Retail
Market Channel type.
A marketing channel that sells dairy products directly to the consumer for personal or household consumption.
Skim Milk Powder (SMP)
1. An international market term often used interchangeably for NDM.
2. A term used in the United States for a dry product made from a blend of condensed skim and another condensed dairy product(s) generally for export sales. This product does not meet USDA standards for NDM.
Solids-Not-Fat (SNF)
The solids in milk other than milkfat. Also known as nonfat solids.
Source Verified
Term used to describe cattle that qualify for a Process Verified Program (PVP) or Quality System Assessment.
Southern Cone
The region composed of Argentina, Chile, Uruguay, Paraguay, and the southeastern region of Brazil.
Spot Prices
The first sale, f.o.b. the producing plant, of product that has no regular or committed outlet and is sold on the open market for immediate delivery or delivery within a few days.
Supply/Offering
The quantity of a particular item available for current sale. See terms heavy, moderate, and light for those definitions.
Tambo
A farm level dairy operation in some Latin American countries.
Thin Fleshed
Typical thin feeder cattle are angular in appearance. Their rib bones and the hooks and pins in the pelvic region are plainly visible. There is also a definite ridge formed by the dorsal processes in the short loin region. Various regions of the body such as the round, loin, rib cage, shoulder, etc.
Toggle
A setting that can be switched between two different options by performing a single action. For instance, being able to switch the location of your phone from on to off.
