The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) introduces several significant changes to farm commodity legislation. While these changes impact all program commodities, they have prompted considerable concern for the future of the Texas grain industry. Changes in the farm...

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) introduces several significant changes to farm commodity legislation. While these changes impact all program commodities, they have prompted considerable concern for the future of the Texas cotton industry. Changes in the farm...

The Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act) introduces several significant changes to farm commodity legislation. While these changes impact all program commodities, they have prompted considerable concern for the future of the Texas rice industry. Changes in the farm...

The high levels of government payments to farmers resulting from the 1985 farm bill have once again led the Congress to examine the payment limit issue. Payment limits were initially established in 1970 and have since been revised several times. In this report, policy and farm management...

The levels and risk-free nature of rice market transition payments associated with the FAIR Act of 1996 have encouraged many rice landowners to reconsider their tenure contracts. A methodology for comparing landowners' decision to "self-operate" versus "rent to a tenant" is presented.

Texas is the leading U.S. producer of cotton, and the U.S. is the largest internationalmarket supplier of cotton. Risks and uncertainties plague Texas cotton producers withunpredictable weather, insects, diseases, and price variability. Risk management studieshave examined the risk reducing...

Whole farm simulation analysis and econometric techniques are employed in an analysis of crop rotations and tenure arrangement strategies. The FLIPSIM model is used to analyze a representative Texas Upper Gulf Coast rice and soybean farm. Probit analysis is then used to determine the impact of...

E-V studies traditionally have relied on historical data to calculate returns and variance. Historical data may not fully reflect current conditions, particularly when decisions involve government-supported crops. This paper presents a method for calculating mean and variance using...

This study focuses on managing cotton production and marketing risks using combinations of irrigation levels, put options (as price insurance), and crop insurance. Stochastic cotton yields and prices are used to simulate a whole-farm financial statement for a 1,000 acre furrow irrigated cotton...

The impact of beginning equity, credit limits imposed by lenders, and changes in land values on farm survival, changes in equity position and farm success (measured by the probability of a positive net present value of returns) are evaluated. Whole-farm, Monte Carlo simulations for Texas...