An Econometric Model for Forecasting the Manufacturing Grade Price of Milk in U.S. Markets

Ken Bailey and Steve Gallivan

No 285643, 1981-1999 Conference Archive from NCR-134/ NCCC-134 Applied Commodity Price Analysis, Forecasting, and Market Risk Management

Abstract: The object of this paper is to develop a forecasting tool that will accurately predict the M-W price series. The model reflects the Secretary's final decision for the new M-W estimate which consists of the base month M-W lagged one month plus an update price formula. The statistical model in this report estimates the base month M-W as a function of dairy commodity prices. The latter are used as a proxy for the gross wholesale value of milk used in cheese and butter/nonfat dry milk plants in Minnesota and Wisconsin. The statistical results indicate the model is accurate.

Keywords: Marketing (search for similar items in EconPapers)
Date: 1995-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nc8191:285643

DOI: 10.22004/ag.econ.285643

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