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Sustainable Rates of Return for Milk Quotas in Ontario

Author

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  • Moschini, Giancarlo
  • Meilke, Karl D.

Abstract

This paper utilizes the capital asset pricing model, together with available econometric estimates of the cost function of Ontario dairy farms, to estimate rates of returns for three types of milk quotas. The estimated rates follow the trend of the interest rate in the economy, and the rate of return on fluid milk quota is higher than the rate of return on industrial milk quotas.

Suggested Citation

  • Moschini, Giancarlo & Meilke, Karl D., 1988. "Sustainable Rates of Return for Milk Quotas in Ontario," ISU General Staff Papers 198803010800001172, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:198803010800001172
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    1. Iain Fraser & Andrew McInnes & Noel Russell, 1997. "The Allocation Of Sugarbeet Production Contracts: An Application Of Calibrated Production Equilibrium Modelling," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 139-150, January.
    2. Richard R. Barichello & James Vercammen & Benjamin Zammit‐Maempel, 2024. "Are milk quota prices a rational investment? Modeling quotas as financial assets," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 72(3), pages 251-269, September.
    3. Meilke, Karl D. & Sarker, Rakhal & Le Roy, Danny G., 1996. "Analyzing The Potential For Increased Trade In Dairy Products: A Canadian Perspective," Proceedings of the 2nd Agricultural and Food Policy Systems Information Workshop, 1996: Understanding Canada\United States Dairy Disputes 16959, Farm Foundation, Agricultural and Food Policy Systems Information Workshops.
    4. Ewing, Rebecca, 1994. "The Canadian Dairy Industry: Institutional Structure and Demand Trends in the 1990s," Working Papers 244033, Agriculture and Agri-Food Canada.
    5. Wilson, Norbert L.W. & Sumner, Daniel A. & Havenner, Arthur M., 1997. "Time Series Analysis of a Policy-Created Asset: The Case of the California Dairy Quota," 1997 Annual Meeting, July 13-16, 1997, Reno\ Sparks, Nevada 35926, Western Agricultural Economics Association.
    6. Calum Turvey & Alfons Weersink & Craig Martin, 2003. "The Value of Dairy Quota under a Commercial Export Milk Program," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 51(1), pages 69-83, March.
    7. Graham, J. D. & Stennes, B. & MacGregor, R. J. & Meilke, Karl D. & Moschini, GianCarlo, 1990. "Effects of Trade Liberalization on the Canadian Dairy and Poultry Sectors, The," Staff General Research Papers Archive 12754, Iowa State University, Department of Economics.
    8. Doyon, Maurice & Brodeur, Catherine & Gervais, Jean-Philippe, . "Imputing Dairy Producers' Quota Discount Rate Using the Individual Export Milk Program in Quebec," CAFRI: Current Agriculture, Food and Resource Issues, Canadian Agricultural Economics Society, issue 7, pages 1-11.
    9. Predrag Rajsic & Glenn Fox, 2017. "Quota prices as indicators of comparative advantage in supply-managed industries," Agricultural Economics, International Association of Agricultural Economists, vol. 48(2), pages 165-174, March.
    10. Wilson, Norbert L.W. & Sumner, Daniel A., 2004. "Explaining Variations in the Price of Dairy Quota: Flow Returns, Liquidity, Quota Characteristics, and Policy Risk," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(01), pages 1-16, April.

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