000103617 001__ 103617
000103617 005__ 20170826004242.0
000103617 037__ $$a321-2016-10914
000103617 041__ $$aen
000103617 084__ $$aQ11
000103617 084__ $$aQ14.
000103617 245__ $$aMilk Price Volatility and its Determinants
000103617 260__ $$c2011-05
000103617 269__ $$a2011-05
000103617 270__ $$mfdong6@wisc.edu$$pDong,   Fengxia
000103617 270__ $$mxdu23@wisc.edu$$pDu,   Xiaodong
000103617 270__ $$mbwgould@wisc.edu$$pGould,   Brian W.
000103617 300__ $$a24
000103617 336__ $$aConference Paper/ Presentation
000103617 520__ $$aThe classified pricing of fluid milk under the Federal Milk Marketing Orders (FMMO) system combined with the  cash settlement feature of Class IIII milk futures contracts generate a unique volatility pattern of these futures markets in the sense that  the volatility gradually decreases as the USDA price announcement dates approaching in the month.  Focusing on the evolution of volatility in Class III milk futures market, this study quantifies the relative importance of a set of factors driving milk price variation. While volatilities in both corn futures market and financial market Granger-cause the milk price volatility, the impact of financial market is more persistent. Besides embedded seasonality, market demand and supply conditions in the dairy market, cheese in this case, as well as changes in the U.S. exchange rates are found to have positive and statistically significant impacts on milk price volatility. While speculation positively affects milk futures markets, the effect was found insignificant.
000103617 542__ $$fLicense granted by Xiaodong Du (xdu@iastate.edu) on 2011-05-03 (GMT):

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000103617 650__ $$aAgricultural and Food Policy
000103617 6531_ $$aCash settlement
000103617 6531_ $$aimpulse responses
000103617 6531_ $$amilk pricing
000103617 6531_ $$arealized volatility
000103617 6531_ $$aspeculation
000103617 700__ $$aDong, Fengxia
000103617 700__ $$aDu, Xiaodong
000103617 700__ $$aGould, Brian W.
000103617 8564_ $$s364343$$uhttp://ageconsearch.umn.edu/record/103617/files/Dong-Du-Gould-Milk%20Price%20Volatility.pdf
000103617 887__ $$ahttp://purl.umn.edu/103617
000103617 909CO $$ooai:ageconsearch.umn.edu:103617$$qGLOBAL_SET
000103617 912__ $$nSubmitted by Xiaodong Du (xdu@iastate.edu) on 2011-05-03T01:04:53Z
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000103617 912__ $$nMade available in DSpace on 2011-05-03T01:04:54Z (GMT). No. of bitstreams: 1
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  Previous issue date: 2011-05
000103617 982__ $$gAgricultural and Applied Economics Association>2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania
000103617 980__ $$a321