Agricultural Economics Commons^™

North Central Extension Risk Management Education Center, Part I: Helps Producers Manage Risks, Christine Lockert, Sheila Aikanathan Johnson, Bradley D. Lubben

Cornhusker Economics

Educating producers to manage risk and position their farm or ranch for future growth and success is the fundamental purpose of the Extension Risk Management Education (ERME) program.

The ERME program, funded by United States Department of Aagriculture’s National Institute of Food and Agriculture, provides training to help producers learn new strategies to manage complex and growing agricultural risks.

Established in 2001 and located at the University of Nebraska-Lincoln Agricultural Economics Department, the North Central Extension Risk Management Education Center (NCERMEC) has a long history of supporting risk management education programs serving producers in the region. NCERMEC, in conjunction …

Understanding Potential Profitability Estimates For Western Kentucky Grain Production, Austin Randolph, Naveen Musunuru

Honors College Theses

Profitability remains a persistent challenge for grain farmers across the United States and globally. Without profitability, the continued operation of any grain farm becomes unsustainable. For grain farmers, profitability is not merely a financial goal but a crucial determinant of their livelihood. However, many grain producers face a significant obstacle: a lack of reliable tools to predict profitability and plan for the next season or make adjustments to existing operations. While budgets can offer a framework and tentative guidelines for farmers to follow, fluctuations in market prices can ultimately undermine these financial plans. The objective of this project is to …

International Rice Outlook: International Rice Baseline Projections 2024–2034, A. Durand-Morat, W. Mulimbi

AAES Research Reports and Research Bulletins

• Global rice consumption is projected to exceed global rice production for most of the coming decade, with stocks playing a crucial role in balancing the global market over the projected period.

• The projected growth in production is almost exclusively due to productivity gains.

• The projected global rice consumption is growing, driven mainly by population growth. However, the average global per capita rice consumption is estimated to increase slowly in the coming decade due to a regain in per capita consumption in Asia, the largest rice-consuming region worldwide.

• The international prices of long-grain and medium-grain rice are …

The Impact Of Irrigation On Agricultural Land Values In The United States Southeast And An Analysis Of Farmland Prices In South Carolina, Christopher L. Thomas

All Theses

Land is a key component of the agriculture industry in the United States. According to the United States Department of Agriculture, farm real estate (land and buildings) accounted for 82.8% of total US farm sector assets in 2022, consequently making land the largest source of wealth in a farmer’s investment portfolio and the primary source of collateral used for farm operating loans. The Southeastern region of the United States has seen rapid farmland appreciation and intense population growth in recent years. This research investigates the rising farmland prices across the Southeast from both a regional and state-level perspective. Chapter Two …

Livestock Risk Protection Basis Risk For Feeder Cattle, Bryce Anderson

Graduate Theses and Dissertations

Recent government subsidies make livestock risk protection (LRP) insurance an affordable price risk management tool for many U.S. cattle producers. LRP insurance triggers a loss when the Chicago Mercantile Exchange (CME) Feeder Cattle Index falls below the selected coverage price. The CME Feeder Cattle Index is a 7-day weighted average of feeder cattle prices in 12 states. This paper determines if LRP policy holders who produce feeder cattle in states whose feeder cattle prices are not included in the CME Feeder Cattle Index are exposed to excess basis risk. To do this, we use a hedonic regression model to determine …

Evaluating The Economic Viability Of Feeding Hydroponic Barley Fodder To Growing Wethers, Fallon Johnson

All Graduate Reports and Creative Projects, Fall 2023 to Present

As the livestock industry combats challenges including rising feed costs and ensuring sustainable production practices, some attention is being given to hydroponic fodder as a feed source. Hydroponic fodder offers a potential alternative to traditional feed sources. Research has demonstrated hydroponic fodder production has increased water efficiency while providing a sustainable green feed source throughout the year. This study seeks to understand how using hydroponically produced barley fodder in a total mixed ration for growing wethers compares economically to feeding traditional feed sources. A stochastic simulation model is used to determine the expected total feed costs, costs of gain, and …

An Empirical Study On The Economic And Policy Drivers Of Livestock Risk Protection Utilization, Milan Chauhan

Department of Agricultural Economics: Dissertations, Theses, and Student Research

Federally supported risk management programs for livestock producers have existed for the last twenty years. Among these, Livestock Risk Protection (LRP) is a federally subsidized insurance tool available for cattle producers to manage downside price risk. In recent years, participation in LRP has surged. This paper examines the key economic and policy variables that partially drive LRP utilization and analyzes the role of risk management educational efforts in the decision to participate and the intensity of the insurance utilization using unique state-level panel data from 2003 through 2023.

