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Retail Dairy Prices Fluctuate with the Farm Value of Milk

Hayden Stewart () and Don Blayney

No 60947, 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado from Agricultural and Applied Economics Association

Abstract: Farm milk prices in the United States fluctuated throughout the 2000-2009 decade. Dairy farmers, industry pundits, and policymakers all reacted with much alarm. One point of concern has been the response of retail prices to farm price volatility. This study investigates farm-to-retail price transmission for two major dairy products – whole milk and Cheddar cheese – in the 2000s. Results show that price shocks at the farm gate were transmitted asymmetrically to retail. However, in order to best identify the nature of the transmission process, it is important to fit alternative model specifications.

Keywords: dairy prices; error correction models; price transmission; Demand and Price Analysis (search for similar items in EconPapers)
Date: 2010
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Journal Article: Retail Dairy Prices Fluctuate with the Farm Value of Milk (2011) Downloads
Journal Article: Retail Dairy Prices Fluctuate with the Farm Value of Milk (2011) Downloads
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