{"id":8998,"date":"2018-12-12T23:24:02","date_gmt":"2018-12-12T23:24:02","guid":{"rendered":"http:\/\/dairylando.com\/?p=3943"},"modified":"2018-12-12T23:24:02","modified_gmt":"2018-12-12T23:24:02","slug":"mercado-de-futuros-de-leche-cruda","status":"publish","type":"post","link":"https:\/\/dairylando.com\/en\/mercado-de-futuros-de-leche-cruda\/","title":{"rendered":"Futures market of Raw Milk"},"content":{"rendered":"<p style=\"text-align:left;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3944 alignleft\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Binoculares-viendo-leche.jpg\" alt=\"Binoculares viendo leche\" width=\"327\" height=\"225\" \/>Is long the <strong><em>Futures market of Raw Milk<\/em><\/strong>, a tool that will provide predictability to the business of the dairy sector of Argentina, allowing both to the producer as seller, and the industry as a buyer, to develop a hedging strategy.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3948\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Mercado-de-Futuros-Leche.jpg\" alt=\"Mercado de Futuros Leche\" width=\"727\" height=\"115\" \/><\/p>\n<p>Future of Raw Milk<br \/>\n\uf0b7 Allow to fix in advance the price of purchase-sale of the milk<br \/>\n\uf0b7 There is No physical delivery of milk, but the contracts are settled by the difference of<br \/>\nprice between the value agreed original and the reference value for the raw milk<br \/>\ninformed by the SIGLeA<br \/>\n\uf0b7 To hire the Market requires the deposit of a security (Margin) for the contract,<br \/>\nthat is returned when the operation is canceled.<br \/>\n\uf0b7 The loss\/gain in function of the evolution of the price with respect to the price<br \/>\nhired are paid for in advance, in cash.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3948\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Mercado-de-Futuros-Leche.jpg\" alt=\"Mercado de Futuros Leche\" width=\"727\" height=\"115\" \/><\/p>\n<p><strong>What is traded?<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3945 aligncenter\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Cuadro-1.jpg\" alt=\"Cuadro 1\" width=\"581\" height=\"373\" \/><\/p>\n<p><strong>Financial Resources<\/strong><\/p>\n<p>To be able to hire in the Market requires the deposit of a security (Margin) for the contract, which is returned to cancel the operation.<br \/>\nContract<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3946 aligncenter\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Cuadro-2.jpg\" alt=\"Cuadro 2\" width=\"587\" height=\"124\" \/><\/p>\n<p>Remember that the margins can be covered with financial assets such as government securities, fixed deadlines, cuotapartes of FCI, in order to mitigate the financial cost.<\/p>\n<p><strong>How coverage works?<\/strong><\/p>\n<p>The coverage is a tool used to minimize the economic risk generated by the volatility of prices.<br \/>\nExample:<br \/>\nIn the month of December 2018 a producer that markets its milk with a payment method where you pay off the value of SIGLeA+$0.30 per litre you want to set the price to 150,000 litres of milk that is going to deliver during the month of February 2019. Currently the future March (the price of the march to reflect the price for milk sold in February) of raw milk is negotiated to a value of $10 per liter.<br \/>\nTo ensure the price you decide to sell 30 contracts (30 x 5,000= 150,000 litres of milk) of milk-raw, march, 2019, at $10.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3947\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Cuadro-3.jpg\" alt=\"Cuadro 3\" width=\"611\" height=\"349\" \/><\/p>\n<p><strong>Results of the coverage:<\/strong><\/p>\n<p>Through the sale of futures at $10, the producer is assured to be compensated for any variation of price with respect to such level. In this way, delivering the milk to their usual customer, that you&#039;re going to pay SIGLeA+$0.30 per liter, ensures a price of $10.30 to milk delivered during the month of February 2019.<br \/>\nAt the time of cancel the contract in March 2019, there are three possible scenarios:<br \/>\n1. The price of the SIGLeA is less than $10: you receive compensation for the drop in the price.<br \/>\n2. The price of the SIGLeA is equal to $10: neutral outcome<br \/>\n3. The price of the SIGLeA is greater than $10: you deposit a loss for the difference between the<br \/>\nfinal price and the $10 agreed initially<br \/>\n<strong>How to access the trading?<\/strong><\/p>\n<h4>It is necessary to specify the following steps:<br \/>\n*Keep in mind that the commission of the agent agreed privately between client and agent. The commission of 0.25% is only an example.<\/h4>\n<p>1. Contact an Agent authorized by the National Securities Commission<br \/>\n(<a href=\"https:\/\/www.cnv.gov.ar\/sitioweb\/\" target=\"_blank\" rel=\"noopener nofollow\">www.cnv.gov.ar <\/a>) to act as an intermediary in the Capital Market.<br \/>\n2. Arrange the opening of an Account Customer, which authorizes the Agent<br \/>\nto operate the order and on account of the purchaser in the Market<br \/>\n3. Provide supporting documentation that proves existence as a physical person or<br \/>\nlegal status (identity card, proof of CUIT or CUIL) and payroll of persons entitled to exercise<br \/>\nthe will of the company.<br \/>\n4. Demonstration of income of the owners of the account (pay stubs, statement<br \/>\naffidavit of IIGG, balance sheets, as appropriate).<br \/>\n5. Fund the account through a bank transfer to the account of the Agent<br \/>\n* Through the web of ROFEX\/MATBA I can view the list of agents authorized to operate:<br \/>\n<strong><a href=\"https:\/\/www.rofex.com.ar\/agentes\/agentes_rofex\/\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/www.rofex.com.ar\/agentes\/agentes_rofex\/<\/a><\/strong><br \/>\n<strong><a href=\"http:\/\/www.matba.com.ar\/pdf\/Agentes\/listado.Actualizado.pdf\" target=\"_blank\" rel=\"noopener nofollow\">http:\/\/www.matba.com.ar\/pdf\/Agentes\/listado.Actualizado.pdf<\/a><\/strong><\/p>\n<h2><a href=\"https:\/\/www.agroindustria.gob.ar\/sitio\/areas\/ss_lecheria\/mercado_futuro\/\" target=\"_blank\" rel=\"noopener nofollow\"><strong>FUTURES MARKETS FOR RAW MILK<\/strong><\/a><\/h2>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3948 aligncenter\" src=\"https:\/\/dairylando.com\/wp-content\/uploads\/2018\/12\/Mercado-de-Futuros-Leche.jpg\" alt=\"Mercado de Futuros Leche\" width=\"727\" height=\"115\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Se larga el Mercado de Futuros de Leche Cruda, una herramienta que aportar\u00e1 previsibilidad al negocio de la lecher\u00eda de [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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