single desk problems abound, page-9

re: weaknees The other great threat to the dairy industry WK is the lieklihood that the world will be awash with cheap vegetable protein and oil this year as soy plantings go through the roof and the protein waste from the global biofuel industry. Food manufacturers are increasingly substituting animal proteins with cheap vegetable proteins for a fraction of the cost. And they can texture vegetable proteins in ways where in manufactured products you have difficulty knowing the substitution has occured. I actually think the meat, dairy and egg sector are going to face even more pressure this year particularly if grain feeds rally hard. The pain will shift from the grains sector onto the animal sector. And it is exacerbated at this point in time because livestock numbers have been ramped to the hilt on the back of firesale priced feed grains.