The efficiency of livestock futures markets continues to receive attention, particularly with regard to their forward pricing or forecasting ability. The purpose of this paper is to present a more general theory that encompasses the forward pricing concept. It is argued that futures contract...

Forage production variability is incorporated into a decision theory framework for a beef producer in East Texas. The results suggest that the least risky, and also the most profitable, approach to intensive forage beef production is to plan for relatively poor weather conditions and low forage...

Variability in feed prices and crop yields are important sources of risk to dairy farmers. A simulation model of a representative dairy farm was used to evaluate crop insurance and hedging as risk management strategies. These strategies lowered expected net returns but also reduced risk. The...