Economics Commons^™

Determinants Of Performance In Smallholder Farmer Groups In Uganda, David Agole, Connie D. Baggett, John C. Ewing, Edgar P. Yoder, Margaret N. Mangheni

Journal of International Agricultural and Extension Education

The performance of farmer groups is critical for the success of the farmer-led Agricultural Extension approach currently used in Uganda. This study examines factors affecting performance of farmer groups accessing agricultural extension and advisory services from the National Agricultural Advisory Services in Eastern Uganda. The study collected data 200 members of 19 farmer groups in Eastern Uganda. Performance of farmer groups was the dependent variable, which was perceived to be influenced by individual members’ objectives, participation culture, power distance, structure of task, perceived equity, reward allocation and participation in group activities. Farmer group performance had a statistically significant positive relationship …

How Effective Are The Russian Sanctions?, Wesley Peterson

Cornhusker Economics

Russia's invasion of Ukraine has led to extensive economic, financial, trade, and other types of sanctions directed at individual Russians and the Russian economy. The long-term negative effects of the war on the Russian economy may be even more severe and the broader impacts of the conflict mean that it will have serious repercussions for future global economic, political, and diplomatic relations.

Innovation In Futures Markets: Event Contracts, Speculation, And Hedging, Fabio Mattos

Cornhusker Economics

The CME Group has recently launched a new type of contract whose payoffs are based on specific events. These contracts are called event contracts but are also known as prediction contracts or information contracts. They are short-term contracts that expire at the end of each trading day. Traders can take positions in these contracts as they predict whether the price of a given asset will finish the trading day above or below a set value.

Discusses: How are they traded? Main characteristics of event contracts. Event contracts offered by CME group and event examples on October 21, 2022. Why were …

On The Market For "Lemons": When Low Quality Does Not Drive High Quality Out Of The Market, Konstantinos Giannakas, Murray E. Fulton

Cornhusker Economics

In a research article published in Nature's Humanities and Social Sciences Communications (available at https://www.nature.com/articles/s4l 599-020-00658-w) we identify the conditions under which the introduction of a low -quality product does not drive its high-quality counterpart out of the market but, instead, ends-up coexisting with it. Using a theoretical framework of heterogeneous consumers and producers in the context of a market for quality- ( or vertically-) differentiated products supplied by producers differing in their production efficiency, we show that the equilibrium quality configuration in a market depends on both the unobservability of product quality by consumers and the relative costs …

The Storm In World Fertilizer Markets Continues, John C. Beghin

Cornhusker Economics

This article updates the recent article on world fertilizer markets by Beghin and Nogueira (2021), which noted the perfect storm affecting global fertilizer markets through high demand, droughts affecting fertilizer supply, high fossil energy prices, COVID 19-related supply-chain disruptions, and trade policies, all conspiring to elevate fertilizer nominal prices to levels not seen since 2008. In the last 10 months, the Ukraine-Russia war and associated trade sanctions have exacerbated the disruptions in fossil energy, grain, vegetable oil, and fertilizer markets already present in 2021. On the more hopeful side, some United States trade policy developments will help reduce US fertilizer …

Exploring The Impacts Of Lead Farmer Selection On Community Social Learning: The Case Of Farmer-To-Farmer Model: A Review Of Literature, Willis Ochieng, Colby J. Silvert, John Diaz

Journal of International Agricultural and Extension Education

Agricultural extension has shifted towards community-centric, farmer-centered, and participatory approaches that enhance rural change through a social learning lens, resulting in the emergence of the farmer-to-farmer extension model. The purpose of the study was to understand lead farmer selection criteria within the farmer-to-farmer model and their impacts on community social learning. We applied Torraco’s (2005) integrative literature review method to guide our discussion around lead farmer selection processes, types of lead farmers selected and their impacts on social learning. The study indicated farmer-to-farmer extension model has the potential of re-invigorating the provision of agriculture extension services owing to its low …

Discrete Choice Experiments In Agricultural And Food Economics: Two Essays On Information Provision Modalities, Uncertainty Adjustment, And Hypothetical Bias, Monsoïa Arsène Juste Agossadou

Graduate Theses and Dissertations

Stated discrete choice experiments are extensively used in applied economics to study preferences and valuation for new products, as well as costs and benefits of new policies and programs. Moreover, information provision experiments widely use the method to examine information effects on different outcomes. This thesis explores two methodological issues in discrete choice experiments: (i) information provision modalities and (ii) hypothetical bias. The first study examines the effect of information modality by testing the effect of using combined text script and audio clip (treatment) versus only text script (control) to convey information in discrete choice experiments. Specifically, the study elicits …

Comparing The Performance Of Cooperative Plans For Equity Accumulation And Retirement, Jeffrey S. Royer

