Lecture notes	Reading Assignments
Introduction
Weekly Market Watch Assignment
Overview of food and fiber sector	Evolving food system Chpt 1 Food Marketing Costs
Characteristics of ag production
Demand and Supply	Demand Changes (Pages 1-10) Reference: Agricultural Product Prices, Tomek & Robinson Chpts 2 and 4.
Elasticities	Reference: Marketing of Agricultural Products, Kohls & Uhl, Chpt 8.
Consumer and Producer Surplus
Price Determination, Discovery and Reporting	Controversies in Livestock Pricing Livestock Pricing Issues
Marketing Margins	Meat Industry Price Spreads
Market Structure	Grain Industry Concentration Grocery Store Concentration
Market Coordination	Captive Supplies
Wholesale and retail	Food Wholesale Food Retail Food Service
Niche Markets	Traceability in the food supply chain Farmer owned Brands
Coops in agriculture	Collective bargaining
Futures and margin account	Terminology Futures basics
Hedging price protection	Grain Hedging Livestock hedging
Options on futures	Grain options Livestock options
Market Forecasting	USDA Ag Outlook Iowa Farm Outlook
Grain Marketing	Field Crops Wisner Grain Outlook
Livestock Marketing	Livestock, Dairy and Poultry
Cost of Production	Grains Livestock
Market Controversies	Concentration and Captive Supply
Role of Government in Agriculture	Farm Program and Land Prices Diversified v. Specialized Farms
Additional role of Government in Ag	Food Safety
Summary