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Agricultural and Resource Economics Commons™
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- Agricultural economics (34)
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Articles 1 - 30 of 162
Full-Text Articles in Agricultural and Resource Economics
Risk Management Considerations For Camelina And Carinata, Matthew Diersen, Sumaiya Saleh
Risk Management Considerations For Camelina And Carinata, Matthew Diersen, Sumaiya Saleh
Economics Staff Paper Series
Relatively new crops pose a challenge to growers and agribusinesses. While they would explore returns from new crops, adoption may mean giving up risk management tools inherent with growing established crops. The oilseed crops camelina and carinata are discussed in the context of the ability to insure them in South Dakota. Camelina (Camelina sativa) is currently insurable in portions of Montana and North Dakota. While carinata (Brassica carinata) is not insurable with a stand-alone policy, coverage was available in Montana and North Dakota in 2015 under the canola policy as a rapeseed type. Processor contracts are often a necessary condition …
Grid Valuation Of Beef Carcass Quality: Market Power And Market Trends, Scott Fausti, Bahir Qasmi, Matthew Diersen, Bill Adamson
Grid Valuation Of Beef Carcass Quality: Market Power And Market Trends, Scott Fausti, Bahir Qasmi, Matthew Diersen, Bill Adamson
Economics Staff Paper Series
The fed cattle grid pricing system’s premium and discount incentive mechanism is investigated. Two issues are addressed: a) we investigate changes in the weekly market value of an animal’s carcass quality attributes as determined by the USDA-Agricultural Marketing Service (AMS) additive grid; and b) an evaluation of the effect of packer behavior on grid valuation of carcass quality attributes. A pooled-cross sectional data set containing carcass information on 598 fed steers evaluated weekly on the AMS publically reported price grid (National Carcass Premiums and Discounts for Slaughter Steers and Heifers) was constructed for the years 2001 to 2008 (226,000 observations). …
The Effect Of Biotechnology And Biofuels On U.S. Corn Belt Cropping Systems., Scott Fausti, Evert Van Der Sluis, Bahir Qasmi, Jonathan Lundgren
The Effect Of Biotechnology And Biofuels On U.S. Corn Belt Cropping Systems., Scott Fausti, Evert Van Der Sluis, Bahir Qasmi, Jonathan Lundgren
Economics Staff Paper Series
The effects of transgenic crop and federal biofuel policy on state-level cropping patterns in the Corn Belt region are investigated (2000-2012). The literature links the expansion of corn acreage to the supplanting of small grain and hay acreage in this region. Empirical evidence generated by a random intercept model with fixed effects indicates that the intensification of corn acres planted was positively impacted by biotech advancements in energy and agriculture. This suggests producers are moving away from diverse cropping patterns and the rotational practices associated with a diverse crop planting strategy. However, the empirical evidence suggests that the effects of …
Rent Gradient Of A College Town, George Langelett, Kuo-Liang Chang, Ekaterina Koromyslova, Charles Appiah
Rent Gradient Of A College Town, George Langelett, Kuo-Liang Chang, Ekaterina Koromyslova, Charles Appiah
Economics Staff Paper Series
Metropolitan areas exhibit a rent gradient based on the distance from the Central Business District (CBD). By contrast to metropolitan models, Brookings, SD, is a traditional college town and home to South Dakota State University. The city also has a vibrant business district located on Main Avenue. Based on model construction from previous research, data gathered from rental units in Brookings were analyzed and compared. According to the empirical results, a rent gradient exists around campus rather than the traditional CBD.
