TY  - RPRT
AB  - Congress reorganized dairy policy in the Agricultural Act of 2014 when it eliminated  three programs and created the Dairy Margin Protection Program. The new program  aims to provide farmers with financial protection against risks from increasing vola - tility in milk and feed prices. These developments occurred amid ongoing structural  change toward larger dairy farms, as well as ongoing change in dairy product demand,  away from fluid milk, and toward manufactured products sold in domestic and export  markets. This report focuses on the interrelated topics of structural change in dairy  production, changes in dairy product markets, growing price volatility, and dairy  policy. It details the major developments in each, traces the linkages among them, and  identifies the challenges that structural change, evolving product markets, and price  volatility pose for policy. ----- Errata On May 17, the following corrections were made to ERR-205,  Changing Structure, Financial  Risks, and Government Policy for the U.S. Dairy Industry . Three cells in Table 3 were updated as  follows: “Western States, 3,000-3,999 head in 1992" (19), “Traditional States, 1,000-1,999 head  in 1997" (54), and “Other States, 1,000-1,999 head in 2002" (56). On page 10, the State in which  Shamrock Farms is located was corrected. In addition, Appendix table A-2 was updated to reflect  return-on-equity calculations for the full rather than a restricted sample of dairy farms.
AU  - MacDonald, James M. 
AU  - Cessna, Jerry 
AU  - Mosheim, Roberto 
DA  - 2016-03-01
DA  - 2016
DO  - 10.22004/ag.econ.262200
DO  - doi
ID  - 262200
KW  - Agricultural and Food Policy
KW  - Industrial Organization
KW  - Livestock Production/Industries
KW  - Farm structure
KW  - Margin Protection Program
KW  - dairy policy
KW  - dairy trade
KW  - ARMS
KW  - dairy farm finances
KW  - milk prices
KW  - dairy exports
KW  - dairy structure
L1  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf
L1  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf?subformat=pdfa
L2  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf
L2  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf?subformat=pdfa
L4  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf
L4  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf?subformat=pdfa
LA  - eng
LA  - English
LK  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf
LK  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf?subformat=pdfa
N2  - Congress reorganized dairy policy in the Agricultural Act of 2014 when it eliminated  three programs and created the Dairy Margin Protection Program. The new program  aims to provide farmers with financial protection against risks from increasing vola - tility in milk and feed prices. These developments occurred amid ongoing structural  change toward larger dairy farms, as well as ongoing change in dairy product demand,  away from fluid milk, and toward manufactured products sold in domestic and export  markets. This report focuses on the interrelated topics of structural change in dairy  production, changes in dairy product markets, growing price volatility, and dairy  policy. It details the major developments in each, traces the linkages among them, and  identifies the challenges that structural change, evolving product markets, and price  volatility pose for policy. ----- Errata On May 17, the following corrections were made to ERR-205,  Changing Structure, Financial  Risks, and Government Policy for the U.S. Dairy Industry . Three cells in Table 3 were updated as  follows: “Western States, 3,000-3,999 head in 1992" (19), “Traditional States, 1,000-1,999 head  in 1997" (54), and “Other States, 1,000-1,999 head in 2002" (56). On page 10, the State in which  Shamrock Farms is located was corrected. In addition, Appendix table A-2 was updated to reflect  return-on-equity calculations for the full rather than a restricted sample of dairy farms.
PY  - 2016-03-01
PY  - 2016
T1  - Changing Structure, Financial Risks, and Government Policy for the U.S. Dairy Industry
TI  - Changing Structure, Financial Risks, and Government Policy for the U.S. Dairy Industry
UR  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf
UR  - https://ageconsearch.umn.edu/record/262200/files/56833_err205_errata.pdf?subformat=pdfa
Y1  - 2016-03-01
T2  - Economic Research Report Number 205
ER  -