With two decades of experience in the protein business, I have seen the same lesson offered repeatedly; when supply exceeds demand, there are many losers and few winners. Economics should be prominent in the curriculum of poultry science students, because the principal lessons of economics are ignored by key management groups.

The next major innovation in animal agriculture worldwide will be in the nutrition area. It won’t be one big event, but rather a series of innovations that combined add up to significant performance, improvement and cost reduction.

Just last month, I attended the Center of Excellence conference of protein and feed manufacturers in Barcelona, Spain, where I spoke to the group about brand building in the United States.

The current commodity markets are bad for everyone. Our economic climate is tenuous. Consumers are struggling to make ends meet and current fuel prices are forcing them to manage what they spend on food. American consumers play an integral part in any recovery because their spending accounts for about 70% of the nation’s economic activity.