Decomposition of Milk Supply Response into Technology and Price‐Induced Effects

1990 ◽  
Vol 72 (4) ◽  
pp. 864-872 ◽  
Author(s):  
Don P. Blayney ◽  
Ron C. Mittelhammer
Keyword(s):  
Milk Supply ◽  
Supply Response

scholarly journals Milk Supply Response in Delaware

1980 ◽  
Vol 9 (1) ◽  
pp. 41-45 ◽  
Author(s):  
G. Joachim Elterich ◽  
Sharif Masud
Keyword(s):  
Milk Production ◽  
Negative Impact ◽  
Milk Supply ◽  
Supply Response ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Long Run ◽  
Milk Cows ◽  
Short Run ◽  
Lag Model

Milk supply response by dairy farmers in Delaware was analyzed employing distributed lag price structures for number of milk cows and milk production per cow. A polynominal distributed lag model is fitted to quarterly data with deflated prices for the period 1966 to 1978. The variations in the number of milk cows is explained by about 98 percent. Farmers react positively to milk prices after 1–2 years, while wages and feed prices have a negative impact on cow numbers. Milk production per cow shows positive adjustments to milk prices after 6 to 15 months. Technology and feed prices influence also milk production While the short-run price elasticity of milk production is only .2, the long-run aggregate elasticity grows to 2.8 percent. Intermediate-run projections of milk supply were also performed with the model.

Asymmetry in milk supply response

1984 ◽  
Vol 13 (1) ◽  
pp. 152-156 ◽  
Author(s):  
David Hallam
Keyword(s):  
Milk Supply ◽  
Supply Response

A Regional Analysis of Milk Supply Response in the United States

1990 ◽  
Vol 12 (2) ◽  
pp. 149-164
Author(s):  
Jean-Paul Chavas ◽  
Alan Francis Kraus ◽  
Edward V. Jesse
Keyword(s):  
United States ◽  
Regional Analysis ◽  
The United States ◽  
Milk Supply ◽  
Supply Response

A Regional Analysis of Milk Supply Response in the United States

1990 ◽  
Vol 12 (2) ◽  
pp. 149 ◽  
Author(s):  
Jean-Paul Chavas ◽  
Alan Francis Kraus ◽  
Edward V. Jesse
Keyword(s):  
United States ◽  
Regional Analysis ◽  
The United States ◽  
Milk Supply ◽  
Supply Response

scholarly journals Negative Milk Supply Response Under Constrained Profit Maximizing Behavior

1988 ◽  
Vol 17 (2) ◽  
pp. 111-117 ◽  
Author(s):  
Loren W. Tauer ◽  
Harry M. Kaiser
Keyword(s):  
Conceptual Model ◽  
Analysis Of Variance ◽  
Cash Flow ◽  
Budget Constraint ◽  
The Other ◽  
Supply Function ◽  
Milk Supply ◽  
Supply Response ◽  
Record Data ◽  
Profit Maximizing

A conceptual model is formulated that shows that a downward sloping supply function may exist for a profit maximizing firm facing a cash-flow constraint. The necessary requirement is that at least one factor must be a non-cash input. The model is tested using analysis of variance on two groups of producers from farm record data, one group facing a binding budget constraint the other group not. The results indicate that farms facing a cash flow constraint increase output more than farms not restricted by a cash flow constraint in response to a price decrease.

scholarly journals YIELD UNCERTAINTY AND MILK SUPPLY RESPONSE IN TWO-TIER PRICE SYSTEMS

2017 ◽  
Vol 49 (1) ◽  
pp. 66-82
Author(s):  
DANIEL MULUWORK ATSBEHA
Keyword(s):  
Dairy Farms ◽  
Relative Importance ◽  
Milk Supply ◽  
Price Changes ◽  
Supply Response ◽  
Excess Production ◽  
Multiple Input ◽  
Yield Uncertainty ◽  
Milk Market

AbstractIn two-tier price systems, yield uncertainty creates incentives to overproduce quantity-restricted outputs even when prices for surplus output are very low. These incentives arise from precautionary motives against expected losses from quota shortfalls. Using an approach augmented for multiple input applications, the likelihood of excess production and the relative importance of price changes in different markets are estimated for Icelandic dairy farms. The results indicate that the average farm plans to exceed its quota, and price changes in the surplus milk market are approximately three times more effective in generating supply response than price changes in the quota milk market.

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