The Standby Milk Pool—A New Strategic Bargaining Device

Hugh L. Cook

American Journal of Agricultural Economics, 1970, vol. 52, issue 1, 103-108

Abstract: The standby milk pool is a voluntary supply-management device. Through it the cooperatives in high-priced markets, with little or no surplus, pay cooperatives in distant areas that have surpluses, to manufacture these supplies into butter-powder or cheese where they are and to ship them in fluid form only when called for. Thus, recipient cooperatives in surplus areas share in the high-priced deficit markets. Contributing cooperatives find it economical to: (a) pay for reserves, (b) pay for certainty that these reserves will not move unless called for. Thus they can bargain for premiums above federal order minimums.

Date: 1970
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