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The Component Pricing of Milk Revisited

Author

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  • Normand R. St-Pierre
  • Grant M. Scobie

Abstract

Various studies have addressed the impact of component pricing on milk marketing. All required an estimate of the implicit prices of components under an existing scheme. In this paper, we show why results differed between studies, and we present evidence that they drew inappropriate conclusions. A reformulation based on the relationship between fat and solids-not-fat percentages in milk leads to the conclusion that butterfat pricing schemes for milk may have underpriced fat relative to solids-not-fat rather than overpriced butterfat in U.S. produced milk.

Suggested Citation

  • Normand R. St-Pierre & Grant M. Scobie, 1987. "The Component Pricing of Milk Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(3), pages 693-696.
    • Handle: RePEc:oup:ajagec:v:69:y:1987:i:3:p:693-696.
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    File URL: http://hdl.handle.net/10.2307/1241704
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    Cited by:

    1. Waseem AHMAD* & Tanvir AHMED** & Bashir AHMAD***, 2017. "HEDONIC PRICING OF MILK AT RETAIL LEVEL: A Case of Faisalabad, Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 27(1), pages 29-39.
    2. Coggins, Jay S. & Hammond, Jerome W., 1988. "Component Pricing Of Producer Milk: A Yield-Based Model For The Cheese Industry," Staff Papers 14254, University of Minnesota, Department of Applied Economics.
    3. Jean-Paul Chavas & Kwansoo Kim, 2005. "Cointegration relationships and hedonic pricing of differentiated commodities: an application to price dynamics in the US dairy sector," Applied Economics, Taylor & Francis Journals, vol. 37(16), pages 1813-1827.

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