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Full-Text Articles in Social and Behavioral Sciences
Estimating The Impacts Of Differing Price-Risk Management Strategies On The Net Income Of Salinas Valley Lettuce Producers: A Stochastic Simulation Approach, Roland Fumasi, Wayne H. Howard, Jay E. Noel
Estimating The Impacts Of Differing Price-Risk Management Strategies On The Net Income Of Salinas Valley Lettuce Producers: A Stochastic Simulation Approach, Roland Fumasi, Wayne H. Howard, Jay E. Noel
Jay E. Noel
While government safety-net programs are used to mitigate the price risk for commodity producers, limited programs exist for specialty crop producers. Specialty crop producers utilize forward contracts to reduce downside price risk. In order to estimate the method of price-risk management, if any, that is preferable to selling at market determined prices, a stochastic simulation model was constructed. The completed simulation model was used to estimate probability distributions for Salinas Valley net income under different pricing scenarios. Probabilities of reaching various net income thresholds were compared. Results indicate that Salinas Valley lettuce producers should maximize profitability by using forward contracts.
Devolution Of Federal Agricultural Policy: The Case Of Specialty Crop Block Grants, Jay E. Noel, David Schweikhardt
Devolution Of Federal Agricultural Policy: The Case Of Specialty Crop Block Grants, Jay E. Noel, David Schweikhardt
Jay E. Noel
There is a lengthy history of devolution of federal policy and programs to the states through the use of grants-in-aid in general and block grants in particular. In the area of agricultural policy, for example, programs for agricultural research and extension have, since their origin, been jointly funded by a system of grants from the federal government to the states. In recent years, the possible consequence of a major devolution of farm policy and programs from the federal government to the states has received much attention.
Impact Of Increased Minimum Wage On Southern San Joaquin Valley Navel Orange Producers, Kallie Donnelly, Jay E. Noel
Impact Of Increased Minimum Wage On Southern San Joaquin Valley Navel Orange Producers, Kallie Donnelly, Jay E. Noel
Jay E. Noel
The California Institute for the Study of Specialty Crops (CISSC) developed a representative farm simulation model for navel producers in the Southern San Joaquin Valley. The farm simulation model simulates a producer’s financial statements for 2005-2014, including the income statement, statement of cash flows, and balance sheet. This model allows model prices and yields to vary over time. The variability is based on historical variation in navel orange prices and yield. This is done to capture the risk and uncertainty associated with variable prices and yields.