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A New Direction for the Payment of Milk: Technological and Seasonality Considerations in Multiple Component Milk Pricing of Milk (Liquid and Manufacturing) for a Diversifying Dairy Industry

Breen, J.
; 
Wallace, Michael
; 
Crosse, Seamus
; 
O'Callaghan, Donal
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Keywords
Milk pricing, Dairy industry
Date
01/01/2007
Collections
Farm Management & Rural Development
REDP End of Project Reports
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eopr-4844.pdf
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http://hdl.handle.net/11019/1006
Citation
Breen, J., Wallace, M., Crosse, S., O'Callaghan, D., A New Direction for the Payment of Milk: Technological and Seasonality Considerations in Multiple Component Milk Pricing of Milk (Liquid and Manufacturing) for a Diversifying Dairy Industry, End of Project Report, Teagasc, 2007
Abstract
The main objectives of this study were to compare a Multiple Component Pricing system with the current milk pricing practice in Ireland and to estimate the marginal values of the three main milk components (fat, protein and lactose) in the context of the Irish milk processing industry. A representative linear programming model of an average Irish milk processor was developed in order to determine the marginal values of the milk components and to compare the value of milk under the Multiple Component Pricing system with the value under the current milk pricing practice. This study also examined the effect of product mix, milk supply and milk composition on the marginal value of the milk components.
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