Alternative Annual Forage Crop Options For Northern Great Plains Cattle Producers: A South Dakota Case Study, Md Parvez, Scott Fausti, Thandiwe Nleya, Patricia Johnson, Kenneth Olsen, John Rickertsen
Alternative Annual Forage Crop Options For Northern Great Plains Cattle Producers: A South Dakota Case Study, Md Parvez, Scott Fausti, Thandiwe Nleya, Patricia Johnson, Kenneth Olsen, John Rickertsen
Economics Staff Paper Series
In the Northern Great Plains region, crop and livestock producers view forage crop production as an important component of their farm management system. During periods of increased environmental risk, alternative annual forage crops may provide producers with a risk reducing alternative to traditional forage crops. An alternative forage crop production study (20 varieties) was conducted by South Dakota State University. Production yield data was analyzed using alternative decision making criteria when outcomes are uncertain. Empirical results provide insight on forage crop planting decisions with respect to the importance of optimal harvest timing, and the ranking of alternative forage crops as …
Risk And Marketing Behavior: Pricing Fed Cattle On A Grid, Scott Fausti, Zhiguang Wang, Beshir Qasmi, Matthew A. Diersen
Risk And Marketing Behavior: Pricing Fed Cattle On A Grid, Scott Fausti, Zhiguang Wang, Beshir Qasmi, Matthew A. Diersen
Economics Staff Paper Series
A seven year comparative study of grid pricing versus average pricing of slaughter cattle was conducted to evaluate carcass quality market signals. The primary objective of the study is to determine if market signals sent through the grid pricing system are encouraging producers to market on a grid and discouraging them to market by the pen. Two secondary objectives investigate: 1) if price risk associated with carcass quality uncertainty affects marketing decisions, and 2) if a change in price risk (volatility) affects producer marketing decisions. An EARCH-ln-Mean modeling procedure was adopted. Empirical results suggest that the grid premium and discount …
Optimizing University Managed Resources For South Dakota Public Universities: A Simulation Approach, Michael Holbeck, David Chicoine
Optimizing University Managed Resources For South Dakota Public Universities: A Simulation Approach, Michael Holbeck, David Chicoine
Economics Staff Paper Series
A simulation analysis demonstrates the use of tuition as a policy tool to achieve financial independence among the six South Dakota public universities under University Managed Resources (UMR). The simulation analysis maintains an overall environment of funding stability and is guided by horizontal equity, a concept from the economics of public finance that all entities of the same or similar situation are treated similarly. Financial independence, within the simulation analysis, is defined as an annual budgeting process with no reallocation of financial resources among or between the six universities. For each of the three indicators of horizontal equity simulated, achieving …
Farmland Leasing In South Dakota 2011: Emphasis On Share Lease Arrangements, Nelly Bourlion, Larry Janssen, Burton Pflueger
Farmland Leasing In South Dakota 2011: Emphasis On Share Lease Arrangements, Nelly Bourlion, Larry Janssen, Burton Pflueger
Economics Staff Paper Series
Farmland leasing is an important source of capital and method of controlling land resources in production agriculture allowing land owners and tenants flexibility to enhance, maintain or expand their income-generating capacity. In this report, we (1) provide information on the importance of farmland leasing in South Dakota, and (2) update information on crop-share leasing and hay-share leasing arrangements in South Dakota, based on a survey conducted in 2011. Farmland leasing is important in South Dakota where over 70% of farm operators are involved in farmland leasing and nearly two-fifths of agricultural land acres are leased. Leased farmland acres comprise even …
Uncertainty And Producer Fed Cattle Marketing Decisions: Theory And Evidence, Scott Fausti, Brent Lange
Uncertainty And Producer Fed Cattle Marketing Decisions: Theory And Evidence, Scott Fausti, Brent Lange
Economics Staff Paper Series
The effect of carcass quality uncertainty on the structure of the slaughter cattle market is investigated. A theoretical extension of the “Theory of Factor Price Disparity” is provided. It is demonstrated that the coexistence of a risk premium wedge between pricing mechanisms (live wt., dressed wt., and grid) in conjunction with varying degrees of risk aversion across fed cattle producers explains the coexistence of multiple pricing mechanisms. It is also demonstrated that risk and risk preference provides a plausible explanation for the structure of the fed cattle market and for the variability in slaughter volume across marketing channels. Empirical evidence …
Grid Pricing: An Empirical Investigation Of Market Signal Clarity, Scott Fausti, Bashir Qasmi, Jing Li
Grid Pricing: An Empirical Investigation Of Market Signal Clarity, Scott Fausti, Bashir Qasmi, Jing Li
Economics Staff Paper Series
The ability of the grid marketing system for fed cattle to provide an efficient price transmission mechanism is investigated. Nerlove' s (1958) adaptive expectations approach is adopted to model the relationship between grid premiums (discounts) and the weekly relative supply of carcass quality attributes. Linear regression techniques are used to estimate Nerlove's supply response function. Granger Causality tests are conducted to investigate the relationship between grid premiums (discounts) and the relative supply of carcass quality attributes. Regression estimates and the Granger Causality tests provide empirical support for the 2005 National Beef Quality Audit call for clearer market signals.
