marketing livestock and poultry. objectives describe the methods used to market livestock and...
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Marketing Livestock and Poultry
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Objectives
•Describe the methods used to market livestock and poultry
•Compare methods of marketing livestock.•Critique methods of marketing livestock.•Create a method of marketing livestock.
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Marketing•Marketing is an important aspect of any
livestock system. •Definition: producers exchange
livestock and products for cash.
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Price Determination and Discovery
•Price Determination▫is the broad forces of supply and demand
establishing a market clearing price for a commodity.
•Price Discovery▫is the process by which buyers and sellers
arrive a a specific price for a given lot of produce at a given location for a specific time period.
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Livestock Marketing Decisions
•What to sell▫Live, carcass, grid
•Where to sell▫Type of market▫Location
•When to sell▫Weight, grade, costs
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Price Discovery•A human process, subject to relative
bargaining power of the buyer and seller.•Two stage process
▫Evaluate S&D and Pe▫Estimate the price for the specific trade.
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Methods of Marketing
•Terminal Markets▫Central markets on public stockyards▫Livestock are consigned to a commission
firm to bargain with buyers for a certain fee
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Methods of Marketing
•Auction Markets▫Public bidding▫Sell to the buyer that bids the highest
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Auction Block
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Methods of Marketing
•Direct selling▫No middle person▫Producer sells straight to the buyer▫No commission or fees
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Methods of Marketing
•Electronic marketing▫auctioning on-line using computers
•Futures marketing and hedging▫legal document▫calls for the delivery in the future▫prices are locked in to a futures price
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Vertical Integration
•Definition▫Two or more steps of production,
marketing and processing are linked together usually by a contract between the producer and feed manufactures or between producers and processors including all three
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Vertical IntegrationHolly
Farms, Case,
Purdue Poultry Farmer or producer
Hatchery
Grain producer
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Vertical Integration
•About 99% of all broilers and a very high percentage of turkeys, laying hens and swine are grown and marketed through vertical integration contracts
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Which would you prefer?
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Review!
•Describe the methods used to market livestock and poultry
•Compare methods of marketing livestock.•Critique methods of marketing livestock.•Create a method of marketing livestock.
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Student Work
•Now you will research different methods of marketing
•Then you will create your own marketing plan for your livestock herd