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The Effects of Federal Milk Orders on the Economic Performance of U.S. Milk Markets
W. D. Dobson and Larry E. Salathe
American Journal of Agricultural Economics
Vol. 61, No. 2 (May, 1979), pp. 213-227
Stable URL: http://www.jstor.org/stable/1239726
Page Count: 15
You can always find the topics here!Topics: Milk, Prices, Market prices, Surplus, Milk production, Business orders, Supply, Marketing, Pricing, Capital costs
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Class I price differentials maintained by the U.S. Department of Agriculture and producers during 1965-75 generated Grade A milk supplies in excess of fluid needs and reserves for the federal order system. As required by specified norms, USDA has adopted federal milk order provisions which reduce pronounced seasonality of milk production and lessen certain types of erratic and extreme price variation. If federal milk orders were eliminated and cooperatives and state agencies were barred from replacing the orders, then fluid milk markets characterized by lower Class I differentials, greater milk price variability, and smaller Grade A milk surpluses might emerge.
American Journal of Agricultural Economics © 1979 Agricultural & Applied Economics Association