Instructions

This tutorial file (4.3 Mb) contains the recently updated self-extracting archive of the University of Wisconsin Dairy Futures and Options Tutorial.  This revision incorporated the changes that have occured since Federal Order Reform took effect on Jan. 2000 and also contains a detailed discussion of Classified Pricing under this new system.  

To install and run this tutorial:

1).  Click on "Software" in the index on the previous page to download the file "tutor-05-24-02.exe" to the desired location on your hard disk.  Let's refer to this directory here as "ROOT/tutorial", although you can name it anything you want.  Next, run this executable program.  This extracts the tutorial from the archive and places the tutorial system into the subdirectory:"ROOT/tutorial".

2).  Use your file manager to move to the directory: "ROOT/tutorial", where the term "ROOT" represents the specific label that was applied to the root directory where you stored the tutorial system.

3).  Start your web browser.  In Netscape, click on "File", "Open Page", and "Browse" until you find start_tutor.htm in the above "ROOT/tutorial" directory.  Then, click on this file to open it.   In Internet Explorer, click on "File", "Open", and "Browse" until you find start_tutor.htm in the above "ROOT/tutorial" direcotory.  Then, click on this file to open it.

4).  The Excel workbook, "futures_and_options_strategies.xls", immediately follows in the index of the previous page.  This workbook contains a series of spreadsheet models that will illustrate the use of the various futures/options strategies discussed in this current tutorial.

5).  If you have problems, please contact Dr. Brian W. Gould, Dept. of Agricultural and Applied Economics, University of WI-Madison, gould@aae.wisc.edu, (608) 263-3212.   Also, in the course of working through this tutorial, if you find errors or the material is in any way unclear, please feel free to send us your comments.