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COST OF ASPARAGUS PRODUCTION IN WESTERN MICHIGAN 31
Dartt, Barbara; Myers, Norm; Black, J. Roy; Bakker, John.
This bulletin was developed to help producers as well as educators and agribusinesses working with producers to estimate costs of production and expected profit based on "typical" asparagus management strategies found in northwestern Michigan. The budget included in this bulletin will allow users to revise inputs based on their management strategies and calculate their expected cost and profit. This flexibility provides a decision aid to search for systems that generate higher net returns to the farm's resource base. The brief outline of cultural and pest management practices included in this publication should be supplemented with publications from Michigan State University or from other Universities. See the References section for resources. Many are...
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11644
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Incorporating Environmentally Compliant Manure Nutrient Disposal Costs into Least-Cost Livestock Ration Formulation 31
Hadrich, Joleen C.; Wolf, Christopher A.; Black, J. Roy; Harsh, Stephen B..
Livestock rations are formulated to minimize feed cost subject to nutritional requirements for a target performance level, which ignores the potentially substantial cost of disposing of nutrients fed in excess of nutritional requirements. We incorporate nutrient disposal costs into a modified least-cost ration formulation model to arrive at a joint least-cost decision that minimizes the sum of feed and net nutrient disposal costs. The method is demonstrated with phosphorus disposal costs on a representative dairy farm. Herd size, land availability and proximity, crop rotation, and initial soil phosphorus content are shown to be important in determining phosphorus disposal costs.
Tipo: Journal Article Palavras-chave: Environmental compliance; Linear programming; Livestock rations; Manure disposal; Agribusiness; Environmental Economics and Policy; Livestock Production/Industries; C61; Q12; Q52.
Ano: 2008 URL: http://purl.umn.edu/45525
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COST OF PROCESSING CARROT PRODUCTION IN WEST CENTRAL MICHIGAN 31
Dartt, Barbara; Black, J. Roy; Breinling, Jim; Morrone, Vicki.
This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" carrot management strategies found in west central Michigan. The budget included in this bulletin will allow users to revise inputs based on their management strategies and calculate their expected cost and profit. This flexibility provides a decision aid to search for systems that generate higher net returns to the farm's resource base.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11687
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2002 MICHIGAN FEEDER STEER BUSINESS ANALYSIS SUMMARY 31
Wittenberg, Eric; Black, J. Roy.
This report summarizes the financial and production records of 10 Michigan feeder steer farms. To be included, the farms must have produced at least 50 percent of gross cash farm income from feeder steer sales. The records came from Michigan State University's TelFarm/MicroTel project, the Farm Credit Service system, or by AgriSolutions in Michigan. The values were pooled into averages for reporting purposes. Farm records were included if a farm financial summary was completed on 2002 data including beginning and ending balance sheets, plus income and expenses. The data were checked to verify that cash discrepancy was less than 10% of gross cash inflow and that debt discrepancy was less than $1,000. While considerable variation in the data exists,...
Tipo: Working or Discussion Paper Palavras-chave: Livestock Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/11763
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ADJUSTED GROSS REVENUE PILOT INSURANCE PROGRAM: RATING PROCEDURE (REPORT PREPARED FOR THE RISK MANAGEMENT AGENCY BOARD OF DIRECTORS) 31
Black, J. Roy.
The focus of this paper is on outlining the procedures used to estimate the premium rates for the Adjusted Gross Revenue (AGR) insurance plan. The AGR rating procedures draw substantially on rating procedures used in products currently reinsured and subsidized by Risk Management Agency/USDA (RMA); thus, the principal focus here is on those features that are a specific to AGR. The outline, briefly, the procedures used in rating existing products to set the stage for describing AGR rating procedures. The focus of AGR is on farms whose principal revenue streams are from NAP crops as contrasted to farms whose crops can be insured under a plan reinsured and subsidized by RMA; however, the procedures must recognize and take advantage of the fact that crops with...
Tipo: Working or Discussion Paper Palavras-chave: Risk and Uncertainty.
Ano: 2000 URL: http://purl.umn.edu/11721
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Reduction of Yield and Income Risk Under Alternative Crop Insurance and Disaster Assistance Plans 31
Carriker, Gordon L.; Williams, Jeffery R.; Barnaby, Glenn Arthur, Jr.; Black, J. Roy.
This study compares the effectiveness of five crop insurance/disaster assistance plans: an individual farm yield insurance plan similar to the current FCIC multi-peril program ; two area yield insurance plans; a farm yield disaster assistance plan; and an area yield disaster assistance plan. These methods are examined for reduction in yield and gross income variability with and without participation in the government deficiency payment programs using farm-level yield data from 98 dryland wheat farms and 38 dryland corn farms in Kansas . Although individual farm yield insurance is complex, suffers from moral hazard and adverse selection problems, and is likely to be the most expensive to administer , it provides more yield and gross income risk reduction...