The study analyzes three complementary metrics of insurance utilization: market volume (policies …

Evaluating Risk And Return Of Corn And Soybean Marketing Strategies Using Monte Carlo Simulation Methods, Johanna Ilves

Department of Agricultural Economics: Dissertations, Theses, and Student Research

This study evaluates the performance of pre-harvest marketing strategies for corn and soybeans, using Monte Carlo simulation techniques. Given the increasing volatility in commodity prices and the evolving landscape of agricultural markets, producers face growing challenges in developing effective marketing plans that manage risk and enhance profitability. This thesis examines thirteen marketing strategies from 2008 to 2024, including benchmark harvest-only sales and various pre-harvest futures contract approaches. Historical futures price data for December corn and November soybean contracts were used to simulate 1,000 marketing outcomes per strategy per year, capturing a broad range of market conditions. Key performance indicators such …

A Case Study On Readiness Of Engineers In Agricultural Technology Start-Ups, Katie Marie Mowat

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This dissertation explores the perceptions of practicing engineers regarding the skills necessary to be workforce-ready at agricultural technology (ag-tech) start-ups in the Midwestern United States. A qualitative case study methodology is leveraged, combining both interview and job description data. Given their uniqueness, the study divides the ag-tech start-up industry into two subcases: livestock and cropping systems. The Work Readiness Integrated Competence Model (WRICM) is used as the theoretical framework for this study and informs the conceptual framework and analysis processes. The study identified skills that fit into thirteen distinct categories, which are further grouped into four overarching resource groups. Skills …

The Product Of Property Tax: How Property Tax Affects Agricultural Production In Nebraska, James L. Kriz

Department of Political Science: Dissertations, Theses, and Student Research

The question of what level of property tax is acceptable has become an increasingly prominent question within agriculture, which is shown by the rise of interest groups and bill introduction in Nebraska. As such, this paper examines how property taxes affect Nebraska's agricultural output. The study employs a quantitative analysis of all Nebraska counties over 21 years from 2000 to 2020. This study hypothesizes that as property tax rates increase, farm outputs will decrease. The study offers a new analysis in an understudied subsection of the agriculture policy literature and points towards a new direction in which the field can …

Berm-Leveling Machine For Peach Orchards: Incorporation Of Tree-Sensing Feature And Profitability Study, Shubham Singh

All Theses

Root collar excavation extends the productive life of peach trees in Armillaria root rot-infested soil, but the process requires trees to be planted on berms. Berm-planted peach orchards restrict the mobility of workers and machinery and can lead to increased erosion in furrows on either side of the berms. The current inter-tree berm-leveling machine depends on the driver's command to dodge the peach trees. The objectives of this thesis were to (1) integrate the feeler, infrared, and LiDAR-based tree sensing systems in the berm-leveling machine to make the soil excavating head's movement independent, (2) measure the impact of finger weeder-based …

The Evolving Changes In The Regionalization Of Export Bans On U.S. Poultry Trade From The 2015 And 2022 Highly Pathogenic Avian Influenza Events, Kylie A. Roesler

Graduate Theses and Dissertations

As food security becomes a growing concern worldwide in a trading system dominated by globalization, the safeguarding of a bio-secure food system is at risk. One of the greatest risks to this stability of the system is, highly pathogenic avian influenza or HPAI which is growing in frequency and impact. Therefore, the global response to disease events is evolving into a newfound understanding of disease prevalence across the animal protein industries. This study will analyze the 2022 HPAI event in the United States regarding the regionalization of restrictions imposed by trading partners accounting for trade agreements executed. The examination of …

Understanding Pre-Harvest Hedging Behavior And Basis Forecasting: The Role Of Information In Grain Marketing, Iyore Eronmwon

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This dissertation examines decision-making under risk in grain marketing, focusing on how information influences behavior, attitudes toward accessible information, and methods for forecasting commodity basis. Through three essays, it explores the impact of information on hedging decisions, the determinants of information-seeking behavior, the extent to which students can serve as proxies for farmers in risk experiments, and the effectiveness of different forecasting approaches for commodity basis.

