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Milk used for fluid (Class I) consumption generally receives the highest price and lower minimum prices are paid for the three classes of milk used for manufactured dairy products: Class II (yogurt, cottage cheese, ice cream, and other soft manufactured products), Class III (cheese), and Class IV (butter and nonfat dry milk).
In United States agricultural policy, utilization rates refer to the percentage of milk in federal milk marketing orders that is used in each of the classes: Class IV (butter and nonfat dry milk), Class III (), Class II (all other manufactured products), Class I (milk used for fluid consumption).
[102]: 3 In Canada, for example, prices of raw industrial milk purchased by milk processors are based on end-use−fluid consumption, yogurt, ice cream, cottage cheese, butter, [20] [103]: 46 whole milk powder, skim milk and milk protein concentrates (MPCs). The highest price is for Class A or Class 1 for fluid consumption and the lowest price ...
Class I – Rations – Subsistence (food and drinking water), gratuitous (free) health and comfort items. Class II – Clothing And Equipment – individual equipment, tentage, some aerial delivery equipment, organizational tool sets and kits, hand tools, unclassified maps, administrative and housekeeping supplies and equipment.
The New Palgrave Dictionary of Economics, 2008, v. 8, Appendix IV, pp. 854–69, and for the online version by drilling to the primary, secondary, or tertiary JEL code of interest here and pressing the Search button below it for article-preview links. National Bureau of Economic Research Working Papers abstracts by year via links
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Milk products and production relationships. Dairy products or milk products, also known as lacticinia, are food products made from (or containing) milk. [1] The most common dairy animals are cow, water buffalo, nanny goat, and ewe. Dairy products include common grocery store food around the world such as yogurt, cheese, milk and butter.
In United States agricultural policy, the make allowance (or milk manufacturing marketing adjustment) is the margin between the government support price for milk and the Commodity Credit Corporation (CCC) purchase price for butter, nonfat dry milk, and cheese.