With the 2009 milk prices still fresh on everyone’s mind, there has been increased interest in ways to limit milk price volatility. Using SERF, this paper determined some dairies are willing to pay for limited milk price volatility and found a value they are willing to pay using risk premiums.

Interest in Management Intensive Grazing (MIG) of dairy cattle has increased during the last 2 decades. Most dairy producers utilizing MIG were former confinement or non-intensive pasture operations while the others started their operation with MIG. While research publications tout the financial...