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| Hignight, Jeffrey A.; Watkins, K. Bradley; Anders, Merle M.. |
| No-till (NT) has been shown to reduce fuel, labor, and machinery costs compared to conventional-till (CT) but very few rice producers in Arkansas practice NT. The low adoption rate is most likely due to difficulties in management but also limited information on the profitability and risk of NT. Most rice producers are knowledgeable on NT costs savings but consider it less profitable due to yield reductions offsetting costs savings. This study evaluates production costs, crop yields, and economic risk of both NT and CT in five rice-based cropping systems (continuous rice, rice-soybean, rice-corn, rice-wheat, and rice-wheat-soybean-wheat). Yields, crop prices, and key input prices are simulated to create net return distributions. Stochastic efficiency... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Cropping systems; Rice; No-till; Certainty equivalent; Risk premium; Crop Production/Industries; Farm Management; Financial Economics; Land Economics/Use; Production Economics; Risk and Uncertainty. |
| Ano: 2010 |
URL: http://purl.umn.edu/56354 |
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| Watkins, K. Bradley; Hignight, Jeffrey A.; Anders, Merle M.. |
| This study evaluated the impacts of farm size and stochastic return variability on no-till (NT) rice profitability at the whole-farm level. Mixed integer programming was used to determine optimal machinery complements, fuel consumption, and machinery labor requirements for conventional till (CT) and NT rice-soybean farms of 1200, 2400, and 3600 acres in size. Crop yields, market prices, and prices for key production inputs were simulated to construct stochastic whole-farm net returns for each farm size under CT and NT management, and both first and second degree stochastic dominance analysis were used to rank cumulative distribution functions of whole-farm returns according to specified risk preferences. The results indicate NT farms exhibit second degree... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Mixed integer programming; No-till; Profitability; Rice; Risk; Simulation; Stochastic dominance; Whole-farm; Farm Management; Production Economics; Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/98733 |
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| Watkins, K. Bradley; Hignight, Jeffrey A.; Beck, Paul A.; Anders, Merle M.; Hubbell, Donald S., III; Gadberry, Shane. |
| This study evaluates both the profitability and risk efficiency of grazing stocker steers on conservation tillage winter wheat pasture using simulation and stochastic efficiency with respect to a function (SERF). Average daily gains are simulated for steers grazed on conventional tillage (CT), reduced tillage (RT) and no-till (NT) winter wheat pasture. Steer price distributions and prices for key production inputs such as diesel, fertilizer, and glyphosate are also simulated. Stocker steer net return distributions by tillage treatment are constructed and ranked for risk efficiency using SERF. The results indicate the NT system is the most profitable and most risk efficient of the three tillage systems, followed by the RT system. Both conservation tillage... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: No-till; Profitability; Reduced tillage; Risk; SERF; Stocker grazing; Winter wheat; Farm Management; Production Economics. |
| Ano: 2010 |
URL: http://purl.umn.edu/56356 |
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