Lookup NU author(s): Dr Jeremy Robert Franks
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The milk quota lease price in the UK often increases towards the end of the quota trading year. The reasons behind the 'end of season effect' are discussed. It is argued that it occurs because some farmers are unable to reduce production to their effective quota even though there are clear indications that superlevy will be incurred. In these circumstances, farmers adopt a second best strategy of increasing the price they bid to lease quota because this can reduce the financial loss associated with the production and disposal of over-quota milk.
Author(s): Franks J
Publication type: Article
Publication status: Published
Journal: Farm Management: Journal of the Institute of Farm Management
ISSN (print): 0014-8059
ISSN (electronic): 0071-3945
Publisher: Institute of Agricultural Management