He said the surging feed costs in 2011 are not unlike what occurred in 2008, however the industry has developed a certain level of resiliancy that didn't exist a few years ago. Paring back livestock production in response to spikes in corn prices, for example has become a more seamless, albeit not painless, process.
"The livestock industries in general have been learning how to deal with high feed prices much better," this year compared to 2008, said Brown.
To view Part 1 of Brown's presentation, click below. For information on the 2012 Purchasing Seminar, send an e-mail to:firstname.lastname@example.org.