Cornhusker Economics

Equity allocated to members plays a crucial role in financing agricultural cooperatives. Although retained earnings not allocated to members have become an increasingly importantsource of equity in recent years, U.S. Department of Agriculture (USDA) data show thatallocated equity still accounted for 55.5 percent of the $47.5 billion in total equity held in U.S.cooperatives in 2020. [1] Allocated member equity differs from unallocated equity fromretained earnings in that it is owned by individual members and there is an expectation thatit will be redeemed in cash when it is eventually replaced by newer allocations. A recent study has examined the comparative performance …

The Farm And Ranch Hired Labor Market, Larry Van Tassell

Cornhusker Economics

The historical causality between increased agricultural mechanization and reduction in farmlabor is a well-known relationship. The reduction in both family and hired farmworkers onU.S. f arms from 1950 to 2000 is presented in Figure 1. In 1950, the nearly 10 million farmlabor force was composed of 23.5% hired farm workers. In 2000, the last year this data wasavailable, farm labor had reduced to 3.19 million workers and was comprised of 35.4% ofthose workers being hired. The reduction in total farm workers and the trend of reduced farmlabor and a relative increase in hired farm labor appears to have stabilized during …

Valuation Of Soil Health Ecosystem Services. Vermont Payment For Ecosystem Services Technical Research Report #5, Benjamin Timothy Dube, Alissa C. White, Taylor H. Ricketts, Heather M. Darby

UVM Extension Faculty Publications

In this report, we present estimates for ecosystem services from soil health using two approaches for four different services. One approach generates estimates based on soil-health practices, and the other approach is based on improvements in soil-health indicators. For soil- health practices, such as adopting best-management practices on annual corn, we utilize a set of off-the shelf empirical models widely used to estimate ecological functions on farm landscapes. For soil-health indicators, we make estimates by linking these tools with soil data and statistical models describing how soil-health parameters influence the interaction of soils with water and their environment. We provide …

Western Australian Regional Development Trust Annual Report 2021-22, West Australian Development Trust

Western Australian Regional Development Trust Annual Reports

The Trust is an independent statutory advisory body to the Minister, established under the Royalties for Regions Act 2009 (Act).

The functions of the Trust are to provide advice and make recommendations to the Minister:

• for the purposes of sections 5(2) and 9(1) of the Act; and
• on any other matter relating to the operation of the Fund that is referred to it by the Minister.

In addition to its monitoring and advisory role, the Trust also works to engage and enhance relationships with key regional stakeholders and influencers to promote greater collaboration and innovation in the delivery of regional …

2022 Nebraska Agricultural Custom Rates With Statewide Survey Summary, Glennis Mcclure

Cornhusker Economics

With rising operational costs for agricultural machine hire and services, rates reported on the 2022 University of Nebraska-Lincoln Custom Rates Survey were mostly higher than rates reported on the 2020 survey, ranging from 6% to nearly 20% greater on some common custom services. For example, state average custom rates for harvesting corn and soybeans per acre increased to $41.63 and $40.18 from $39.34 and $37.29, respectively, two years ago. Planting row crop average rates across Nebraska range from $20.17 per acre (no coulters, without band applicator) to $23.50 per acre for ridge planting with band applicator,up 6% to 8% from …

Commodity Marketing For High School Students, Fabio Mattos

Cornhusker Economics

Agricultural commodities play a major role in Nebraska’s economy and are central to the life of many families in the state. Learning the main concepts of commodity marketing becomes essential for young Nebraskans considering careers in the agricultural industry or in farming. Therefore, in the last 10 years, the Department of Agricultural Economics has been expanding its curriculum in commodity marketing and merchandising, as has already been discussed in this space a few years ago (“Commodity Trading Room Comes Online at UNL,” 6/29/2016). Following the same ideas, we are now expanding our efforts to offer a program in commodity marketing …

Complying With Cecl – Applying The Scale Method To Nebraska Community Banks, Jeffrey Stokes, Jared Stauffer

Cornhusker Economics

Current Expected Credit Losses (CECL) is a new expected credit loss accounting standard that was first introduced by the Financial Accounting Standards Board (FASB) in 2016. This new method is meant to replace the current Allowance for Loan and Lease Losses (ALLL) standard. CECL requires the estimation of expected losses over the life of a loan, while ALLL is based on historic, or incurred, losses. This change largely affects banks, but other financial institutions that hold or trade securities can also be subject to the rule. Although CECL was introduced in 2016, the implementation of the rule has had a …

