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Articles 1 - 4 of 4
Full-Text Articles in Social and Behavioral Sciences
Forward Pricing Behavior Of Corn And Soybean Producers, Todd Davis, George Patrick, Keith Coble, Thomas Knight, Alan Baquet
Forward Pricing Behavior Of Corn And Soybean Producers, Todd Davis, George Patrick, Keith Coble, Thomas Knight, Alan Baquet
Department of Agricultural Economics: Faculty Publications
Forward pricing behavior of random samples of Indiana, Nebraska, and Mississippi crop producers was analyzed using Heckman's two-step limited information maximum likelihood estimation procedure. Producers who forward priced during the 1995-1998 period generally expected to forward price in 1999 using similar techniques. Probit models were estimated for cash forward contracts and taking a direct position in futures or options separately and combined. Results provide limited support for the hypothesis that forward pricing should be analyzed as an adoption decision. Variables reflecting risk attitudes do affect the decision to use forward pricing, while variables related to economic position affect the level …
Target Markets For Grain And Cotton Marketing Consultants And Market Information Systems, Oscar Vergara, Keith H. Coble, Darren Hudson, George F. Patrick, Thomas O. Knight, Alan Baquet
Target Markets For Grain And Cotton Marketing Consultants And Market Information Systems, Oscar Vergara, Keith H. Coble, Darren Hudson, George F. Patrick, Thomas O. Knight, Alan Baquet
Department of Agricultural Economics: Faculty Publications
This paper examines the use of market consultants and market information systems by grain and cotton producers. A model of producer demand for marketing information and consultants is proposed that decomposes price received into exogenous and endogenous components. The analysis is based on a survey of over 1,600 producers. The results suggest that expenditures on market information systems and market consultants are not independent and, more specifically, expenditures on marketing consultants substitute for expenditures on market information systems.
Productivity And Welfare, Lilyan E. Fulginiti, Richard K. Perrin
Productivity And Welfare, Lilyan E. Fulginiti, Richard K. Perrin
Department of Agricultural Economics: Faculty Publications
Technical change is generally characterized by a rate and biases, both evaluated for given producer prices. This paper examines the potential discrepancy between this rate and the corresponding rate of consumer welfare change as measured by Allais distributable surplus. We postulate a general equilibrium context with various market failures (taxes, quotas, imperfect competition, and “poorly priced” commodities), and use comparative statics to express the rate of welfare change in terms of the rate and biases of the technical change. An elementary simulation model of a taxed economy suggests that the rate of welfare change may differ from the rate of …
Symposium Paper: Economic And Tax Implications For Managing Beef Replacement Heifers, R. T. Clark, K. W. Creighton, H. H. Patterson, T. N. Barrett
Symposium Paper: Economic And Tax Implications For Managing Beef Replacement Heifers, R. T. Clark, K. W. Creighton, H. H. Patterson, T. N. Barrett
Department of Agricultural Economics: Faculty Publications
Sustainable cowherds require replacement of cull cows either internally via raised heifers or externally with purchased females. Managing raised replacements begins with a weaned heifer calf and continues on through her second pregnancy and calving. Replacement costs were estimated from research conducted in Nebraska for spring-calving cowherds and included the opportunity cost of the heifer calf. The analysis, based on research data, showed that heifer development programs targeted to 50 to 55% of mature BW (MBW) at first breeding can be successful, challenging the traditional target of 65% of MBW at first breeding. The lower BW programs achieved …