Commodities & markets, Policy, Studies

U.S. Dairy Policy: Analysis and Options

This paper describes the economic effects of the main elements of current U.S. dairy policy, presenting data and drawing from the conceptual and empirical literature on the subject where possible. Four main policy instruments are examined: the Milk Price Support Program, federal and state milk marketing orders, trade policy affecting U.S. dairy markets, and the Milk Income Loss Contract program. For each policy instrument, the effects on dairy sector prices and quantities are discussed, along with the implications for economic welfare of producers, processors, and consumers.

See PDF article here: U.S. Dairy Policy: Analysis and Options by Joseph V. Balagtas

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