Insecticide Use And Crop Selection: A South Dakota Case Study, Tia Mcdonald, Ariel Keating, Scott Fausti, Jing Li, Mike Catangui
Insecticide Use And Crop Selection: A South Dakota Case Study, Tia Mcdonald, Ariel Keating, Scott Fausti, Jing Li, Mike Catangui
Economics Staff Paper Series
South Dakota has recently experienced a significant increase in the proportion of acres treated with insecticide. Unfortunately, data on insecticide usage by crop at the county level is not available. The following case study seeks to uncover the reasons for this increase by analyzing county-level data in South Dakota with a fixed effects panel regression. The study links the proportion of acres planted for a specific crop to the proportion of total acres treated with insecticide. This approach provides insight on how changing cropping patterns in South Dakota have influenced insecticide use.
Variance Risk Premiums And Predictive Power Of Alternative Forward Variances In The Corn Market, Zhiguang Wang, Scott Fausti, Bashir Qasmi
Variance Risk Premiums And Predictive Power Of Alternative Forward Variances In The Corn Market, Zhiguang Wang, Scott Fausti, Bashir Qasmi
Economics Staff Paper Series
We propose a fear index for corn using the variance swap rate synthesized from out-of-the-money call and put options as a measure of implied variance. Previous studies estimate implied variance based on Black (1976) model or forecast variance using the GARCH models. Our implied variance approach, based on variance swap rate, is model independent. We compute the daily 60-day variance risk premiums based on the difference between the realized variance and implied variance for the period from 1987 to 2009. We find negative and time-varying variance risk premiums in the corn market. Our results contrast with Egelkraut, Garcia, and Sherrick …
Economic Analysis Of Sodsaver Provision Of The 2008 Farm Bill For South Dakota, Larry Janssen, Yonas Hamda
Economic Analysis Of Sodsaver Provision Of The 2008 Farm Bill For South Dakota, Larry Janssen, Yonas Hamda
Economics Staff Paper Series
The "Sodsaver" provision, which is a part of the 2008 Federal farm bill, is designed to lessen the conversion of native grass into cropland by limiting federal farm program payments on these converted acres within the Prairie Pothole National Priority Area (PPNPA) in the Northern Plains. Governors of five states in the PPNPA, including South Dakota, were required to make the decision to adopt or not adopt the "Sodsaver" provision. This report includes information on: 1) South Dakota's experience with conversion of rangeland into cropland, 2) estimates of native grassland acres in the PPNPA of South Dakota, 3) potential change …
The Economic Impact Of Crp Acres In South Dakota Returning To Crop Production, Gary Taylor, Larry Janssen
The Economic Impact Of Crp Acres In South Dakota Returning To Crop Production, Gary Taylor, Larry Janssen
Economics Staff Paper Series
The Conservation Reserve Program (CRP) was created in the 1985 Farm Bill as a program to remove highly erodible and environmentally sensitive land from agricultural production for from 10 to 15 years. Although CRP was originally viewed as a supply control program it rapidly evolved into a program that met many environmental objectives. In 2007 South Dakota had 729,397 acres of CRP contracts expired, which was nearly 47% of the 1.56 million acres enrolled in the program. During this period, there was no new farm bill or new CRP policy provisions. The policy environment in late 2006 and most of …
Grid Marketing And Beef Carcass Quality: A Discussion Of Issues And Trends, Scott Fausti, Bashir Qasmi, Matthew Diersen
Grid Marketing And Beef Carcass Quality: A Discussion Of Issues And Trends, Scott Fausti, Bashir Qasmi, Matthew Diersen
Economics Staff Paper Series
Beef industry data suggest that improvements in carcass yield and quality grades have stagnated recently. Empirical analysis, based on USDA market reports, indicates that the share of steer slaughter volume marketed on a grid is less than industry estimates and the growth in market share has stagnated. Trend analysis of market share suggests that grid pricing has become an important marketing channel, but has not become the dominant marketing channel. The lack of industry progress toward achieving the carcass quality goals suggests that grid pricing has not captured the level of market share needed to realize the goals envisioned for …
Review And Analysis Of International And Budgetary Considerations For The 2007 U.S. Farm Bill, Bashir Qasmi, Evert Van Der Sluis
Review And Analysis Of International And Budgetary Considerations For The 2007 U.S. Farm Bill, Bashir Qasmi, Evert Van Der Sluis
Economics Staff Paper Series
We assess the extent to which national budget considerations, international trade negotiations, and domestic political deliberations affect the potential development of an omnibus farm bill, which may be signed into law in 2008. With no successful conclusion of the Doha Development Round of trade negotiations in sight, U.S. legislators appear unable to make politically unpopular decisions on domestic farm policy reform. However, the absence of an international trade agreement does not reduce the need for the U.S. to comply with previous agreements.
