Abstract
Nebraska Consolidated Mills is my company. Our business is food. Nebraska Consolidated Mills came into existence as wheat millers, and over the years have also become manufacturers of animal feed and growers of chickens, hogs, and cattle.|All of these activities have common threads linking them into logical extensions of each other. One of these is wheat millfeeds, sometimes termed a by-product and, more recently, a co-product of wheat milling. Its principal usage is as a feed ingredient, and it is a very important one.|Millfeeds take several forms, red dog, bran, shorts, middlings, etc. They constitute 25-30% of the total amount of wheat processed on the basis of weight.|The percentage depends principally on the type of wheat and efficiency of the mill. Their value varies considerably but will average 15-20% of the total return from the wheat milled.|Feed millers utilize all of these products to a greater or lesser degree in manufacturing poultry and animal feeds of all kinds. Historically, millfeeds were probably the first commodity other than grains and forage crops in their natural state to be fed to livestock.|The purpose of this paper is to explore selected aspects of millfeed marketing to as great a depth as possible with the specific end in view of developing multiple regression and correlation relationships which might be helpful in forecasting the price of middlings at Kansas City.