This paper analyzes the effects of policy instruments used in the dairy sector. The analysis considers the supply of milk, the processing step characterized by joint production and the final demand for processed goods. A short term partial equilibrium model is defined. We use it to determine the...

The objective of this research is to evaluate increasing interaction between the private Exchange spot cheese market and Federal Milk Marketing Orders pricing system during three milk pricing regimes: Minnesota-Wisconsin price series (1960s-1995), Basic Formula Price (1995-1999) and Multiple...

China's 10-year old wheat futures market, the China Zhengzhou Commodity Exchange (CZCE) has been in stable development since establishment and is expected to be integrated to the world market after China joined WTO. This paper compares the price behavior of CZCE with that of the Chicago Board of...

Asymmetry of information is a fundamental problem in agricultural markets. Production contracts remain incomplete if product quality attributes measured by the buying company remain unobservable for the selling farmer. Opportunistic buyers would report lower than actual output quality,...

The valuation of traceable or safety-branded food by consumers in developing countries affected by diseases such as avian influenza, or with food safety issues in general, is very difficult to identify. Products that have safety-branding are not common, and food is usually purchased by...