MERCADOS FINANCIEROS, INFLUENCIA EN LAS EXPLOTACIONES LECHERAS GALLEGAS

Abstract

The primary sector in Galicia has a great influence in the economy of the community, being the milk production the most important within it. Its yield reduction is due to the increase in the price of feed and concentrates, which could be explained by the poor harvests in the Black Sea region (Russia, Ukraine, and Kazakhstan), the poor conditions during harvest in some countries like Canada or the decrease of the forecasts of some cereals in the U.S. But with interest rates at historic lows, and the low profitability of the securities of companies in the stock market, investment in commodities through futures contracts has been consolidating in recent years. This study analyzes these operations in financial markets, their development and how they can threaten the profitability and survival of many farms in Galicia.