Tipo: Working or Discussion Paper Palavras-chave: Crop Insurance; Crop Disaster Assistance; Risk; Wheat; Corn; Risk and Uncertainty.
Ano: 1990 URL: http://purl.umn.edu/118191
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A TWO-SHOCK MODEL OF THE IMPACT OF CROP INSURANCE ON INPUT USE: ANALYTIC AND SIMULATION RESULTS 31
Liu, Yanyan; Black, J. Roy.
By altering the probability distribution of farm income, crop insurance programs affect farmer's input use decision. Ramaswami's (1993) one-shock model analyzed the effect of the crop insurance on single input use by allowing the randomness of yield while keeping price constant in revenue determination. The total effect of actuarially fair insurance on input use was decomposed into risk reduction effect and moral hazard effect, and the directions of the two effects were examined. He showed that the total impact of actuarially fair crop insurance on input use was a) to reduce it if the input was risk decreasing and b) indeterminate if the input was risk increasing. However, the evidence from previous empirical work has been mixed. Horowitz and Lichtenberg...
Tipo: Conference Paper or Presentation Palavras-chave: Risk and Uncertainty.
Ano: 2004 URL: http://purl.umn.edu/19947
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Late Planting Decisions with Crop Insurance: Decision Guidelines for Michigan Farmers in Spring 2011 31
Betz, Roger; Schweikhardt, David B.; Black, J. Roy; Hilker, James H..
Michigan has had unusually wet planting conditions in 2011, leading to substantial acreage that has not been planted at this late date. Farmers who purchased crop insurance have many options available to them. This paper addresses the major crop insurance decisions that farmers will face during the next 30 days.
Tipo: Working or Discussion Paper Palavras-chave: Crop insurance; Prevented planting; Risk management; Farm management; Corn returns; Soybean returns; Agricultural and Food Policy; Crop Production/Industries; Farm Management; Risk and Uncertainty.
Ano: 2011 URL: http://purl.umn.edu/108905
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2004 Business Analysis Summary Feeder Steers 31
Black, J. Roy; Wittenberg, Eric.
This report summarizes the financial and production records of 8 Michigan feeder steer farms. To be included, the farms must have produced at least 50 percent of gross cash farm income from feeder steer sales. The records came from Michigan State University's TelFarm project and the Farm Credit Service system in Michigan. The values were pooled into averages for reporting purposes. Farm records were included if a farm financial summary was completed on 2004 data including beginning and ending balance sheets, plus income and expenses. The data were checked to verify that cash discrepancy was less than 10% of gross cash inflow and that debt discrepancy was less than $1,000. While considerable variation in the data exists, average values are reported in the...
Tipo: Working or Discussion Paper Palavras-chave: Livestock Production/Industries.
Ano: 2005 URL: http://purl.umn.edu/11815
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COST OF FRESH MARKET SWEET CORN PRODUCTION IN MONROE COUNTY, MICHIGAN 31
Dartt, Barbara; Black, J. Roy; Marks, Paul; Morrone, Vicki.
This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" sweet corn management strategies found in Monroe County, Michigan. The budget included in this bulletin will allow users to revise inputs based on their management strategies and calculate their expected cost and profit. This flexibility provides a decision aid to search for systems that generate higher net returns to the farm's resource base.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11647
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Economically Optimal Distiller Grain Inclusion in Beef Feedlot Rations: Recognition of Omitted Factors 31
Jones, Crystal; Tonsor, Glynn T.; Black, J. Roy; Rust, Steven R..
With the rapid expansion of the ethanol industry, the feeding landscape familiar to the feedlot industry is changing. While concerns regarding rising corn prices persist, many within the industry are looking at distiller’s grains, a by-product of ethanol production, to serve as a feed substitute. The question remains as to what extent these two feed sources are substitutable. The purpose of this study is to identify the economically optimal inclusion rate of distiller’s grains in beef feedlot rations, considering an array of often omitted factors. Most currently prevailing recommendation rates are strictly biologically based and frequently reference only one feeding trial. Unique economic factors considered in this research include the impact of...
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries.
Ano: 2007 URL: http://purl.umn.edu/9741
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An Examination of US Consumer Pet and Veterinary Expenditures, 1980-1999 31
Wolf, Christopher A.; Lloyd, James W.; Black, J. Roy.
The veterinary medical profession touches nearly everyone's life, either directly or indirectly. An estimated 58.3% of US households own pets (AVMA, 2002), and most people consume livestock products in the form of meat, dairy products, wool, or leather. The health and well being of all these animals depend heavily on relationships with veterinarians. Veterinarians also contribute to public health through the FDA, CDC, USDA, and numerous other government agencies at the federal, state, and local levels. Issues of primary concern include food safety, biosecurity, and the numerous emerging (and re-emerging) infectious diseases that are zoonotic in nature. Finally, veterinarians have an additional impact through their research contributions. Virtually...
Tipo: Working or Discussion Paper Palavras-chave: Health Economics and Policy.