The Efficacy Of The Grid Marketing Channel For Fed Cattle, Scott Fausti, Bashir Qasmi, Matthew Diersen
The Efficacy Of The Grid Marketing Channel For Fed Cattle, Scott Fausti, Bashir Qasmi, Matthew Diersen
Economics Staff Paper Series
Beef industry data suggest that beef carcass yield and quality grades have shown little improvement over the last six years. Empirical analysis, based on USDA public market reports, indicates that the share of steer slaughter volume marketed on a grid is less than industry estimates and the growth in grid market share of total steer slaughter is stagnate. Trend analysis of grid market share and carcass quality suggests that grid pricing has not made sufficient progress in achieving the goals envisioned for it as a value based marketing system. We conclude additional research on producer resistance to selling on a …
Public Reporting Of Fed Cattle Grid Prices: Policy Reform Consequences, Scott Fausti, Bashir Qasmi, Matthew Diersen
Public Reporting Of Fed Cattle Grid Prices: Policy Reform Consequences, Scott Fausti, Bashir Qasmi, Matthew Diersen
Economics Staff Paper Series
Mandatory livestock price reporting was implemented in April 2001. Empirical evidence indicates a significant change in volatility occurred in publicly reported fed cattle grid premiums and discounts after its implementation. Empirical analysis of grid premiums and discounts across the pre-and post-reform periods indicates that increased transparency is compatible with either an increase or a decrease in price volatility in the post-MPR period. Furthermore, it appears that the public price reporting system for weekly grid premiums and discounts failed to provide an adequate level of transparency prior to the implementation of price reporting reforms. Our methodology extends the literature on the …
Working Lands Agri-Environmental Policy Options And Issues For The Next U.S. Farm Bill, Thomas Dobbs
Working Lands Agri-Environmental Policy Options And Issues For The Next U.S. Farm Bill, Thomas Dobbs
Economics Staff Paper Series
U.S. farm legislation is due to be updated in 2007, to become effective with the 2008 crop year. Major questions surround the role of environmental or conservation provisions in the new Federal farm bill. In this paper, I first present some background on the evolution of U.S. 'agri-environmental policies'-policies encompassing conservation of agriculture's natural resources and agriculture's impact on the environment. I follow that with a brief discussion of the concept of' multifunctionality' in agriculture, a concept that increasingly is driving discussions of agri-environmental policy options in Europe and the U.S. The subsequent section of the paper contains discussion of …
The Effect Of Early Vs Normal Calf Weaning On Feedlot Performance And Herd Management: A Northern Plains Case Study, Scott Fausti, Douglas Landblom, Patricia Johnson, Martin Beutler, Roger N. Gates, Robin R. Salverson, Hubert H. Patterson, Staeve I. Paisley
The Effect Of Early Vs Normal Calf Weaning On Feedlot Performance And Herd Management: A Northern Plains Case Study, Scott Fausti, Douglas Landblom, Patricia Johnson, Martin Beutler, Roger N. Gates, Robin R. Salverson, Hubert H. Patterson, Staeve I. Paisley
Economics Staff Paper Series
A two-year study of early vs. normal weaning of steer calves was conducted in the western Dakotas in 2003-04. Economic and statistical analysis of calf feedlot performance and carcass quality was conducted. The analysis concludes that early weaning improves feedlot production efficiency, and reduces per day and per pound feedlot production costs. However, early weaned steers are lighter at slaughter; therefore, early weaning lowers carcass revenue relative to normal weaning. The early weaning effect on the profitability of retaining calves through the feedlot stage was not statistically significant. However, statistical analysis indicates that early weaning does have a positive effect …
Shifts In Agricultural Land Valuation In South Dakota: From Market-Based To Income Based Criteria, Tonya Hansen, Richard Shane, Larry Janssen
Shifts In Agricultural Land Valuation In South Dakota: From Market-Based To Income Based Criteria, Tonya Hansen, Richard Shane, Larry Janssen
Economics Staff Paper Series
Agricultural land prices rise amidst increased demand from agricultural producers and individuals seeking land for recreational, speculative, or residential uses. Interest in changing South Dakota's method of valuing agricultural land from a market-based to an income-based approach surfaced and resurfaced in the late 1970s and 1990s, respectively. Using results from two studies, we describe differences in land market conditions between these time periods and summarize the state and county valuation shifts resulting from adopting an income valuation approach. Specifically, we report internal valuation shifts between crop and pasture landowners and external valuation shifts between agricultural landowners and nonagricultural property owners.
