Dairy Summit 2011Is Hosted By

Thank you for attending...Thank you for attending Dairy Summit 2011! We are glad you invested your valuable time to attend this event. Our intent for the meeting is to deliver a program that is focused on the economics of the dairy industry. We also want this event to be a fun experience that you and your family can enjoy. We are looking forward to the next few days and hope you are too.

During this meeting, attendees will learn key information to help them in their everyday business. The meeting will help provide a global perspective while informing you of the trends happening in dairy production. We will also be openly discussing the dairy industry to understand each other’s challenges and successes. This event is going to be interactive and beneficial. Thanks for attending and welcome to the Dairy Summit 2011.

Event Location:The Arrabelle at Vail Square675 Lionshed PlaceVail, CO 81657Phone: 970.754.7777

Dairy Summit 2011

Welcome

Agenda 2011 Agenda

Thursday, October 13th Reception / Room: Great Room at the Arrabelle- 4:00-7:30pm

Friday, October 14th Breakfast / Room: Cortina Ballroom at the Arrabelle- 7:00-8:00am

Dairy Summit 2011 Meeting / Room: Cortina Ballroom at the Arrabelle- 8:30am / Introduction to Dairy Summit 2011/ Steve Martin and Dr. Francisco San Emeterio - Speaker #1 / John Geuss •UnderstandingWhatImpactsthePriceofMilk- Break- Speaker #2 / Robert Chesler •RiskManagementinTroubledEconomicTimes- Speaker #3 / Dr. Chris Ashworth •UpdateonAnimalRightsinAmericanAgriculture

Lunch / Room: Great Room and Terrace at the Arrabelle- 12:00-1:30 pm

Dairy Summit 2011 Meeting / Room: Cortina Ballroom at the Arrabelle- Speaker #4 / Dr. Frank Garry •AdultCowDeathLoss:Aproblem...- Break- Speaker #5 / Dr. Greg Bethard •ManagingVolatilityinFeedandMilkPrices- DNMC Update & Closing / Steve Martin & Dr. Francisco San Emeterio

Dinner / Room: The International Ballroom at The Lodge at Vail- 6:00pm

Agenda

Agenda

Saturday, October 15th Breakfast / Room: Great Room at the Arrabelle- 6:30-10:00am - Activities: (pleasemeetinthelobby15minutespriortopickuptime)

Nova Guides• Jeep Tour Enjoy views of high alpine meadows, wildflowers, Colorado’s famous 14,000 foot peaks and a chance to see wildlife. During the tour, the guides can offer some great history of the area along the way and don’t forget to bring your camera on this one. With photo opportunities of ghost towns, old mining claims, the biggest peaks in Colorado, and wildlife ranging from prairie dogs to moose and all sizes in between you don’t want to miss these sights. Meet in the Lobby at the Arrabelle {9:00am Pick Up, 12:00pm Drop Off }

• Hiking Experience Vail’s landscape with a hike that is customized to the needs of the individual participants, your interests and with ability levels in mind. Trailwise has access to over 100 trails in the area that provide scenic vistas, running water, and a variety of off-the-beaten path destinations. They provide a safe environment, work with altitude acclimation and provide extra gear in the event the weather changes. Meet in the Lobby at the Arrabelle {9:00am Pick Up, 1:00pm Drop Off }

Gore Creek Fly Fisherman• Wade Fly Fishing Wade trips are the perfect opportunity for those wishing to brush up on, or learn, new fly fishing techniques. Wade fishing is particularly popular thanks to accessibility to major rivers in the Vail Valley and delicate, secluded streams hidden deep in the national forest. Excellent wade fishing can be had year-round. Gore Creek Fly Fisherman offers access to the Eagle River, Gore Creek, Colorado River, Piney River, Cross Creek, Homestake Creek and the Yampa River. All gear included with a fishing license. Meet in the Lobby at the Arrabelle {8:30am Pick Up, 2:00pm Drop Off}

• Spa DayCredit of $100 to spend on your choice of relaxing adventure at the spa. *Please see Kim Emig during the reception to reserve your spot at the spa if you have not done so already.

Dinner / Entertainment: Meet in the Lobby at the Arrabelle *If your not staying at the Arrabelle, head over to: BōI / 141 East Meadow Drive / Suite 113 / Vail, CO 81657 - 5:40pm

Dinner / BōI- 6:00-8:00pm

Bowling- 8:00-10:00pm

BōI offers ten custom white lanes and nothing short of a great time. Once you are at the BōI, relax on their oversized couches while you bowl in Vail, CO and enjoy dinner from their delicious menu. This is one of the most unique, amazing and luxurious bowling & dining experiences in the Vail Valley...if not the world.

John Geuss, Adisseo’s Director of Marketing and Business Development for North and Central America., is the originator of the website milkpay.com and author of the blog Milkprice.blogspot.com. He has an Engineering degree and an MBA from The Ohio State University. His work experience includes 12 years as a Vice President of Borden’s, CEO and part owner of a canned pet food business, and various consulting assignments before joining Adisseo 13 years ago. His home is in Atlanta, Georgia where Adisseo’s North and Central America’s headquarters are located.

Understanding What Impacts the Price of MilkOverview: Dairy prices in the U.S. are largely governed by the Federal Milk Marketing Orders and the state of California milk payment system. The formulas that determine the price of milk will be examined to understand the most important variables. Consumption trends will be analyzed to help predict the future needs of the U.S. dairy business. Because dairy is now a global business, the world’s major dairy markets will be examined to see which countries are the biggest competitors. Imports and exports of dairy products will also be analyzed in some detail including an analysis of exchange rates. Economic examples of various scenarios will be quantified using milkpay.com.

