Producers often contemplate expanding or contracting production to take advantage of cyclical cattle price trends. This study quantifies profitability and risk implications of (1) constant herd size, (2) dollar cost averaging, and (3) price signal-based, anticipatory countercyclical expansion/contraction strategies. Weather simulation on forages with different calving season and land use intensity showed fall calving herds with added hay sales from greater fertilizer use and the countercyclical herd size management strategy to be most profitable regardless of weather or time period analyzed. Income risk was comparable to least fertilizer use. Overall, holding herd size constant led to little regret.
One limitation of stated-preference methods is the formation of hypothetical bias. To address this, the honesty oath has been used as an ex ante technique to reduce hypothetical bias. Our study provides a query account of the honesty oath in a discrete-choice experiment setting by using Query Theory to examine the mechanism behind the effectiveness of the honesty oath. Our results show that the honesty oath can change the content and order of queries; potentially reducing hypothetical bias in discrete choice experiments. The study suggests the potential usefulness of Query Theory in examining thought processes of respondents in valuation studies.
Phosphorus runoff from the land application of poultry litter has become a concern in watersheds in the Ozark Plateau region, prompting local growers to use alternative litter management practices. One option is the export of excess poultry litter from producers in nutrient-surplus watersheds to users located in areas where nutrient loads are not problematic. In 2006, nearly 100,000 tons of broiler and turkey litter was exported by BMPs Inc., a nonprofit corporation providing litter management services. However, breeder hen litter and pullet litter are rarely exported because there are limited outlets for these lower nutrient value litters. Another poultry industry by-product is eggshell waste from egg-breaking operations, most of which is currently landfilled at a cost of $25/ton. Composting was examined as an alternative method to convert litter and eggshell wastes into a marketable soil amendment, making use of the beneficial soil nutrients available in both; 4 blends and 2 production systems were analyzed. Process results indicated that during composting, the observed temperatures of each of the 4 blends were different, but all followed a similar trend throughout the production cycle. Functional group inventory and diversity analysis indicated that all blends fell within optimal ranges of microbial species, except for the ratio of aerobic to anaerobic bacteria; only blend 4 was within the optimal value for this parameter. Diversity values for each blend fell within the moderate diversity range (3 < d < 6.5). Maturity analysis results indicated that no blends were mature at 11 wk (index <50%) and could not safely be used in horticultural applications but could safely be used in field applications. Break-even analyses indicated that compost could be produced at an average cost (across the 4 blends) of $17.48 to $20.09/ton for systems 1 (small-scale) and 2 (large-scale), respectively.
The aim of this research paper is to assess the technical efficiency (TE) of milk production in Kosovo using the stochastic frontier analysis. Research data are collected through surveys from 100 commercially oriented dairy farmers. The study finds that TE of milk production by most of these farms is high. Using the Cobb-Douglas production function, individual measures of TE range from 0.87 to 0.98 (on a scale of 0 to 1.00) with the average being 0.95. There were 57 farms with TE greater than 0.95 and 35 farms with TE less than 0.95. In the study’s sample, female dairy farmers have roughly the same mean TE of 0.95 as male dairy farmers. The variation in milk production among the sampled farms was modeled in terms of concentrate and forage feed costs and pre-production costs. The study suggests that concentrate feed and pre-production costs can significantly influence TE of milk production among Kosovar dairy farms.
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