Dairy Economics

This book reviews the complex details of dairy economics including sustainability, animal welfare, nutrition and dairy product specifications. It focuses on explaining the complexities of current milk pricing, federal milk marketing orders, and explores trade policy and risk management. The topics covered in this book are:?Basic review of dairy nutrition, sustainability, technologies, and dairy product characteristics including supply and demand.?Economic contribution of the U.S. dairy industry, and the spatial value of milk.?Federal milk marketing order pricing, pooling and plant obligations and reporting.?Global production and trade, and U.S. trade policy issues, including recent global trade agreements.?Dairy commodity risk management and risk management practices.?What you need to know to be a dairy sourcing manager.?A recommended roadmap for policy changes that will be needed to secure the future of this vital industry for the next 10-20 years.