Public Price Reporting, Marketing Channel Selection And Price Discovery: The Perspective Of Cow/Calf Producers In The Dakotas, Scott Fausti, Bashir Qasmi, Doug Landblom, Martin Beutler, Pat Johnson, Roger Gates, Hubert Patterson, R. Salverson
Public Price Reporting, Marketing Channel Selection And Price Discovery: The Perspective Of Cow/Calf Producers In The Dakotas, Scott Fausti, Bashir Qasmi, Doug Landblom, Martin Beutler, Pat Johnson, Roger Gates, Hubert Patterson, R. Salverson
Economics Staff Paper Series
Cow/calf producers operating in the Dakotas were surveyed on their price discovery strategies, marketing channel preferences, and their perceptions of how regime change in the public price reporting system for fed cattle affected the beef industry in general and the cow/calf industry in particular. Survey results indicate cow/calf producers consider local institutions (auction barns etc.) to be more reliable for price discovery and marketing their feeder and stocker cattle than regional or national institutions (futures market etc.). Consistent with this view, producers perceive that the current public price reporting system is less reliable than local market sources when making individual …
Better Business Management Through Financial Management, Burton Pflueger
Better Business Management Through Financial Management, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Using The Balance Sheet For Management Decisions, Burton Pflueger
Using The Balance Sheet For Management Decisions, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Using The Income Statement For Management Decisions, Burton Pflueger
Using The Income Statement For Management Decisions, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Using Farm Cash Flow Statements For Management Decisions, Burton Pflueger
Using Farm Cash Flow Statements For Management Decisions, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Agricultural Accounting Computer Software, Burton Pflueger
Agricultural Accounting Computer Software, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Federal Farm Program Payments (1990-2001): An Analysis Of Changing Dependency And The Distribution Of Farm Payments In South Dakota, Larry Janssen, Yonas Hamda
Federal Farm Program Payments (1990-2001): An Analysis Of Changing Dependency And The Distribution Of Farm Payments In South Dakota, Larry Janssen, Yonas Hamda
Economics Staff Paper Series
The growing dependence of the state and local economy and the farm sector on Federal farm program payments is highlighted in this South Dakota case study. The concentration and distribution of farm program payments to recipients at the county, regional and state level from 1996 - 2001 is examined. Reasons for and implications of growing inequality of farm program payments are discussed.
Price Transparency In The Voluntary Price Reporting System For Live Cattle: Theory And Empirical Evidence From South Dakota, Scott Fausti, Matthew Diersen
Price Transparency In The Voluntary Price Reporting System For Live Cattle: Theory And Empirical Evidence From South Dakota, Scott Fausti, Matthew Diersen
Economics Staff Paper Series
The ability of the former federal voluntary price reporting system to facilitate market efficiency in the cash markets for U.S. livestock was questioned by producer groups and academic researchers prior to implementation of federal mandatory price reporting regulations. In the cash market for slaughter cattle, concerns raised in the literature centered on the effect of thinning cash markets and strategic price reporting behavior on the robustness of voluntary cash price reports issued by the USDA-Agricultural Marketing Services. A theoretical framework is developed describing the interregional spatial linkages between cash markets and price reporting regimes (mandatory versus voluntary). Data from South …
Economic Analysis Prepared For The Environmental Impact Statement On Black-Tailed Prairie Dog Conservation And Management On The Nebraska National Forest And Associated Units, Martin Beutler
Economics Staff Paper Series
This limited analysis resulted from a request by the Nebraska National Forest to provide some economic estimates to the value of changes in forage availability that would result from three proposed levels of rodenticide use in the management of black-tailed prairie dogs (BTPD) on the Nebraska National Forest (NNF) and associated units managed by NNF (i.e. Buffalo Gap National Grasslands, Ft. Pierre National Grasslands in South Dakota, and the Oglala National Grasslands in Nebraska.) The values of changes in forage availability were determined based on three alternatives of rodenticide use. These alternatives include: (1) limit use of rodenticides to only …