Robert A. Chesler is Vice President and head of the INTL-FCStone Food Service Division. He has served as an account executive, broker, and market analyst with Downes-O’Neill, which became part of the Food Service Division of FCStone Group. With degrees in political science and psychology, he has expert insight into the emerging global economy, government actions and investor psychology. Robert actively follows anticipated government legislation which can have drastic effects on commodities, particularly milk prices. His knowledge of psychology allows Robert to understand the psyche of active speculators and more accurately anticipate position dominated market moves. Risk Management in Troubled Economic TimesOverview: Robert will review and evaluate the market to see what it should have done, what it might do and what we could do about it. He will then review how dairies should build a risk management plan to stay focused on hedging a margin, even when a margin isn’t readily visible.

John GeussDirectorofMarketingandBusinessDevelopmentAdisseojohn.geuss@adisseo.com

Robert Chesler VicePresidentFCStone, LLCrobert.chesler@fcstone.com

Speakers

Dr. Chris Ashworth was born in Russellville, Arkansas and raised in Charleston. He attended Louisiana State University Baton Rouge majoring in Dairy Science. He attended and graduated from Louisiana State University School of Veterinary Medicine in 1987. He then completed a Large Animal Medicine and Surgery internship at the U. of Illinois at Urbana-Champaign. He then completed a three year residency in Food Animal Medicine and Surgery.

Dr. Ashworth is a Dairy Technical Consultant for ELANCO ANIMAL HEALTH. He is responsible for working with dairies in Oklahoma, Texas, New Mexico, Kansas and Colorado and lives in Fort Smith, Arkansas. Dr. Ashworth is the owner of New Frontier Angus Ranches based in Fort Smith, Arkansas. This is a high technology purebred registered Black Angus seed stock genetics operation using artificial insemination, sexed semen, embryo transfer and in vitro fertilization, all in an animal welfare friendly environment. Today Dr. Ashworth has cattle operations in Arkansas, Oklahoma and Texas. Update on Animal Rights in American AgricultureOverview: Dr. Ashworth will discuss current ongoing legislation and initiatives by the animal rights movement and comment on potential animal welfare concerns in the modern dairy farms of the United States. Issues he will discuss will consist of: dehorning, castrating, branding, lameness, colostrum management, heat stress management and long haul transportation.

Dr. Franklyn Garry grew up on a dairy farm in Upstate New York. He received his B.S. and DVM from Cornell University, and MS from The Ohio State University. He worked in a dairy practice in upstateNew York, and then worked for advanced clinical training at the Maximillian University, Munich, Germany and at The Ohio State University. He is a specialist in the American College of Veterinary Internal Medicine. He is currently a Professor at Colorado State University, where he has been in the Department of Clinical Sciences since 1987. Since 1996, he has been the coordinator of the Integrated Livestock Management program at CSU. This is a multidisciplinary graduate studies program that focuses research and training efforts at problems in livestock agriculture.

Adult Cow Death Loss: A problem...Overview: On farm mortalities represent a problem both in terms of financial losses and compromised animal welfare. Current information from computerized dairy record systems suggests that mortality rates have continually increased over the last 10 years. This would seem to be an issue requiring substantial attention, but at present it does not appear that veterinarians or producers have the information required to manage the problem appropriately. This presentation will discuss issues that surround mortalities and methods to collect and use information for herd management.

Dr. Chris D. Ashworth DVM DairyTechnicalConsultantELANCO Dairy Business Unitc.ashworth@lilly.com

Dr. Franklyn GarryProfessor,DepartmentofClinicalSciencesColorado State Universityfranklyn.garry@colostate.edu

Speakers

Greg Bethard received his BS, MS, and Ph.D. degrees from Virginia Tech in dairy nutrition and management. Following graduate school, he worked on the faculty at New Mexico State University and then as a technical services specialist for Monsanto Dairy Business. Since 2000, Greg has operated G&R Dairy Consulting, Inc. in Wytheville, VA with his wife Rachel. G&R Dairy Consulting, Inc. has served clients throughout the United States, Europe, and Mexico, focusing on nutrition, facilities, management, business planning, and financial and records-analysis services. In 2009, Greg joined Dairy Records Management Systems in Raleigh, NC, focusing on improving records analysis software. Greg has published articles in the Journal of Dairy Science and written articles for various dairy industry magazines. He has also given presentations to dairy producers and allied industry throughout the United States, Mexico, and Italy.

Managing Volatility in Feed and Milk PricesOverview: Extreme volatility in milk and feed prices is the new norm. In the dairy industry, we need to evaluate the volatility and find a way to manage the ever changing markets. We will look at businesses and management strategies that best position a dairy to prosper with volatile markets, by evaluating the strategies that are associated with financial success.

Ride the Free Intown Bus to your location or ask the hotel clerk for more information.

Explore Town: Cozy, without cars, the awesome mountain deployed in front as you walk leisurely down the cobble-stone streets, the town of vail runs the gamut from elegant shopping, to quick cafe’ latte’s, fine dining and more!

Dr. Greg L. Bethard, Ph.D.ConsultantG&R Dairy Consulting greg.bethard@ncsu.edu

Speakers

Looking to experience downtown Vail?

DNMC and DBINT would like to thank their sponsors of Dairy Summit 2011! You make this meeting possible with your help.

Platinum Sponsors: • Trouw Nutrition USA, LLC.

• Nutrition Physiology Co, LLC.

Gold Sponsors: • Calibrate Technologies

• Pfizer Animal Health

Silver Sponsors: • Land O Lakes - Purina

• Alltech• Diamond V

• Arm & Hammer Animal Nutrition• Adisseo

• Intl FCStone• Integrated Dairy Herd Improvement

• AHI• Akey

• Biozyme Incorporated• Novus

• Elanco Animal Health• Pro*Cal

• Lane Resources Limited, Inc.