FARM E RMA RS T INFO SERIEION S blade-farming.com INTRODUCTION to Blade Farming The Blade Farming business was established in 2001 as an integrated supply chain which is dedicated to supplying consistently
More informationRAJESH EXPORTS LIMITED GLOBAL PRESENCE IN GOLD AND GOLD PRODUCTS. Earnings Presentation Q2 FY16
RAJESH EXPORTS LIMITED GLOBAL PRESENCE IN GOLD AND GOLD PRODUCTS Earnings Presentation Q2 FY16 Company Overview COMPANY OVERVIEW Rajesh Exports Ltd. (REL) was incorporated in 1989. Currently REL is a leader
More informationNeed to know finance
Need to know finance You can t hide from it Every decision has financial implications Estimating sales and cost of sales (aka direct costs) Gross Profit and Gross Profit Margin (GPM) Sales cost of sales
More informationFinancial Statement Consolidation
Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the
More informationSample. Alberta Company. Your electricity bill. Bill date March 18, 2012. Your use this month. Your use this year. Important. You owe 121.
Page 1 of 4 Customer Service 780 123 4567 Toll-free 1-800 123 4567 Emergency 780 123 3333 Website www.company.ca Your electricity bill Bill date March 18, 2012 You owe 121.18 Pay by March 28, 2012 Your
More informationP/T 2B: 2 nd Half of Term (8 weeks) Start: 25-AUG-2014 End: 19-OCT-2014 Start: 20-OCT-2014 End: 14-DEC-2014
2014-2015 SPECIAL TERM ACADEMIC CALENDAR FOR SCRANTON EDUCATION ONLINE (SEOL), MBA ONLINE, HUMAN RESOURCES ONLINE, NURSE ANESTHESIA and ERP PROGRAMS SPECIAL FALL 2014 TERM Key: P/T = Part of Term P/T Description
More information