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Pricing Systems as Related to Milk Composition Variability

Department of Agricultural Economics, University of Connecticut, Storrs 06268

ABSTRACT

Milk pricing systems should be changed under Federal orders and in manufacturing markets so as to reflect variability in the protein as well as in the milk fat content of milk. The suggested method in fluid milk markets is: milk fat price – 11.5% of the Chicago price of butter for each .1% of fat, applicable to each class price and to the blend; protein price — 3 cents for each .1% of protein (with later adjustment upward), applicable to each class price and to the blend; fluid price — the residual value per hundredweight needed to give present class prices for milk of average test, and to "clear the pool" in the blend price.