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| Wang, Dabin; Tomek, William G.. |
| Descriptive statistics and time-series econometric models are used to characterize the behavior of monthly fluid milk prices. Prices in April, May and June appear to be more variable than those in subsequent months, and the spring-time prices are perhaps skewed. Econometric models can capture the historical behavior of spot prices, but forecasts converge to the marginal distribution of the sample prices in about six months. Futures prices for Class III milk have the expected time-to-maturity effect and converge to the respective monthly distributions of the cash prices at contract maturity (as they must, since the contracts are cash settled). Thus, econometric models and futures quotes provide similar information about price behavior at contract... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Hedging; Marketing strategies; Milk futures; Milk prices; Risk management; Risk and Uncertainty. |
| Ano: 2005 |
URL: http://purl.umn.edu/19322 |
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| Franks, J.R.. |
| In 1994 Milk Marketing Boards in the UK were disbanded, their role as milk purchasers was taken by more than 100 licensed organisations. It is shown that this change resulted in an increase in the variation between producers' milk price. The majority of dairy farmers sold milk through the Milk Marketing Boards designated successor; a farmer owned co-operative called Milk Marque. In doing so they accepted a 1.5 ppl milk price penalty. It is shown farmers who adopted this strategy did so because of the perceived financial security of Milk Marque, goodwill and support for the principle of co-operative marketing and in an attempt to protect the milk price over the longer-term. The marketing environment changed once again in 2000 when Milk Marque was disbanded.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Co-operative marketing; Milk prices; Regression analysis; Logit analysis; Agribusiness; Demand and Price Analysis. |
| Ano: 2002 |
URL: http://purl.umn.edu/6969 |
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| Herndon, Cary W., Jr.; Davis, Brandon L.; Parkhurst, Gregory M.. |
| This paper assesses the impact of the milk income loss contract program on U.S. dairy producers. The Milk Income Loss Contact (MILC) program was created through the 2002 farm bill, which financially compensates dairy producers when domestic milk prices fall below a predetermined Boston Class I trigger price. MILC payments were made to eligible dairy producers/farms on a per cwt basis at a rate equal to 45 percent of the difference between the trigger price of $16.94 and the Boston Class I milk price. In the analysis, the 20 major milk-producing states were analyzed to determine if MILC payments caused a milk supply response to be different across these states. By dividing the U.S. into states, this will give a better understanding of production decisions... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Dairy markets; MILC; Milk prices; Milk supply response; Agricultural and Food Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/19438 |
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