Historically, managers in livestock production have focused on production management; however, as operations have grown they have spent more time managing employees. Increased time spent overseeing employees brings additional risks and challenges, and, hence, a greater need for human resource...

Cost, returns, and economies of scale for small, medium and large catfish farms with recirculating ponds are presented for the upper Texas coast. Internal rates of return are 0.150, 0.183 and 0.219, respectively. Total investment is higher than farms with static ponds but investment per unit...

A multinomial logit model was estimated and used to analyze the impact of various producer characteristics on the adoption of flow-through and recirculating technology in soft-shelled crab production. Because of the industry's geographic isolation and high turnover rate, data was collected by...

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Includes: Front Cover, Table of Contents, Editorial Information

Although Vector Autoregressive models are commonly used to forecast prices, specification of these models remains an issue. Questions that arise include choice of variables and lag length. This article examines the use of Forecast Error Variance Decompositions to guide the...

Cattle feeding enterprises operate amid variability originating in prices and production. This research explicitly models yield risks related to cattle feeding by relating the mean and variance of yield performance factors to observable conditioning variables. The results demonstrate that pen...

A stochastic budget simulator and generalized stochastic dominance are used to compare the risk management properties of grazing contracts to futures and option contracts. The results show that the risks of backgrounding feeder cattle are reduced significantly for pasture owners in a grazing...

New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed...

This paper examines three invited papers focused on commodity prices. Public responses to high nominal commodity prices and perceived increases in price risk have ranged from attempts to assign blame, attempts to change contracting arrangements, and development of public policy that...