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| May, Gary J.; Jones, Rodney D.; Langemeier, Michael R.; Dhuyvetter, Kevin C.. |
| The terms of grazing lease contracts potentially influence the tenants incentive to preserve the vegetation resource. Annual stocking rate decisions dictate the degree of overgrazing, which can be cumulative over long periods of time. The objective of this study is to identify the impact the tenants planning horizon and cost structure specified in the lease contract has on his/her profit-maximizing stocking rate. A multi-period nonlinear programming model was developed to identify economically optimal stocking rates each year over a 24-year period. The model was solved under 1-, 4-, 8-, and 12-year leases on a per acre and per head basis. The relative importance of each lease alternative and input variable on the tenants optimal stocking rate was... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy; Land Economics/Use. |
| Ano: 2001 |
URL: http://purl.umn.edu/16632 |
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| Forristall, Cody; May, Gary J.; Lawrence, John D.. |
| The number of U.S. fed cattle marketed through a value based or grid marketing system is increasing dramatically. Most grids reward Choice or better quality grades and some pay premiums for red meat yield. The Choice-Select (C-S) price spread increased 55 percent, over $3/cwt between 1989-91 and 1999-01. However, there is a cost associated with pursuing these carcass premiums. This paper examines these tradeoffs both in the feedlot and in a retained ownership scenario. Correlations between carcass and performance traits resulted in economic tradeoffs that change across input costs and quality grade premiums and discounts. Feedlot profitability was largely determined by marbling, carcass weight, and feed efficiency. Carcass weight was most important at a... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19060 |
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| May, Gary J.; Lawrence, John D.. |
| Traditional break-even/fed cattle price projections do not provide adequate risk information to feeders, investors, lenders, and other stakeholders interested in cattle feeding decisions. The objectives of this study were two-fold: 1) develop a spreadsheet model that could estimate the net income distribution surrounding a cattle placement decision based on historical errors of futures based price forecasts, and 2) determine whether information generated from the model can be used to improve placement and marketing decisions. To accomplish objective 1, model was developed that could estimate the income distribution around a pen of cattle under a cash speculating and short hedge pricing strategy. Distribution estimates were based on 7 alternative forecast... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19067 |
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