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| Nicholson, Charles F.; Resosudarmo, Budy P.; Wackernagel, Rick. |
| A two-equation random coefficients model and two estimates of milk prices in the absence of the Northeast Interstate Dairy Compact (Compact) are used to estimate the impact of minimum price regulation for fluid milk products on milk production in the New England states. Estimated responses to price enhancement differed by state for cow numbers, but parameters for milk per cow were not significantly different among states. The amount of increase in milk production attributed to the Compact is estimated at 45 million pounds (about 1% of production) during the first year of minimum price regulation, primarily due to increased milk per cow. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2001 |
URL: http://purl.umn.edu/31610 |
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| Wackernagel, Rick. |
| The Northeast Interstate Dairy Compact has been established to regulate milk prices. Simulation models show impacts on Vermont farms of alternative milk prices and accelerated productivity growth. Enhancing prices (by $0.85/cwt) improves financial performance the most, while impacts of doubling growth in milk production/cow (to 2.6% per year) and setting a price floor (which reduces the standard deviation of the price by 19% and raises prices $0.12/cwt) are substantially smaller. These impacts are inversely related to farm profitability. However, impacts on larger farms are not proportionately larger than those on smaller farms. Reducing price variability has smaller impacts than the $0.12/cwt price increase. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1998 |
URL: http://purl.umn.edu/31512 |
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