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Article: Federal panel OKs milk futures trading Move could give farmers hedge against price swings; Green Bay cheese exchange would get more regulation
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- February 28, 1997
- Author:
CopyrightCopyright 1997 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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In a move that could help Wisconsin's dairy farmers get some
relief from declining milk prices, a federal commission Thursday
approved the trading of milk futures and options on New York's
Coffee, Sugar and Cocoa Exchange.
The decision by the Commodity Futures Trading Commission is
expected to establish a broader market that more accurately reflects
supply and demand across the country, which could be used to set the
price farmers are paid for bulk milk.
In addition, the trading of basic formula price milk futures
contracts on the Coffee, Sugar and Cocoa Exchange would bring new
federal regulation to Green Bay's controversial National Cheese
Exchange.
State agriculture officials say the ...