The 30x30 Program: A Federal Land Grab?, J. David Aiken

Cornhusker Economics

In January 2021, the Biden Administration issued a climate policy executive order.[2] [or EO].[3] Section 216 of the Biden climate EO, Conserving & Protecting our Nation’s Lands & Waters, directed the U.S. Department of the Interior, the U.S. Department of Agriculture, and the U.S. Department of Commerce (which includes NOAA, the U.S. National Oceanic & Atmospheric Administration) to prepare a report “recommending steps that the United States should take, working with state, local, tribal and territorial governments, agricultural and forest landowners, fishermen and other key stakeholders to achieve the goal of conserving at least 30% of our lands and waters …

Grocery Store Transitions To Multi-Own Ership - Opportunities And Challenges, Marilyn Schlake

Cornhusker Economics

Independent grocery stores, stores whose owners operate fewer than four outlets, play a vital role in Nebraska communities. These stores help ensure food access for residents, particularly in rural areas. The recent decline in Nebraska’s total number of rural grocery stores is attributed to the closure of these independent stores, which are often owned by individuals or small groups. Finding qualified, motivated owners to purchase and operate independent grocery stores presents pressing challenges for many rural communities. Despite challenges, research shows that rural Nebraska communities perceive their independent grocery store to be an important community amenity. This suggests rural communities …

North Central Extension Risk Management Education Center Helps Producers Manage Risks, Christine Lockert, Brad Lubben, Sheila Aikanathan Johnson

Cornhusker Economics

Farmers and ranchers face many risks and challenges in production agriculture every day. Changing market fundamentals, farm policy reforms, and crop insurance program developments defined the risk environment that led to the authorization of agricultural risk management education as part of the Agricultural Risk Protection Act of 2000. The educational efforts that have followed have been designed to help producers manage the full range of production, marketing, financial, legal, and human risks that are all part of agriculture. In the more than two decades since, the risks facing producers have continued to grow. Producers managed through both the opportunities of …

The Coming Global Food Crisis, E. Wesley F. Peterson

Cornhusker Economics

Inflation driven by rising prices for food, energy, and other consumer goods has become a major concern in the United States and other high-income countries. A far more serious issue is the effect of rising food prices on low-income households in many developing countries in Africa, Asia, and Latin America. Global food prices had been rising in 2020 and 2021 as a result of supply shortages caused by adverse weather conditions exacerbated by climate change, war and civil strife in various countries, and economic shocks in the aftermath of the Covid-19 pandemic and the consequent disruption of global supply chains …

Are You Paid For Your Hard Red Winter Wheat Quality? Yes, But Indirectly., Shane Roberts, Kate Brooks, Lia Nogueira, Cory Walters

Cornhusker Economics

Hard red winter wheat (HRWW) is the largest wheat class grown in the United States, with approximately 660 million bushels produced in 2020, representing about 36% of total U.S. wheat production (USDA ERS 2021). The world market is an important destination for U.S. HRWW. In 2020, exports of U.S. HRWW represented 52% of U.S. production and total U.S. wheat exports represented 13% of total world exports (USDA ERS 2021). U.S. HRWW differs from other wheat classes based on physical characteristics such as color, kernel hardness and planting season as well as consistency in producing end uses such as pan and …

Factors Affecting Graduation With Honors: A Case Study In Business, William Litzinger

Agricultural Economics and Agribusiness Undergraduate Honors Theses

Many first-year college students elect to enroll in their university’s honors program. These programs offer students many educational benefits not provided to non-honors students, such as smaller class sizes, priority registration, and added faculty interaction. However, of the students that enter the university as an honors student, many fail to complete their honors program. Researchers have documented completion rates as low as 18.45% (Campbell and Fuqua, 2008). So why are honors graduation rates so low? In this study, variables were examined that the literature suggests affects honors graduation rates (High School GPA, ACT/SAT scores, AP credits, GPA 1^st term …

The Exploration Of Undergraduate Attitudes And Knowledge About International Agricultural Issues And Us Agricultural Policy, Caitlin Bletscher, Megan Gould, Shuyang Qu

Journal of International Agricultural and Extension Education

In today’s globalized world, educators and employers generally agree on the necessity for undergraduate agricultural [ag] students to develop a sound understanding of global ag issues and policy. Because of this, many U.S. universities have promoted internationalizing curriculum and increased international study abroad experiences. However, few studies have examined the impact of international experiences on students’ knowledge and attitudes about international ag issues and policies. This study bridges this gap by identifying the relationship between student knowledge and attitude toward international ag issues and U.S. ag policy, and how international experience and demographic variables play a role in that relationship. …

