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Producer-Level Hedging Effectiveness of Class III Milk Futures

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Author Info
Sanders, Dwight
Schneider, Jonathan
Altman, Ira
Abstract

Mailbox milk prices from a representative dairy operation in Illinois are used to gauge the farm-level hedging effectiveness of Class III milk futures. The results indicate a hedge ratio of 0.85 can reduce price risk by over 90%. The importance of seasonal basis components is highlighted.

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File URL: http://purl.umn.edu/34983
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Paper provided by Southern Agricultural Economics Association in its series 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama with number 34983.

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Date of creation: 2007
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Handle: RePEc:ags:saeasm:34983

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Keywords: Marketing;

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  1. Sanders, Dwight R. & Manfredo, Mark R. & Greer, Tracy D., 2003. "Hedging Spot Corn: An Examination Of The Minneapolis Grain Exchange'S Cash Settled Corn Contract," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 21(1). [Downloadable!]
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