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Retail Dairy Prices Fluctuate with the Farm Value of Milk
Farm milk prices tend to be volatile. Dairy farmers, industry pundits, and policymakers further tend to react to price volatility with alarm. One point of concern is the response of retail prices. This study investigates farm-to-retail price transmission in the 2000s for whole milk and Cheddar chees...
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Published in: | Agricultural and resource economics review 2011-09, Vol.40 (2), p.201-217 |
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description | Farm milk prices tend to be volatile. Dairy farmers, industry pundits, and policymakers further tend to react to price volatility with alarm. One point of concern is the response of retail prices. This study investigates farm-to-retail price transmission in the 2000s for whole milk and Cheddar cheese. Results show that price shocks at the farm gate are transmitted with delay and asymmetry to retail. Differences in the nature of price transmission for whole milk and Cheddar cheese prices are also identified. |
doi_str_mv | 10.1017/S1068280500008017 |
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source | EconLit s plnými texty; Publicly Available Content Database (Proquest) (PQ_SDU_P3); ABI/INFORM global |
subjects | Agricultural economics Agriculture Asymmetry Contributed Papers Dairy industry Dairy products Error correction & detection Expected values Milk Price increases Retail stores Volatility |
title | Retail Dairy Prices Fluctuate with the Farm Value of Milk |
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