Cow-herd standardized performance analysis (SPA) data for Texas, Oklahoma, and New Mexico were used to determine economic factors affecting cow-herd costs, production, and profitability. Total cost was defined as the financial cost associated with raising a calf through the weaning stage; production, as pounds weaned per exposed female; and profits, as rate of return on assets. Variables affecting one or more performance measures included herd size; pounds of feed fed; real estate, machinery, and breeding-stock investments; calving percentage; death loss; and breeding-season length. Management variables were especially important for financial costs and profitability of the cow-herd operation.
Most technology adoption research has focused on crops. Primary data were used to determine differences in management practices among two groups of Oklahoma cow-calf producers based on herd size and cattle income dependence. Significant differences were noted between two groups of producers (smaller operations with less dependence on cattle versus larger with more dependence on cattle) in 79% of the management practices examined. Logit models determined factors influencing the probability of adopting 17 recommended practices. Important factors included the firm goal to choose practices that reduce labor, income dependence on cattle, human capital, and size of operation.
Binary logit regression models were used to estimate factors affecting adoption of recommended management practices. Variables analyzed include aspects of farm structure, human capital, farm objectives, and production system employed by the producer. Results reveal that operation size and dependency upon income from the stocker operation, in particular, influence the adoption of recommended practices. Older producers and those pursuing a year-round production strategy were found to lag in adoption.
Per acre prices of agricultural land increase as parcel sizes decrease. The puzzle is why all agricultural land is not sold in small parcels. Small parcels tend to be close to residential areas and close to quality roads. The small parcel premium lessens as parcels are more distant from urban areas. This suggests that much of the small parcel premium is due to parcels being purchased based on nonagricultural use values. Thus, an explanation of the small parcel premium puzzle is that land with low nonagricultural use values may not have a small parcel premium.
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