@article{Bolotova:283709,
      recid = {283709},
      author = {Bolotova, Yuliya V.},
      title = {Price Discovery in the United States Dairy Industry},
      address = {2019-02},
      number = {2173-2019-438},
      pages = {35},
      year = {2019},
      abstract = {The organized Exchange spot (cash) cheese market is a  private industry institution that has historically  performed a primary price discovery function in the U.S.  dairy industry. In addition to affecting cheese prices in  contract cheese market, the Exchange spot cheese prices  have influenced prices paid for milk at the farm level that  are set within the system of Federal Milk Marketing Orders  (FMMOs). The effects that the Exchange spot cheese market  has on FMMOs milk pricing attract increased attention in  light of the most recent concerns about increasing milk  price volatility and its effect on the dairy farm  profitability. While the design of milk pricing within  FMMOs has evolved over the last three decades, the effect  of the Exchange spot cheese prices on FMMOs milk pricing  has intensified. This research conducts an econometric  analysis of the behavior (i.e. the level and volatility) of  the Exchange spot cheese price over three FMMOs milk  pricing regimes.},
      url = {http://ageconsearch.umn.edu/record/283709},
      doi = {https://doi.org/10.22004/ag.econ.283709},
}