HIGHLIGHTS
- who: Bob Cropp from the Kansas State University Agricultural Experiment Station and have published the article: Futures contracts for milk: how will they work?, in the Journal: (JOURNAL)
- future: Hedging is taking opposite transactions in the cash and futures markets.
SUMMARY
In June 1993, the Coffee, Sugar and Cocoa Exchange (CSCE) introduced futures and options contracts for cheddar cheese and nonfat dry milk. The federal dairy price support program provided a relatively high floor (safety net) under manufacturing milk prices directly and under Grade A milk prices indirectly. For many years . . .
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