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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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