Making Better Farm Management Decisions, Matt Stockton

Cornhusker Economics

Traditionally, producer education efforts around farm management are directed at understanding the academic topics of business operations and management including, accounting, law, human resources, marketing, production, risk, finance, etc. The information, techniques and tools taught are often concrete and focus on measurement, analysis, and data. For instance, a traditional grain marketing education program would generally include topics in forward contracts, options, futures, hedge to arrive, basis contracts, storage, and seasonality. While these programs can be quite powerful in developing quantitative skills and knowledge, they neglect a key element needed by all farm managers to make objectively clear decisions. This key …

Transforming The “Great Resignation” Into The “Great Attraction”, Cheryl A. Burkhart-Kriesel

Cornhusker Economics

Businesses of all types are scrambling to hire people, especially those that work on the frontline with customers - from healthcare to hospitality to retail and everything in between. This is resulting in an incredibly tight labor market across the nation. Some are calling this time “The Great Resignation” which refers to the more than 19 million workers - and counting - that have quit their jobs since April 2021. Logic would say that if people are resigning in record numbers that there should be a lot of employees out there to hire, but that is not the case. It …

2021 Financial Analysis Summary, Tina Barrett

Cornhusker Economics

While the 2021 Average Farm Financial Data summary is not complete yet, we have enough information to start drawing some conclusions about what the numbers mean for farmers and ranchers in Nebraska. The conclusions that can be made are not only on the 2021 statistics but also on how 2021 will supply a boost to the financial health of those operations for 2022 and beyond. The preliminary average net farm income looks to be the highest recorded in the history of our data, dating back to 1976. Many factors combined to make 2021 a fortifying year for many Nebraska Producers. …

Something Fishy In Seafood Trade?, Kathy Baylis, Lia Nogueira, Linlin Fan, Kathryn Pace

Cornhusker Economics

The safety of food imports continues to be in the spotlight. Globally, each year, contaminated food causes almost 1 in 10 people to fall ill and 420 thousand people to die (WHO, 2017). Protecting consumers from unsafe foods is complicated by the increased role of international trade in our food system. The U.S. Centers for Disease Control and Prevention found that disease outbreaks associated with imported food increased from 1996 to 2014, with fish and produce being the main culprits (Gould et al., 2017). For example, in 2019, two separate cases of tuna from Vietnam were found to have sickened …

Farm Succession Planning - Why And How?, Allan Vyhnalek

Cornhusker Economics

If you visit with an Ag Professional and ask them “What percentage of farmers and ranchers have an Estate plan, or an up-to-date Estate/Succession plan?” the answer will be half, or just less than half. This article will examine why that happens and give some simple steps for anyone to follow to create an up-to-date Estate or Succession plan. Farmers and Ranchers don’t have a plan for a variety of reasons. These might include not ever planning to retire, not wanting to give up control, or not wanting to admit that they will ever pass away. Too often, we don’t …

Nebraska Women In Agriculture “Together Again”, Jessica Groskopf

Cornhusker Economics

A crowd of over 200 gathered Feb. 24 and 25 in Kearney, Nebraska for the 37^th Annual Nebraska Women in Agriculture conference. The conference is one of the longest-running women's conferences of its kind in the country. The goal of the Nebraska Women in Agriculture Conference is for women to build relationships with each other while gaining valuable knowledge about managing risk on their farms and ranches. The event featured four general session speakers and 28 workshop sessions. This year’s conference was supported in part by USDA-NIFA under Award Number 2020-70028-32728.

Commodity Prices, Climate And The High Plains Aquifer, Richard K. Perrin, Lilyan E. Fulginiti, Felipe Silva, Karina Schoengold

Cornhusker Economics

Crop prices and energy prices can affect the water level in an aquifer? Absolutely, yes, because over time, they affect the amount withdrawn for irrigation. Our recent research confirms that effect and provides estimates of the size of the effect on the High Plains Aquifer (HPA). The HPA underlies parts of eight states and 208 counties in the west-central United States (see Figure 1). This region produces more than 9% of US crop sales and relies on the aquifer for irrigation. These withdrawals for irrigation have contributed to a diminished stock of water in the aquifer that varies considerably across …

2022 Nebraska Farmland Values And Cash Rental Rates, Jim Jansen, Jeffrey Stokes

Cornhusker Economics

The market value of agricultural land in Nebraska increased by 16% over the prior year to an average of $3,360 per acre, according to the 2022 Nebraska Farm Real Estate Market Survey (Figure 1 and Table 1). This marks the largest increase in the market value of agricultural land in Nebraska since 2014 and is the highest non-inflation-adjusted state-wide land value in the history of the survey

Drainage Law Proposal, J. David Aiken

Cornhusker Economics

Legislative Bill 806 would significantly change Nebraska drainage law and bring long-overdue reform to Nebraska water law. This newsletter gives a quick overview of LB806 and how it would impact the resolution of drainage disputes in Nebraska.