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...

Over 90 percent of interstate produce movements are by truck. In recent years, concerns have been raised regarding the adequacy of motor carrier services. Reasons for these concerns include the possibility of increased costs or service erosions resulting from relaxed economic regulations, an...

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...