| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
A Multi-Period Analysis of Two Common Livestock Management Strategies Given Fluctuating Precipitation and Variable Prices
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| Autores: |
Ritten, John P.
Frasier, W. Marshall
Bastian, Christopher T.
Paisley, Steven I.
Smith, Michael A.
Mooney, Sian
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| Data: |
2010-05-01
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| Ano: |
2010
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| Palavras-chave: |
Drought management
Mathematical programming
Herd liquidation
Price cycle
Cattle management
Agribusiness
Agricultural Finance
Farm Management
Livestock Production/Industries
Production Economics
Productivity Analysis
Research Methods/ Statistical Methods
Q12
C61
D24
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| Resumo: |
Many areas of the US recently endured a severe drought and management strategies to cope with the lack of forage production varied. A multi-period mathematical model is presented that estimates the outcomes of two common producer responses to changes in precipitation, partial liquidation and purchasing hay, given fluctuating cattle prices over a long term planning horizon. Results were further summarized with regression analysis and selected elasticities were calculated to reflect the sensitivity of outcomes to variability in precipitation and livestock prices. Although little impact was seen from utilizing additional hay as a strategy during drought, producers who follow this strategy are in a position to market more animals immediately post drought in general, resulting in better long run financial outcomes. Elasticity estimates suggest that profitability is more sensitive to variability in prices but that optimal choices of management strategies are more sensitive to variability in precipitation.
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| Tipo: |
Journal Article
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/90673
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| Relação: |
Journal of Agricultural and Applied Economics>Volume 42, Number 02, May 2010
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| Formato: |
15
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