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...

The Wheat and Stocker Cattle Analyzer is a microcomputer decision aid for evaluating interrelated wheat production and stocker cattle grazing decisions under yield, weight gain, and price uncertainty. An important feature of the model is that wheat commodity program provisions are incorporated...

A risk programming model was developed to evaluate the tradeoffs between risk and expected returns in beef-forage production systems. The specification represents nutrient and intake considerations when allocating forage among cattle enterprises; it also incorporates the various sources of risk...

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...