The first essay examines the impact of information on pre-harvest grain marketing hedging decisions and grain marketing information-seeking behavior. Specifically, it evaluates two types of information hypothesized to influence decision-making: expected cost of production …

Fractured Inheritance: Quantifying The Economic Impact Of Heir’S Property On Arkansas Farmers, Makenzie Mcjunkins

Graduate Theses and Dissertations

Heir’s property arises when the original owner still holds the title despite their passing, and ownership is distributed among their heirs. This was driven by barriers to retaining land ownership and access to legal support in predominantly African American populations in the early 20th century. This approach allowed land to remain in the original owner's name while granting continued ownership to future generations without formal paperwork. Additionally, allowing limited land access, land management, and disparities in capital access compared to property with direct ownership rights. This analysis examines how modern heir’s property impacts agricultural returns. This study develops a conceptual …

Assessing The Implicit Prices Of Health And Wellness Product Attributes In Pet Food: A Hedonic Analysis Approach, Lonnie Hobbs Jr., Andrew Anderson

Agricultural Economics and Agribusiness Faculty Publications and Presentations

Here we examine product attributes present in dry dog food to show there exist potential price premiums and discounts associated with health and wellness attributes in dry dog food. The findings indicate price premiums are associated with attributes related to digestion and allergy care. Pricing discounts are found to be associated with immune support and dental attributes. The results of this study are anticipated to be a starting point for more sophisticated and dynamic analysis of pricing and willingness-to-pay studies in the pet food industry.

Where Is Your Crop Insurance Agent? Understanding The Geographical Distribution Of Agents, Cory Walters, Nathan Delay

Cornhusker Economics

Following the modifications to the Standard Reinsurance Agreement (SRA) in 2010, there was limited understanding of the impact of policy changes on agent availability. Our objective is to construct a model of the equilibrium supply of crop insurance agents and to test hypotheses regarding the factors influencing agent concentration, such as commissions, competition, and risk. We developed a theoretical equilibrium model of the federal crop insurance market, which encompasses three tiers: insurance companies, agents, and farmers. The model incorporates key features of the federal program, including government-set premiums and the stipulation that agents cannot refuse coverage or modify premiums for …

Efficiency’S Role In Irrigation And Nitrogen Use, Matt Stockton, Shannon Sand

Cornhusker Economics

Summary

The WNIPI is a purely physical measure of I and N efficiency and was developed to determine efficiency winners in several TAPS contests. DRIN is a powerful tool in measuring the effectiveness of the dollars spent on I and N. It is a ratio of dollars returned as revenue in terms of dollars spent. The third measure, NRIN, is an overall measure of economic gain. It is the difference in money spent on I and N versus the revenue taken in and measures the volume of net returns. Both DRIN and the NRIN measure dollar effectiveness dependent on the …

Empowering Rural Communities: Unlocking Potential Through The Online Rural Economic & Community Vitality Graduate Certificate, Daniela Mattos

Cornhusker Economics

In today’s evolving economic landscape, rural Nebraska stands at a crossroads. While communities face challenges like population decline, job loss, and infrastructure needs, they also have enormous potential for growth, innovation, and resilience. The key to unlocking this potential lies in skilled, passionate leaders ready to shape the future.

The Rural Economic & Community Vitality (RECV) Graduate Certificate offered 100% online by the University of Nebraska–Lincoln’s Department of Agricultural Economics, provides a powerful platform to do just that. This 12-credit, no-prerequisite program is designed for individuals eager to create real, lasting impact in rural communities—whether you're already working in …

Economic Considerations For The Transition To Organic Farming: Insights From The 2023 Conference, Asa B. Stone, Katja Koehler-Cole, Ronald Christian Stephenson

Cornhusker Economics

Introduction

The Transition to Organic Farming Conference, led by Katja Koehler-Cole and sponsored by the Nebraska Extension and the USDA-TOPP (Transition to Organic Partnership Program), aimed to equip farmers with the essential knowledge for effective agronomic management. Focusing on overcoming challenges related to soil fertility and weed control, the conference served as a platform for both education and community building. It provided crucial insights into the economic considerations faced by farmers transitioning to organic practices, underscoring the economic complexities and benefits associated with this transition. The conference highlighted the need for comprehensive support systems to aid farmers in making informed …

Water Holding Capacity Of Soil And Resilience To Drought, Taro Mieno

Cornhusker Economics

For the past two years, I have been involved in an NSF-funded research project titled “RII Track-2 FEC: Supporting Rural Livelihoods in the Water-Stressed Central High Plains.” The overarching goal of this project is to evaluate the potential of microbials and biochar to enhance soil water holding capacity (hereafter, WHC), thereby improving drought resilience in crop production and reducing irrigation demand to slow aquifer depletion. Visit the project website for more details. A key component of this research is assessing the economic viability of these interventions, a task for which I am responsible.

To understand the economic benefits of increasing …