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Diane Publishing Books
Changing Structure, Financial Risks, and Government Policy for the U.S. Dairy Industry
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James M. MacDonald (au); Jerry Cessna (au); Roberto Mosheim (au)
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 volatility 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. Figures and tables. This is a print on demand report.
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