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The impact of extreme weather on milk prices
This thesis should analyse how milk prices in Flanders react to extremely high temperatures.
Keywords: milk prices; weather extremes; dairy
Many variables drive milk prices in Europe: demand, supply, policies (e.g. the quota abolishment, emission policies). During heat waves, cows experience heat stress, which reduces milk production and milk quality. Also feed production is affected by hot weather. We expect that this influences the milk price. This research should analyse to what extend (size and duration of the effect) this is true in Flanders, a region in Belgium. The spatial and temporal scale of the heat wave should be taken into account. Daily weather data and monthly milk prices are available. Data on monthly milk purchases (quantity, fat and protein content) for 29 buyers can be requested.
Many variables drive milk prices in Europe: demand, supply, policies (e.g. the quota abolishment, emission policies). During heat waves, cows experience heat stress, which reduces milk production and milk quality. Also feed production is affected by hot weather. We expect that this influences the milk price. This research should analyse to what extend (size and duration of the effect) this is true in Flanders, a region in Belgium. The spatial and temporal scale of the heat wave should be taken into account. Daily weather data and monthly milk prices are available. Data on monthly milk purchases (quantity, fat and protein content) for 29 buyers can be requested.
Research questions
• Does weather influence the milk price in Flanders?
• Does the impact depend on the temporal and spatial scale of heat waves?
• (Does weather change purchased milk quantities? And do they relate to milk prices?)
Methods
Time series analysis
Research questions • Does weather influence the milk price in Flanders? • Does the impact depend on the temporal and spatial scale of heat waves? • (Does weather change purchased milk quantities? And do they relate to milk prices?)