Ano: 2006 URL: http://purl.umn.edu/7430
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AN ANALYTICAL FRAMEWORK FOR DISCUSSING FARM BUSINESS INTERRUPTION INSURANCE FOR CLASSICAL SWINE FEVER 31
Meuwissen, Miranda P.M.; Skees, Jerry R.; Black, J. Roy; Huirne, Ruud B.M.; Dijkhuizen, Aalt A..
This paper studies farm business interruption insurance for Classical Swine Fever epidemics. Insight into the size of risk is obtained by a very detailed Monte-Carlo simulation model that includes both epidemiological and economic factors. The paper also considers issues such as farmers’' and governments’' influence on the size of risk.
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries; Risk and Uncertainty.
Ano: 2000 URL: http://purl.umn.edu/21738
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ECONOMIC ANALYSIS APPROACHES TO POTATO-BASED INTEGRATED CROP SYSTEMS: ISSUES AND METHOD 31
Labarta, Ricardo A.; Swinton, Scott M.; Black, J. Roy; Snapp, Siglinde; Leep, Richard.
In response to stagnating yields and mounting pest problems, Michigan potato growers are investigating ways to bring manure and cover crops back into potato production systems. The alternative systems bring benefits and costs for monetary net returns, the variability of net returns, and environmental impacts. This paper reviews the likely yield and biological system effects of alternative potato production systems that incorporate manure and cover crops. After briefly considering research designs for gathering experimental versus farm field data, it reviews four economic analysis methods for evaluating alternative systems. All methods are illustrated with examples. First, for evaluating comparative average profitability, it reviews a) enterprise...
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11677
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CONSIDERING MARKET-BASED ALTERNATIVES TO IMPROVE THE MANAGEMENT OF CAFOs 31
Skees, Jerry R.; Black, J. Roy; Gramig, Benjamin M..
This paper presents a proposal to utilize insurance as a market-based alternative to traditional command-and-control regulation of concentrated animal feeding operations in order to meet policy goals to curtail negative environmental externalities.
Tipo: Conference Paper or Presentation Palavras-chave: Environmental Economics and Policy; Livestock Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/22248
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COST OF CHIP POTATO PRODUCTION IN CENTRAL MICHIGAN 31
Dartt, Barbara; Black, J. Roy; Smucker, Don.
This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" chip potato production management strategies found in Montcalm County, Michigan. The budget included in this bulletin will allow users to revise inputs based on their management strategies and calculate their expected cost and profit. This flexibility provides a decision aid to search for systems that generate higher net returns to the farm's resource base.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11765
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COST OF FRESH MARKET CELERY PRODUCTION IN SOUTHWESTERN MICHIGAN 31
Dartt, Barbara; Black, J. Roy; Breinling, Jim; Morrone, Vicki.
This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" celery management strategies found in southwestern Michigan. The budget included in this bulletin will allow users to revise inputs based on their management strategies and calculate their expected cost and profit. This flexibility provides a decision aid to search for systems that generate higher net returns to the farm's resource base.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2002 URL: http://purl.umn.edu/11777
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THE AGRICULTURAL RISK MANAGEMENT SIMULATOR MICROCOMPUTER PROGRAM 31
King, Robert P.; Black, J. Roy; Benson, Fred J.; Pavkov, Patti A..
The Agricultural Risk Management Simulator (ARMS) is a microcomputer program designed to help users evaluate strategies for managing yield and price risk in crop farming operations. Risk management strategies are defined by choices regarding crop mix, the purchase of multiple peril crop insurance, and the use of forward contracting. Probabilistic budgeting is used to determine the net cash flow probability distribution for each strategy considered. Flexibility with regard to both sources of probabilistic information and the form of yield and price probability distributions is a noteworthy feature of the program.
Tipo: Journal Article Palavras-chave: Risk and Uncertainty.
Ano: 1988 URL: http://purl.umn.edu/29259
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2005 Michigan Feeder Steers Business Analysis Summary 31
Wittenberg, Eric; Black, J. Roy.
This report summarizes the financial and production records of 5 Michigan feeder steer farms. To be included, the farms must have produced at least 50 percent of gross cash farm income from feeder steer sales. The records came from Michigan State University's TelFarm project and the Farm Credit Service system in Michigan. The values were pooled into averages for reporting purposes. Farm records were included if a farm financial summary was completed on 2005 data including beginning and ending balance sheets, plus income and expenses. The data were checked to verify that cash discrepancy was less than 10% of gross cash inflow and that debt discrepancy was less than $1,000. While considerable variation in the data exists, average values are reported...
Tipo: Working or Discussion Paper Palavras-chave: Agricultural Finance; Livestock Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/9309
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Assessing Bottlenecks in Vertically Organized Beef Systems 31
Raper, Kellie Curry; Black, J. Roy; Hogberg, Michael; Hilker, James H..
Tipo: Journal Article Palavras-chave: Agribusiness.
Ano: 2005 URL: http://purl.umn.edu/26756
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