The termination of Australia's Domestic Market Support scheme for manufacturing milk producers and the end of state market milk (fluid milk) pricing regulations on June 30, 2000 made Australia's dairy industry arguably the most deregulated in the world. Australia's milk production will become...

In this paper a method for evaluating the supply response of individual producers to a price underwriting scheme is presented. The method includes precise formulae to take account of the impact of price underwriting on the producer's uncertain conditions. The Australian Wheat Board's guaranteed...

The Australian demand for domestically-produced sawn timber is investigated by considering its major use - as an input into residential construction. Using a cost function approach, a system of equations is derived expressing quantities demanded in terms of relative prices. Cross-price...

This study examines the relationship between agricultural profits and farm household wealth across locations and farm sizes in U.S. agriculture. A multiperiod household model is used to develop hypotheses for testing. Results indicate that farmland has out-performed nonfarm investments over the...

The behavior of agricultural commodity markets can arguably result in markedly asymmetric price cycles, that is, downward cycles of substantially different length and breadth than upward cycles. This study assesses whether asymmetric-cycle models can enhance the understanding of the dynamics and...

Counter-seasonal imports of fresh produce facilitate year-round availability in the U.S. and may impact the seasonal structure of market price relationships. Vector autoregression analysis is used to determine the nature and extent of spatial price relationships among four geographically...

This Discussion Paper focuses on strategic adjustments made by leading international dairy firms in response to world market developments in the late 1990s and early 2000s. Firms whose strategies were analyzed include Fonterra, Nestle, selected other Western European companies (including the...

Pre-harvest corn and soybean options-based pricing strategies, and crop yield and revenue insurance were applied to model farms in three states. These combinations reduced income variability while increasing net incomes relative to uninsured harvest cash sales. Adding crop insurances to...

This Discussion Paper describes developments affecting Parmalat of Italy, once one of the world's leading dairy-food firms, which filed for bankruptcy protection in December 2003. After the bankruptcy, it was discovered that fraud on a massive scale had occurred at Parmalat, putting the firm in...

Wheat acreage responses to expected wheat price and price risk are reversed for program and nonprogram-planted acreage in the northern plains, central plains, southern plains, and U.S. Expected wheat price has a strong negative effect on program-complying wheat acreage. Government support prices...